Franklin Resources Inc. Sells 36,142 Shares of EQT Co. (NYSE:EQT)

Franklin Resources Inc. trimmed its holdings in EQT Co. (NYSE:EQT - Free Report) by 11.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 280,803 shares of the oil and gas producer's stock after selling 36,142 shares during the quarter. Franklin Resources Inc.'s holdings in EQT were worth $12,948,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quarry LP boosted its stake in shares of EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer's stock worth $33,000 after acquiring an additional 578 shares in the last quarter. Financial Avengers Inc. raised its holdings in EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer's stock worth $37,000 after buying an additional 504 shares during the period. EverSource Wealth Advisors LLC lifted its stake in EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock valued at $45,000 after buying an additional 205 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of EQT by 22.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer's stock worth $48,000 after buying an additional 193 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in shares of EQT in the fourth quarter worth approximately $55,000. 90.81% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a "reduce" rating on shares of EQT in a research note on Wednesday, February 12th. Truist Financial raised their target price on EQT from $41.00 to $56.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Royal Bank of Canada reissued a "sector perform" rating and set a $49.00 price target on shares of EQT in a research report on Monday, January 6th. Jefferies Financial Group raised their price objective on EQT from $45.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. upped their target price on EQT from $58.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $55.72.

EQT Stock Up 2.4 %

Shares of EQT stock traded up $1.17 during midday trading on Friday, reaching $49.66. 8,892,353 shares of the company's stock traded hands, compared to its average volume of 7,770,694. 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 Co. has a 52 week low of $30.02 and a 52 week high of $56.66. The company's 50 day simple moving average is $50.93 and its 200 day simple moving average is $46.18. The company has a market cap of $29.67 billion, a price-to-earnings ratio of 124.16, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35.

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

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 dividend on an annualized basis and a yield of 1.27%. EQT's payout ratio is currently 157.50%.

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.