Trek Financial LLC Sells 20,875 Shares of EQT Co. (NYSE:EQT)

Trek Financial LLC cut its stake in shares of EQT Co. (NYSE:EQT - Free Report) by 16.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 108,367 shares of the oil and gas producer's stock after selling 20,875 shares during the period. Trek Financial LLC's holdings in EQT were worth $4,997,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of EQT. Peapack Gladstone Financial Corp bought a new stake in EQT during the fourth quarter valued at approximately $227,000. Quadrant Capital Group LLC boosted its stake in shares of EQT by 3.4% during the 4th quarter. Quadrant Capital Group LLC now owns 10,762 shares of the oil and gas producer's stock worth $496,000 after acquiring an additional 349 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of EQT by 246.1% during the 4th quarter. Russell Investments Group Ltd. now owns 425,368 shares of the oil and gas producer's stock valued at $19,614,000 after acquiring an additional 302,467 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of EQT by 31.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 388,331 shares of the oil and gas producer's stock worth $17,906,000 after purchasing an additional 91,923 shares in the last quarter. Finally, Aviva PLC bought a new position in EQT in the 4th quarter worth $14,719,000. 90.81% of the stock is owned by institutional investors.

EQT Price Performance

Shares of NYSE EQT traded up $1.58 during mid-day trading on Friday, hitting $50.07. 4,007,599 shares of the company's stock traded hands, compared to its average volume of 7,745,451. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT Co. has a 1 year low of $30.02 and a 1 year high of $56.66. The company's 50-day moving average is $50.98 and its two-hundred day moving average is $46.08. The company has a market capitalization of $29.91 billion, a P/E ratio of 124.46, a PEG ratio of 0.64 and a beta of 1.35.

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EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.19. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. On average, equities analysts anticipate that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a $0.1575 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.26%. EQT's dividend payout ratio is presently 157.50%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley reissued an "overweight" rating and set a $67.00 price target (up previously from $63.00) on shares of EQT in a report on Wednesday, March 26th. Jefferies Financial Group upped their price target on shares of EQT from $45.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Sanford C. Bernstein upgraded shares of EQT from a "market perform" rating to an "outperform" rating and set a $73.00 price objective on the stock in a research report on Wednesday, January 15th. Piper Sandler upped their target price on shares of EQT from $35.00 to $36.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. Finally, StockNews.com cut EQT from a "hold" rating to a "sell" rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.72.

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.