EQT Co. (NYSE:EQT) Stock Position Reduced by Concentric Capital Strategies LP

Concentric Capital Strategies LP decreased its stake in EQT Co. (NYSE:EQT) by 65.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,178 shares of the oil and gas producer’s stock after selling 134,981 shares during the quarter. Concentric Capital Strategies LP’s holdings in EQT were worth $3,236,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its position in EQT by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock valued at $3,344,371,000 after acquiring an additional 358,649 shares in the last quarter. Geode Capital Management LLC boosted its holdings in EQT by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock worth $663,552,000 after purchasing an additional 429,733 shares in the last quarter. Capital International Investors increased its position in EQT by 21.3% during the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock worth $638,867,000 after buying an additional 2,433,632 shares during the last quarter. Clearbridge Investments LLC raised its holdings in EQT by 14.7% during 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 buying an additional 1,774,696 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of EQT by 46.3% in 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. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Trading Up 0.9 %

Shares of EQT stock opened at $53.95 on Thursday. EQT Co. has a 52-week low of $30.02 and a 52-week high of $56.66. The firm has a market capitalization of $32.30 billion, a PE ratio of 134.89, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The company’s fifty day moving average price is $50.62 and its two-hundred day moving average price is $47.85.

EQT (NYSE:EQT) last posted its quarterly 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 firm had revenue of $2.15 billion during 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%. On average, analysts expect that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.17%. The ex-dividend date is Wednesday, May 7th. EQT’s dividend payout ratio is 110.53%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Mizuho raised their price objective on EQT from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a research note on Wednesday, January 15th. TD Cowen upgraded shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group reissued a “reduce” rating on shares of EQT in a research report on Wednesday, February 12th. Finally, StockNews.com downgraded EQT from a “hold” rating to a “sell” rating in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and an average target price of $55.94.

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.