Woodline Partners LP Has $77.13 Million Stock Holdings in EQT Co. (NYSE:EQT)

Woodline Partners LP cut its stake in shares of EQT Co. (NYSE:EQT) by 40.7% during the fourth quarter, Holdings Channel reports. The firm owned 1,672,693 shares of the oil and gas producer’s stock after selling 1,145,777 shares during the quarter. Woodline Partners LP’s holdings in EQT were worth $77,128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after purchasing an additional 205 shares during the period. Parkside Financial Bank & Trust raised its position in shares of EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 193 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of EQT during the fourth quarter worth $55,000. First Horizon Advisors Inc. raised its position in shares of EQT by 33.1% during the fourth quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer’s stock worth $55,000 after purchasing an additional 298 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of EQT by 1,343.8% during the fourth quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 1,290 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EQT. Morgan Stanley boosted their target price on EQT from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Piper Sandler upped their price target on EQT from $35.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Mizuho upped their price target on EQT from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. TD Cowen raised EQT from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company upped their price target on EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $56.67.

EQT Stock Performance

Shares of NYSE EQT opened at $55.50 on Tuesday. The business’s 50-day moving average price is $51.71 and its two-hundred day moving average price is $49.04. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT Co. has a one year low of $30.02 and a one year high of $57.04. The company has a market capitalization of $33.22 billion, a P/E ratio of 138.75, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59.

EQT (NYSE:EQT) last released 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 company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. Analysts anticipate that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be paid a dividend of $0.1575 per share. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.14%. EQT’s dividend payout ratio (DPR) is presently 110.53%.

About EQT

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.