DnB Asset Management AS Trims Stock Holdings in EQT Co. (NYSE:EQT)

DnB Asset Management AS cut its holdings in shares of EQT Co. (NYSE:EQT) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,019 shares of the oil and gas producer’s stock after selling 1,055 shares during the period. DnB Asset Management AS’s holdings in EQT were worth $4,935,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of EQT. Thrivent Financial for Lutherans grew its position in EQT by 71.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 30,540 shares of the oil and gas producer’s stock worth $1,119,000 after purchasing an additional 12,723 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of EQT by 51.4% during the third quarter. Cerity Partners LLC now owns 36,754 shares of the oil and gas producer’s stock worth $1,347,000 after buying an additional 12,480 shares during the last quarter. D.A. Davidson & CO. purchased a new position in shares of EQT during the third quarter worth about $209,000. FMR LLC increased its position in EQT by 2.5% in the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after acquiring an additional 28,129 shares during the period. Finally, Townsquare Capital LLC raised its stake in EQT by 69.5% during the 3rd quarter. Townsquare Capital LLC now owns 13,640 shares of the oil and gas producer’s stock valued at $500,000 after acquiring an additional 5,593 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group reissued a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. Morgan Stanley reissued an “overweight” rating and issued a $67.00 price objective (up from $63.00) on shares of EQT in a research note on Wednesday. Citigroup raised their target price on shares of EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research note on Wednesday, January 15th. Finally, Truist Financial raised their price objective on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.11.

EQT Stock Up 1.4 %

EQT opened at $53.07 on Monday. EQT Co. has a one year low of $30.02 and a one year high of $56.66. The company has a market cap of $31.71 billion, a price-to-earnings ratio of 132.68, a PEG ratio of 0.64 and a beta of 1.12. The business’s fifty day moving average is $51.38 and its two-hundred day moving average is $45.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.50 by $0.19. The business had revenue of $1.82 billion for 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%. Analysts anticipate that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a dividend of $0.1575 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.19%. EQT’s dividend payout ratio is currently 157.50%.

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.