First Trust Advisors LP Decreases Position in EQT Co. (NYSE:EQT)

First Trust Advisors LP lowered its stake in shares of EQT Co. (NYSE:EQT - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,049,214 shares of the oil and gas producer's stock after selling 147,819 shares during the period. First Trust Advisors LP owned 0.18% of EQT worth $48,379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Bard Financial Services Inc. bought a new stake in EQT during the third quarter valued at about $878,000. Wilmington Savings Fund Society FSB bought a new stake in shares of EQT in the 3rd quarter valued at about $165,000. Blankinship & Foster LLC bought a new position in shares of EQT during the 3rd quarter worth approximately $4,051,000. Tidal Investments LLC lifted its position in EQT by 55.8% during the third quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer's stock valued at $2,228,000 after acquiring an additional 21,789 shares during the last quarter. Finally, Synovus Financial Corp purchased a new stake in EQT during the third quarter valued at approximately $1,069,000. Institutional investors own 90.81% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on EQT shares. Truist Financial upped their price target on EQT from $41.00 to $56.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Scotiabank cut EQT from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the company from $55.00 to $54.00 in a research note on Friday, January 17th. The Goldman Sachs Group restated a "reduce" rating on shares of EQT in a research note on Wednesday, February 12th. UBS Group decreased their price objective on shares of EQT from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Morgan Stanley boosted their target price on shares of EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $55.39.

EQT Stock Performance

Shares of EQT traded up $1.09 during trading hours on Monday, hitting $51.33. The stock had a trading volume of 4,276,700 shares, compared to its average volume of 8,690,636. The firm has a 50-day moving average price of $50.31 and a 200 day moving average price of $47.16. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. The firm has a market capitalization of $30.72 billion, a price-to-earnings ratio of 128.22, a PEG ratio of 0.64 and a beta of 1.35. 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 - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.20. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. As a group, research analysts anticipate that EQT Co. will post 3.27 EPS for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be given a dividend of $0.1575 per share. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.23%. EQT's dividend payout ratio (DPR) is 110.53%.

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.