Appaloosa LP Sells 995,000 Shares of EQT Co. (NYSE:EQT)

Appaloosa LP lessened its position in EQT Co. (NYSE:EQT) by 55.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 800,000 shares of the oil and gas producer’s stock after selling 995,000 shares during the period. Appaloosa LP owned about 0.13% of EQT worth $36,888,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of EQT in the third quarter worth approximately $30,000. Quarry LP lifted its position in EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the period. EverSource Wealth Advisors LLC lifted its position in EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 205 shares during the period. Brown Brothers Harriman & Co. bought a new position in EQT during the third quarter valued at approximately $36,000. Finally, Financial Avengers Inc. lifted its position in EQT by 100.8% during the third quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 504 shares during the period. Institutional investors own 90.81% of the company’s stock.

EQT Price Performance

EQT stock opened at $49.03 on Thursday. EQT Co. has a 12 month low of $30.02 and a 12 month high of $56.66. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $50.71 and a 200 day moving average price of $43.28. The stock has a market cap of $29.29 billion, a PE ratio of 122.57, a P/E/G ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.19. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. Equities research analysts anticipate that EQT Co. will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.29%. EQT’s dividend payout ratio is currently 157.50%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective on the stock in a research report on Wednesday, January 15th. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $48.00 to $57.00 in a research report on Monday, December 16th. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a research report on Wednesday, February 12th. Morgan Stanley increased their price target on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, Wells Fargo & Company increased their price target on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, EQT presently has an average rating of “Hold” and an average price target of $52.44.

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.