EQT Co. (NYSE:EQT) Stake Lessened by Parkside Investments LLC

Parkside Investments LLC lessened its holdings in EQT Co. (NYSE:EQT) by 9.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,000 shares of the oil and gas producer’s stock after selling 2,000 shares during the period. Parkside Investments LLC’s holdings in EQT were worth $1,069,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Apollon Wealth Management LLC acquired a new stake in EQT during the 4th quarter worth about $302,000. Wilmington Savings Fund Society FSB grew its position in EQT by 4.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer’s stock valued at $218,000 after purchasing an additional 223 shares in the last quarter. Stephens Inc. AR increased its stake in EQT by 4.1% in the 4th quarter. Stephens Inc. AR now owns 14,983 shares of the oil and gas producer’s stock valued at $691,000 after buying an additional 588 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of EQT during the 4th quarter valued at $55,000. Finally, Van ECK Associates Corp grew its holdings in shares of EQT by 18.2% during the 4th quarter. Van ECK Associates Corp now owns 659,534 shares of the oil and gas producer’s stock valued at $30,411,000 after acquiring an additional 101,762 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Price Performance

NYSE EQT opened at $55.55 on Friday. The stock has a 50-day simple moving average of $52.95 and a 200 day simple moving average of $50.52. EQT Co. has a twelve month low of $30.02 and a twelve month high of $57.57. The stock has a market capitalization of $33.25 billion, a PE ratio of 138.88, a P/E/G ratio of 0.64 and a beta of 0.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating 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 analysts’ expectations of $2.16 billion. Research analysts anticipate that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th were given a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.13%. EQT’s dividend payout ratio is 110.53%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Piper Sandler lifted their price objective on EQT from $35.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. UBS Group raised EQT from a “neutral” rating to a “buy” rating and boosted their price target for the company from $54.00 to $64.00 in a research note on Monday, May 5th. Morgan Stanley lifted their target price on shares of EQT from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. 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 note on Tuesday, April 1st. Finally, Stephens cut their price target on shares of EQT from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.11.

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.