EQT Co. (NYSE:EQT) Shares Sold by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC cut its holdings in shares of EQT Co. (NYSE:EQT) by 33.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,000 shares of the oil and gas producer’s stock after selling 25,100 shares during the period. Pier 88 Investment Partners LLC’s holdings in EQT were worth $1,894,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Huntington National Bank grew its position in shares of EQT by 20.0% during the 3rd quarter. Huntington National Bank now owns 1,792 shares of the oil and gas producer’s stock valued at $73,000 after acquiring an additional 299 shares during the period. UniSuper Management Pty Ltd grew its position in shares of EQT by 13.0% during the 3rd quarter. UniSuper Management Pty Ltd now owns 2,600 shares of the oil and gas producer’s stock valued at $106,000 after acquiring an additional 300 shares during the period. Perigon Wealth Management LLC grew its position in shares of EQT by 2.1% during the 4th quarter. Perigon Wealth Management LLC now owns 14,471 shares of the oil and gas producer’s stock valued at $559,000 after acquiring an additional 303 shares during the period. Arizona State Retirement System boosted its holdings in EQT by 0.3% in the 3rd quarter. Arizona State Retirement System now owns 98,663 shares of the oil and gas producer’s stock worth $4,004,000 after buying an additional 318 shares during the last quarter. Finally, New York Life Investment Management LLC boosted its holdings in EQT by 0.7% in the 3rd quarter. New York Life Investment Management LLC now owns 51,797 shares of the oil and gas producer’s stock worth $2,102,000 after buying an additional 343 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Trading Up 0.6 %

Shares of NYSE EQT traded up $0.24 during mid-day trading on Friday, reaching $40.15. 6,920,313 shares of the company’s stock were exchanged, compared to its average volume of 6,162,985. The firm has a market capitalization of $17.73 billion, a price-to-earnings ratio of 29.09 and a beta of 1.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. EQT Co. has a 52-week low of $32.07 and a 52-week high of $45.23. The company’s 50-day moving average is $38.13 and its 200-day moving average is $37.58.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.58 billion. EQT had a return on equity of 4.57% and a net margin of 10.96%. The company’s revenue was down 28.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.70 EPS. Analysts expect that EQT Co. will post 1.03 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 8th will be paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.57%. The ex-dividend date is Tuesday, May 7th. EQT’s payout ratio is 45.65%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EQT shares. Stephens lifted their price objective on EQT from $46.00 to $47.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th. TD Cowen started coverage on EQT in a report on Friday, April 19th. They issued a “hold” rating and a $43.00 price objective on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $37.00 target price (down from $39.00) on shares of EQT in a research note on Wednesday, March 20th. The Goldman Sachs Group lowered their target price on EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Finally, Truist Financial dropped their price target on EQT from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $44.94.

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.