NewEdge Advisors LLC Decreases Stock Holdings in EQT Co. (NYSE:EQT)

NewEdge Advisors LLC decreased its holdings in EQT Co. (NYSE:EQT - Free Report) by 48.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,121 shares of the oil and gas producer's stock after selling 28,696 shares during the quarter. NewEdge Advisors LLC's holdings in EQT were worth $1,389,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in EQT by 46.3% during the fourth quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer's stock worth $606,059,000 after buying an additional 4,162,065 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of EQT by 386.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer's stock valued at $205,830,000 after purchasing an additional 3,454,741 shares during the last quarter. Raymond James Financial Inc. bought a new position in EQT in the fourth quarter valued at $113,924,000. Clearbridge Investments LLC increased its position in shares of EQT by 14.7% in the fourth quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer's stock valued at $637,698,000 after acquiring an additional 1,774,696 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of EQT during the 4th quarter worth approximately $67,977,000. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Stock Up 2.0 %

Shares of EQT traded up $1.01 during trading hours on Monday, reaching $51.25. 3,898,346 shares of the stock traded hands, compared to its average volume of 8,686,571. EQT Co. has a 52 week low of $30.02 and a 52 week high of $56.66. The stock has a fifty day simple moving average of $50.31 and a 200 day simple moving average of $47.16. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The company has a market cap of $30.68 billion, a price-to-earnings ratio of 128.14, a PEG ratio of 0.64 and a beta of 1.35.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.20. EQT had a return on equity of 4.35% and a net margin of 4.37%. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. On average, equities analysts forecast that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT's dividend payout ratio is presently 110.53%.

Analyst Upgrades and Downgrades

EQT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Truist Financial increased their price objective on EQT from $41.00 to $56.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Piper Sandler lowered their price objective on EQT from $36.00 to $35.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Scotiabank downgraded shares of EQT from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the company from $55.00 to $54.00 in a research report on Friday, January 17th. Finally, Morgan Stanley increased their price target on EQT from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Thursday. 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 company has an average rating of "Moderate Buy" and a consensus target price of $55.39.

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.