Intech Investment Management LLC Sells 89,073 Shares of EQT Co. (NYSE:EQT)

Intech Investment Management LLC cut its holdings in EQT Co. (NYSE:EQT) by 87.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,697 shares of the oil and gas producer’s stock after selling 89,073 shares during the quarter. Intech Investment Management LLC’s holdings in EQT were worth $465,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in EQT by 2.3% in 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 purchasing an additional 464,781 shares during the period. Modera Wealth Management LLC bought a new stake in shares of EQT in the 3rd quarter worth approximately $562,494,000. Clearbridge Investments LLC grew its stake in shares of EQT by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after buying an additional 253,186 shares during the last quarter. Dimensional Fund Advisors LP increased its position in EQT by 19.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,224,784 shares of the oil and gas producer’s stock valued at $156,243,000 after buying an additional 697,824 shares in the last quarter. Finally, Canoe Financial LP purchased a new position in EQT during the third quarter valued at $89,907,000. 90.81% of the stock is currently owned by institutional investors.

EQT Stock Down 2.0 %

EQT stock opened at $44.53 on Tuesday. The stock has a market cap of $26.57 billion, a PE ratio of 53.01 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a fifty day moving average of $39.53 and a 200 day moving average of $37.18. EQT Co. has a one year low of $30.02 and a one year high of $48.02.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 EPS. As a group, sell-side analysts predict that EQT Co. will post 1.36 EPS for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were given a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.41%. EQT’s payout ratio is presently 75.00%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EQT. UBS Group raised their price target on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Bank of America assumed coverage on shares of EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 target price on the stock. Morgan Stanley raised their price target on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Finally, Truist Financial upped their price objective on EQT from $32.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.67.

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.