DnB Asset Management AS Lowers Stake in EQT Co. (NYSE:EQT)

DnB Asset Management AS lowered its position in shares of EQT Co. (NYSE:EQT) by 1.0% during the fourth quarter, Holdings Channel reports. The fund owned 107,019 shares of the oil and gas producer’s stock after selling 1,055 shares during the quarter. DnB Asset Management AS’s holdings in EQT were worth $4,935,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC boosted its holdings in shares of EQT by 104.7% during the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after purchasing an additional 32,484 shares during the last quarter. Retirement Systems of Alabama lifted its position in EQT by 36.7% during the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after buying an additional 35,733 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in EQT by 44.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer’s stock worth $2,379,000 after buying an additional 16,416 shares during the last quarter. FMR LLC grew its holdings in EQT by 2.5% in the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after buying an additional 28,129 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in shares of EQT by 13.4% during the 4th quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock worth $298,000 after acquiring an additional 762 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Stock Performance

EQT stock opened at $53.07 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The firm’s fifty day moving average price is $51.38 and its 200 day moving average price is $45.02. The company has a market capitalization of $31.71 billion, a price-to-earnings ratio of 132.68, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. EQT Co. has a 12-month low of $30.02 and a 12-month high of $56.66.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. On average, research analysts forecast that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EQT. Piper Sandler boosted their target price on shares of EQT from $35.00 to $36.00 and gave the company 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 research note on Wednesday, March 19th. Stephens raised EQT from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $41.00 to $59.00 in a research report on Tuesday, March 18th. Truist Financial boosted their price target on EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. raised their price objective on EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.11.

EQT 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.