Crescent Grove Advisors LLC Reduces Holdings in EQT Co. (NYSE:EQT)

Crescent Grove Advisors LLC lowered its holdings in shares of EQT Co. (NYSE:EQT) by 46.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,727 shares of the oil and gas producer’s stock after selling 5,008 shares during the quarter. Crescent Grove Advisors LLC’s holdings in EQT were worth $264,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sanctuary Advisors LLC raised its position in shares of EQT by 104.7% during the 3rd 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 raised its holdings in shares of EQT by 36.7% in 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 acquiring an additional 35,733 shares during the last quarter. FMR LLC raised its holdings in shares of EQT by 2.5% in the third quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock worth $41,520,000 after acquiring an additional 28,129 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of EQT by 15.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer’s stock valued at $1,914,000 after acquiring an additional 5,489 shares during the last quarter. Finally, Howard Financial Services LTD. acquired a new stake in shares of EQT during the fourth quarter valued at $223,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. BMO Capital Markets upped their target price on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Citigroup upped their price objective on shares of EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Stephens lifted their target price on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein raised EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research note on Wednesday, January 15th. Finally, UBS Group lifted their price objective on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.89.

EQT Trading Up 0.4 %

Shares of EQT stock opened at $53.78 on Monday. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $54.85. The firm’s 50 day moving average price is $46.84 and its two-hundred day moving average price is $39.37. The stock has a market cap of $32.09 billion, a price-to-earnings ratio of 64.03 and a beta of 1.12. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 EPS. On average, analysts anticipate that EQT Co. will post 1.42 EPS for the current year.

Insider Activity at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares of the company’s stock, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.63% of the company’s stock.

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.