Wealthfront Advisers LLC Cuts Stock Position in EQT Co. (NYSE:EQT)

Wealthfront Advisers LLC lessened its holdings in EQT Co. (NYSE:EQT) by 61.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,340 shares of the oil and gas producer’s stock after selling 17,865 shares during the period. Wealthfront Advisers LLC’s holdings in EQT were worth $523,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in EQT. Truvestments Capital LLC purchased a new position in shares of EQT in the 3rd quarter valued at $30,000. Quarry LP increased its stake in EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 578 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in EQT during the 3rd quarter worth $36,000. Financial Avengers Inc. increased its stake in EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 504 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in EQT by 22.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after buying an additional 193 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Trading Up 3.8 %

Shares of NYSE:EQT opened at $50.71 on Monday. The company has a 50 day moving average of $50.82 and a 200-day moving average of $43.59. The firm has a market cap of $30.30 billion, a P/E ratio of 126.79, a P/E/G ratio of 0.64 and a beta of 1.12. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. As a group, analysts anticipate that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a $0.1575 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.24%. EQT’s payout ratio is currently 157.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. UBS Group lifted their price target on shares of EQT from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Truist Financial lifted their price target on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $49.00 target price on shares of EQT in a research report on Monday, January 6th. Finally, Citigroup downgraded shares of EQT from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $52.56.

EQT Company 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.