Allspring Global Investments Holdings LLC Decreases Stake in EQT Co. (NYSE:EQT)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of EQT Co. (NYSE:EQT) by 14.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,850 shares of the oil and gas producer’s stock after selling 12,410 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in EQT were worth $2,701,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of EQT. Private Wealth Management Group LLC acquired a new position in shares of EQT in the 4th quarter valued at approximately $30,000. BKM Wealth Management LLC bought a new stake in shares of EQT in the fourth quarter worth $40,000. Principal Securities Inc. acquired a new stake in EQT in the fourth quarter valued at $51,000. Massmutual Trust Co. FSB ADV boosted its stake in EQT by 52.6% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer’s stock valued at $60,000 after acquiring an additional 539 shares during the last quarter. Finally, CX Institutional acquired a new position in EQT during the 4th quarter worth $64,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EQT. Scotiabank raised their price objective on EQT from $52.00 to $54.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 9th. StockNews.com raised shares of EQT to a “sell” rating in a report on Wednesday, May 29th. TD Cowen started coverage on shares of EQT in a research note on Friday, April 19th. They set a “hold” rating and a $43.00 target price for the company. The Goldman Sachs Group decreased their target price on shares of EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price objective on shares of EQT in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $45.24.

Insider Activity

In other news, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the sale, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the transaction, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lesley Evancho sold 46,884 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the completion of the sale, the insider now owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

EQT Trading Up 0.7 %

Shares of EQT stock opened at $36.95 on Wednesday. The business has a fifty day simple moving average of $39.82 and a 200-day simple moving average of $37.62. The firm has a market cap of $16.32 billion, a price-to-earnings ratio of 26.78 and a beta of 1.12. EQT Co. has a fifty-two week low of $32.07 and a fifty-two week high of $45.23. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.57%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the firm posted $1.70 EPS. The business’s revenue for the quarter was down 28.8% on a year-over-year basis. On average, equities analysts forecast that EQT Co. will post 1.05 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.71%. EQT’s dividend payout ratio is currently 45.65%.

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.