Alliancebernstein L.P. Reduces Position in EQT Co. (NYSE:EQT)

Alliancebernstein L.P. lessened its holdings in EQT Co. (NYSE:EQT) by 18.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 784,649 shares of the oil and gas producer’s stock after selling 182,761 shares during the quarter. Alliancebernstein L.P. owned about 0.13% of EQT worth $36,180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP grew its holdings in EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 578 shares during the period. Financial Avengers Inc. raised its holdings in shares of 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 acquiring an additional 504 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in EQT by 26.6% in the 4th 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 in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of EQT by 22.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after buying an additional 193 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in EQT in the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EQT shares. Morgan Stanley reissued an “overweight” rating and set a $67.00 price target (up previously from $63.00) on shares of EQT in a research report on Wednesday, March 26th. Citigroup lifted their price objective on EQT from $51.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Truist Financial lifted their price objective on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company upped their price target on EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, March 19th. Finally, The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. 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. According to data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and an average target price of $55.28.

EQT Stock Down 11.6 %

EQT opened at $46.02 on Friday. The company has a market cap of $27.50 billion, a PE ratio of 115.06, a P/E/G ratio of 0.64 and a beta of 1.12. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average price of $51.25 and a two-hundred day moving average price of $45.59. EQT Co. has a 52 week low of $30.02 and a 52 week high of $56.66.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.19. The firm 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%. As a group, research analysts anticipate that EQT Co. will post 3.27 EPS for the current year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Tuesday, February 18th. EQT’s dividend payout ratio (DPR) is 157.50%.

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.