American Century Companies Inc. Decreases Stock Holdings in EQT Co. (NYSE:EQT)

American Century Companies Inc. cut its stake in EQT Co. (NYSE:EQT) by 31.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,391,732 shares of the oil and gas producer’s stock after selling 1,073,249 shares during the period. American Century Companies Inc.’s holdings in EQT were worth $110,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in EQT. Atria Investments Inc acquired a new stake in shares of EQT in the 3rd quarter worth $201,000. Thrivent Financial for Lutherans grew its holdings in shares of EQT by 71.4% in the third quarter. Thrivent Financial for Lutherans now owns 30,540 shares of the oil and gas producer’s stock valued at $1,119,000 after purchasing an additional 12,723 shares during the period. Pathstone Holdings LLC increased its position in EQT by 33.9% during the third quarter. Pathstone Holdings LLC now owns 75,051 shares of the oil and gas producer’s stock worth $2,750,000 after purchasing an additional 19,013 shares during the last quarter. Caprock Group LLC purchased a new position in EQT during the third quarter worth about $223,000. Finally, Prospera Financial Services Inc grew its stake in shares of EQT by 19.0% in the 3rd quarter. Prospera Financial Services Inc now owns 10,471 shares of the oil and gas producer’s stock valued at $384,000 after buying an additional 1,669 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Down 1.6 %

EQT stock opened at $52.89 on Monday. The firm has a market capitalization of $31.60 billion, a P/E ratio of 132.23, a P/E/G ratio of 0.64 and a beta of 1.12. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66. The stock’s fifty day simple moving average is $51.25 and its 200-day simple moving average is $44.28.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.19. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. As a group, equities analysts expect that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a $0.1575 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 annualized dividend and a yield of 1.19%. EQT’s dividend payout ratio (DPR) is 157.50%.

Analysts Set New Price Targets

Several research firms have recently commented on EQT. Stephens raised shares of EQT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $41.00 to $59.00 in a research report on Tuesday, March 18th. UBS Group lifted their target price on EQT from $54.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Piper Sandler increased their price target on EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Wells Fargo & Company boosted their price objective on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, March 19th. Finally, Citigroup increased their target price on shares of EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, EQT currently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

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.