Sei Investments Co. Sells 58,435 Shares of EQT Co. (NYSE:EQT)

Sei Investments Co. lowered its position in EQT Co. (NYSE:EQT) by 11.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 443,124 shares of the oil and gas producer’s stock after selling 58,435 shares during the period. Sei Investments Co.’s holdings in EQT were worth $16,387,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in EQT by 22.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after purchasing an additional 11,993,729 shares during the period. Vanguard Group Inc. grew its holdings in shares of EQT by 8.4% during the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after buying an additional 3,942,802 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of EQT by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after acquiring an additional 464,781 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of EQT by 3.2% in the 4th quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock worth $785,580,000 after acquiring an additional 632,625 shares during the last quarter. Finally, Capital World Investors lifted its position in EQT by 1.5% in the 4th quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock valued at $673,678,000 after acquiring an additional 265,297 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on EQT. Truist Financial lowered their price objective on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Jefferies Financial Group lifted their price objective on shares of EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $40.00 to $42.00 in a report on Wednesday, August 14th. Morgan Stanley restated an “overweight” rating and set a $45.00 price target on shares of EQT in a report on Friday, September 13th. Finally, Piper Sandler lowered shares of EQT from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $43.00 to $32.00 in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, EQT has a consensus rating of “Hold” and a consensus target price of $43.39.

EQT Trading Up 1.0 %

Shares of EQT opened at $35.51 on Friday. The firm has a market cap of $15.68 billion, a P/E ratio of 25.73 and a beta of 1.06. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $45.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. The business has a 50-day moving average of $33.25 and a 200 day moving average of $36.40.

EQT (NYSE:EQT) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. EQT’s revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) EPS. As a group, research analysts forecast that EQT Co. will post 1.37 EPS for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.63 annualized dividend and a yield of 1.77%. EQT’s dividend payout ratio is currently 45.65%.

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.