EQT Co. (NYSE:EQT) Stake Reduced by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its holdings in EQT Co. (NYSE:EQT) by 51.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 899,864 shares of the oil and gas producer’s stock after selling 943,000 shares during the quarter. Renaissance Technologies LLC owned 0.20% of EQT worth $33,277,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in EQT during the second quarter valued at approximately $28,000. Blue Trust Inc. increased its holdings in shares of EQT by 149.5% in the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 598 shares in the last quarter. Wolff Wiese Magana LLC lifted its position in shares of EQT by 936.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 908 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of EQT during the 4th quarter worth $51,000. Finally, Industrial Alliance Investment Management Inc. grew its holdings in shares of EQT by 65.5% in the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 1,440 shares of the oil and gas producer’s stock worth $53,000 after acquiring an additional 570 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Trading Up 0.8 %

NYSE:EQT opened at $33.53 on Thursday. The company has a market capitalization of $14.81 billion, a P/E ratio of 24.30 and a beta of 1.06. The stock’s 50 day moving average price is $33.38 and its 200 day moving average price is $36.48. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. EQT Co. has a 52 week low of $30.02 and a 52 week high of $45.23.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. EQT’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) EPS. On average, research analysts forecast that EQT Co. will post 1.44 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.88%. EQT’s dividend payout ratio is currently 45.65%.

Wall Street Analysts Forecast Growth

EQT has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their target price on EQT from $42.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Truist Financial decreased their target price on shares of EQT from $36.00 to $32.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Stephens cut their price target on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Citigroup restated a “neutral” rating and issued a $37.00 price target on shares of EQT in a research report on Friday, August 23rd. Finally, StockNews.com upgraded shares of EQT to a “sell” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $43.28.

EQT Profile

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.