Hsbc Holdings PLC Sells 96,561 Shares of EQT Co. (NYSE:EQT)

Hsbc Holdings PLC trimmed its position in EQT Co. (NYSE:EQT) by 16.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 491,405 shares of the oil and gas producer’s stock after selling 96,561 shares during the quarter. Hsbc Holdings PLC owned about 0.11% of EQT worth $18,169,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Innealta Capital LLC acquired a new position in EQT during the 2nd quarter worth $28,000. Wolff Wiese Magana LLC increased its stake in shares of EQT by 936.1% in the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 908 shares during the period. Blue Trust Inc. lifted its position in shares of EQT by 149.5% during the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 598 shares during the last quarter. Industrial Alliance Investment Management Inc. boosted its stake in EQT by 65.5% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 1,440 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 570 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in EQT in the 1st quarter valued at approximately $54,000. 90.81% of the stock is owned by institutional investors.

EQT Price Performance

EQT stock opened at $34.83 on Monday. The business’s fifty day moving average is $33.28 and its two-hundred day moving average is $36.43. 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 firm has a market cap of $15.38 billion, a P/E ratio of 25.24 and a beta of 1.06. EQT Co. has a 52 week low of $30.02 and a 52 week high of $45.23.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. Equities research analysts forecast that EQT Co. will post 1.44 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Wednesday, August 7th. EQT’s dividend payout ratio is currently 45.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group increased their price objective on EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Mizuho decreased their price target on shares of EQT from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Morgan Stanley restated an “overweight” rating and set a $45.00 price objective on shares of EQT in a report on Friday, September 13th. StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $43.28.

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.