Steph & Co. Sells 321 Shares of EQT Co. (NYSE:EQT)

Steph & Co. reduced its position in EQT Co. (NYSE:EQT) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,780 shares of the oil and gas producer’s stock after selling 321 shares during the period. Steph & Co.’s holdings in EQT were worth $185,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Capital World Investors purchased a new stake in EQT during the first quarter valued at approximately $497,156,000. Wellington Management Group LLP lifted its holdings in shares of EQT by 61.9% during the 3rd quarter. Wellington Management Group LLP now owns 19,687,594 shares of the oil and gas producer’s stock valued at $798,923,000 after purchasing an additional 7,526,875 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of EQT by 6,029.6% during the 1st quarter. Renaissance Technologies LLC now owns 6,424,264 shares of the oil and gas producer’s stock valued at $221,059,000 after purchasing an additional 6,319,457 shares during the last quarter. PointState Capital LP purchased a new stake in shares of EQT during the 1st quarter valued at $163,646,000. Finally, Clearbridge Investments LLC lifted its holdings in shares of EQT by 66.1% during the 1st quarter. Clearbridge Investments LLC now owns 11,115,761 shares of the oil and gas producer’s stock valued at $382,493,000 after purchasing an additional 4,423,003 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Jefferies Financial Group increased their price objective on EQT from $42.00 to $43.00 and gave the company a “buy” rating in a report on Friday, April 5th. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 target price on shares of EQT in a research note on Tuesday, March 5th. Piper Sandler raised their target price on EQT from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Sanford C. Bernstein upgraded EQT from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $27.00 to $34.00 in a research note on Wednesday, April 10th. Finally, Mizuho lifted their price objective on EQT from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $43.13.

EQT Price Performance

EQT stock traded down $0.16 during trading on Wednesday, hitting $36.04. The stock had a trading volume of 5,246,030 shares, compared to its average volume of 6,433,541. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. EQT Co. has a twelve month low of $30.84 and a twelve month high of $45.23. The stock has a market capitalization of $15.87 billion, a P/E ratio of 8.54 and a beta of 1.12. The company’s 50-day moving average price is $35.81 and its two-hundred day moving average price is $38.11.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.58 billion. EQT had a return on equity of 7.12% and a net margin of 25.12%. EQT’s revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. As a group, research analysts predict that EQT Co. will post 1.31 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.75%. EQT’s dividend payout ratio (DPR) is presently 14.82%.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.