Synovus Financial Corp Lowers Stock Holdings in EQT Co. (NYSE:EQT)

Synovus Financial Corp lessened its stake in EQT Co. (NYSE:EQT - Free Report) by 42.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,777 shares of the oil and gas producer's stock after selling 12,396 shares during the period. Synovus Financial Corp's holdings in EQT were worth $774,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQT. Summit Investment Advisors Inc. increased its holdings in shares of EQT by 7.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 46,476 shares of the oil and gas producer's stock valued at $2,143,000 after purchasing an additional 3,155 shares during the period. Townsquare Capital LLC increased its stake in EQT by 44.8% in the 4th quarter. Townsquare Capital LLC now owns 19,754 shares of the oil and gas producer's stock valued at $911,000 after buying an additional 6,114 shares during the period. Qtron Investments LLC acquired a new position in EQT in the 4th quarter valued at $411,000. Philadelphia Trust Co. purchased a new position in EQT during the 4th quarter worth $327,000. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of EQT by 412.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 507,838 shares of the oil and gas producer's stock worth $23,416,000 after acquiring an additional 408,694 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Price Performance

EQT stock traded up $0.81 on Tuesday, reaching $48.49. The company had a trading volume of 6,594,022 shares, compared to its average volume of 7,770,383. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The company's fifty day moving average is $50.56 and its 200 day moving average is $46.83. The company has a market cap of $28.97 billion, a P/E ratio of 121.23, a PEG ratio of 0.64 and a beta of 1.35. EQT Co. has a 1 year low of $30.02 and a 1 year high of $56.66.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.20. EQT had a return on equity of 4.35% and a net margin of 4.37%. On average, research analysts forecast that EQT Co. will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be issued a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.30%. EQT's dividend payout ratio (DPR) is presently 157.50%.

Analysts Set New Price Targets

A number of brokerages recently commented on EQT. Jefferies Financial Group raised their price objective on shares of EQT from $45.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Piper Sandler reduced their price target on EQT from $36.00 to $35.00 and set a "neutral" rating for the company in a report on Tuesday. UBS Group decreased their price target on EQT from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Stephens cut their price objective on EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, Truist Financial boosted their target price on shares of EQT from $41.00 to $56.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.50.

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.