Brooklyn Investment Group Sells 247 Shares of EQT Co. (NYSE:EQT)

Brooklyn Investment Group lessened its stake in shares of EQT Co. (NYSE:EQT) by 13.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,612 shares of the oil and gas producer’s stock after selling 247 shares during the period. Brooklyn Investment Group’s holdings in EQT were worth $74,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in shares of EQT by 38.7% in the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after purchasing an additional 20,700,921 shares during the last quarter. State Street Corp raised its holdings in EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after buying an additional 7,290,822 shares during the last quarter. Modera Wealth Management LLC bought a new position in shares of EQT in the third quarter worth approximately $562,494,000. Geode Capital Management LLC increased its position in shares of EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after acquiring an additional 3,582,418 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of EQT by 2.9% during the second quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock valued at $335,952,000 after acquiring an additional 253,186 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Buying and Selling at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. This 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 can be accessed through this hyperlink. Insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on EQT shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $49.00 target price on shares of EQT in a research note on Monday, January 6th. Mizuho raised EQT from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $48.00 to $57.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. raised their price target on shares of EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Morgan Stanley boosted their price objective on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, Truist Financial raised their target price on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

EQT Stock Down 1.6 %

Shares of EQT stock opened at $52.93 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. EQT Co. has a one year low of $30.02 and a one year high of $53.98. The company’s fifty day moving average price is $45.83 and its 200-day moving average price is $38.79. The company has a market capitalization of $31.58 billion, a price-to-earnings ratio of 63.02 and a beta of 1.12.

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. The business had revenue of $1.28 billion for 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 business’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 earnings per share. Sell-side analysts expect that EQT Co. will post 1.44 EPS for the current fiscal year.

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.