Swedbank AB Sells 41,749 Shares of EQT Co. (NYSE:EQT)

Swedbank AB reduced its position in shares of EQT Co. (NYSE:EQT) by 22.0% in the third quarter, Holdings Channel reports. The firm owned 147,658 shares of the oil and gas producer’s stock after selling 41,749 shares during the quarter. Swedbank AB’s holdings in EQT were worth $5,410,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of EQT. Davis Investment Partners LLC raised its holdings in EQT by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock worth $1,137,000 after acquiring an additional 317 shares during the last quarter. Hancock Whitney Corp increased its holdings in shares of EQT by 3.0% in the 1st quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock worth $541,000 after purchasing an additional 419 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of EQT by 7.4% in the third quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock worth $224,000 after purchasing an additional 421 shares during the last quarter. SeaBridge Investment Advisors LLC lifted its holdings in shares of EQT by 1.4% during the second quarter. SeaBridge Investment Advisors LLC now owns 30,792 shares of the oil and gas producer’s stock valued at $1,139,000 after purchasing an additional 431 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of EQT by 40.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,498 shares of the oil and gas producer’s stock valued at $55,000 after buying an additional 434 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Stock Down 0.6 %

Shares of EQT stock opened at $45.29 on Thursday. The company has a market capitalization of $27.02 billion, a price-to-earnings ratio of 53.92 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The company’s fifty day moving average price is $38.93 and its 200-day moving average price is $37.11. EQT Co. has a one year low of $30.02 and a one year high of $48.02.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. Sell-side analysts expect that EQT Co. will post 1.38 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is currently 75.00%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. UBS Group upped their target price on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Bank of America started coverage on shares of EQT in a research report on Monday, October 28th. They issued a “buy” rating and a $50.00 target price for the company. Truist Financial increased their price target on EQT from $32.00 to $41.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Mizuho lifted their price objective on EQT from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and an average target price of $44.67.

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.