Raymond James Financial Services Advisors Inc. Lowers Position in EQT Co. (NYSE:EQT)

Raymond James Financial Services Advisors Inc. decreased its position in EQT Co. (NYSE:EQT – Get Rating) by 13.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,415 shares of the oil and gas producer’s stock after selling 11,643 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in EQT were worth $2,585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of EQT by 19.8% in the third quarter. Vanguard Group Inc. now owns 38,038,225 shares of the oil and gas producer’s stock valued at $1,550,057,000 after acquiring an additional 6,293,070 shares in the last quarter. Capital World Investors purchased a new stake in EQT during the first quarter worth about $497,156,000. Clearbridge Investments LLC boosted its holdings in EQT by 66.1% during the first quarter. Clearbridge Investments LLC now owns 11,115,761 shares of the oil and gas producer’s stock worth $382,493,000 after buying an additional 4,423,003 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in EQT by 6,029.6% during the first quarter. Renaissance Technologies LLC now owns 6,424,264 shares of the oil and gas producer’s stock worth $221,059,000 after buying an additional 6,319,457 shares in the last quarter. Finally, PointState Capital LP purchased a new stake in EQT during the first quarter worth about $163,646,000. Hedge funds and other institutional investors own 97.60% of the company’s stock.

Analysts Set New Price Targets

EQT has been the subject of a number of research reports. TD Securities cut their target price on shares of EQT from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, February 17th. Wells Fargo & Company cut their target price on shares of EQT from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Tuesday, April 11th. Truist Financial boosted their price objective on shares of EQT from $28.00 to $37.00 in a research report on Monday, May 1st. Stephens started coverage on shares of EQT in a research report on Monday, April 24th. They issued an “equal weight” rating and a $36.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $50.00 price objective on shares of EQT in a research report on Tuesday, March 7th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.59.

EQT Trading Up 0.2 %

NYSE EQT opened at $36.31 on Tuesday. EQT Co. has a 12 month low of $28.10 and a 12 month high of $51.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of 3.22, a price-to-earnings-growth ratio of 0.66 and a beta of 1.17. The company’s fifty day moving average price is $32.39 and its two-hundred day moving average price is $34.47.

EQT (NYSE:EQT – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The oil and gas producer reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.38. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.77 billion. EQT had a net margin of 41.96% and a return on equity of 15.17%. The firm’s revenue was down 26.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 EPS. As a group, research analysts predict that EQT Co. will post 2.73 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Wednesday, May 10th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Tuesday, May 9th. EQT’s dividend payout ratio (DPR) is presently 5.33%.

About EQT

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EQT Corp. is a natural gas production company, which engages in the supply, transmission, and distribution of natural gas. The company was founded in 1888 and is headquartered in Pittsburgh, PA.