Wellington Management Group LLP Trims Stake in EQT Co. (NYSE:EQT)

Wellington Management Group LLP lowered its position in shares of EQT Co. (NYSE:EQT - Free Report) by 28.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,342,143 shares of the oil and gas producer's stock after selling 20,810,907 shares during the quarter. Wellington Management Group LLP owned about 8.93% of EQT worth $2,459,606,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EQT. Thrivent Financial for Lutherans lifted its position in shares of EQT by 71.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 30,540 shares of the oil and gas producer's stock valued at $1,119,000 after acquiring an additional 12,723 shares during the period. Cerity Partners LLC raised its stake in EQT by 51.4% in the third quarter. Cerity Partners LLC now owns 36,754 shares of the oil and gas producer's stock valued at $1,347,000 after purchasing an additional 12,480 shares in the last quarter. D.A. Davidson & CO. bought a new stake in EQT during the third quarter worth about $209,000. FMR LLC grew its stake in EQT by 2.5% during the third quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer's stock worth $41,520,000 after buying an additional 28,129 shares in the last quarter. Finally, Townsquare Capital LLC increased its holdings in EQT by 69.5% in the 3rd quarter. Townsquare Capital LLC now owns 13,640 shares of the oil and gas producer's stock valued at $500,000 after buying an additional 5,593 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EQT has been the topic of several analyst reports. Mizuho increased their price target on shares of EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $49.00 target price on shares of EQT in a report on Monday, January 6th. Piper Sandler boosted their price target on EQT from $35.00 to $36.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. Truist Financial raised their price objective on EQT from $41.00 to $56.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $67.00 target price (up previously from $63.00) on shares of EQT in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $55.28.

Remove Ads

EQT Stock Performance

NYSE EQT traded up $0.78 during trading hours on Wednesday, reaching $54.66. 7,590,876 shares of the company were exchanged, compared to its average volume of 7,513,908. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $32.66 billion, a P/E ratio of 136.65, a P/E/G ratio of 0.64 and a beta of 1.12. EQT Co. has a 1 year low of $30.02 and a 1 year high of $56.66. The business's 50 day simple moving average is $51.40 and its 200-day simple moving average is $45.31.

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, topping the consensus estimate of $0.50 by $0.19. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. On average, equities research analysts expect that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.15%. EQT's dividend payout ratio (DPR) is 157.50%.

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.