Prelude Capital Management LLC decreased its position in shares of EQT Co. (NYSE:EQT – Free Report) by 78.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 8,570 shares of the oil and gas producer’s stock after selling 31,320 shares during the period. Prelude Capital Management LLC’s holdings in EQT were worth $273,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Ahrens Investment Partners LLC acquired a new stake in shares of EQT during the 1st quarter worth approximately $29,000. City Holding Co. bought a new position in EQT in the 1st quarter valued at approximately $32,000. Zullo Investment Group Inc. lifted its stake in EQT by 258.6% in the 4th quarter. Zullo Investment Group Inc. now owns 1,040 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 750 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in EQT by 270.0% in the 1st quarter. Belpointe Asset Management LLC now owns 1,258 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 918 shares during the last quarter. Finally, Clearstead Advisors LLC bought a new position in EQT in the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 99.44% of the company’s stock.
EQT Trading Down 0.8 %
EQT opened at $41.19 on Tuesday. EQT Co. has a twelve month low of $28.10 and a twelve month high of $48.07. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average of $41.90 and a 200-day moving average of $37.23. The stock has a market cap of $14.90 billion, a PE ratio of 4.63, a price-to-earnings-growth ratio of 1.10 and a beta of 1.22.
EQT (NYSE:EQT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The oil and gas producer reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.09. The business had revenue of $993.08 million during the quarter, compared to analysts’ expectations of $1.01 billion. EQT had a net margin of 38.44% and a return on equity of 10.61%. The business’s quarterly revenue was down 38.4% on a year-over-year basis. During the same period last year, the company posted $0.83 earnings per share. On average, sell-side analysts predict that EQT Co. will post 2.01 EPS for the current year.
EQT Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 9th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, August 8th. EQT’s payout ratio is 6.75%.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Truist Financial increased their price objective on shares of EQT from $35.00 to $39.00 and gave the company a “hold” rating in a research note on Monday, September 11th. Wells Fargo & Company increased their price objective on shares of EQT from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, September 1st. Tudor Pickering raised shares of EQT from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. UBS Group dropped their price target on shares of EQT from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 31st. Finally, Morgan Stanley raised their price target on shares of EQT from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, August 18th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.71.
View Our Latest Analysis on EQT
Insiders Place Their Bets
In other EQT news, major shareholder S Wil Vanloh, Jr. sold 20,000,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $41.40, for a total value of $828,000,000.00. Following the completion of the sale, the insider now directly owns 23,946,108 shares in the company, valued at $991,368,871.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.
EQT Company Profile
EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2022, it had 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves across approximately 2.0 million gross acres, including 1.8 million gross acres in the Marcellus play.
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