Swedbank AB Sells 41,749 Shares of EQT Co. (NYSE:EQT)

Swedbank AB lessened its position in EQT Co. (NYSE:EQT) by 22.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,658 shares of the oil and gas producer’s stock after selling 41,749 shares during the quarter. Swedbank AB’s holdings in EQT were worth $5,410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Pitcairn Co. raised its holdings in shares of EQT by 26.2% during the 3rd quarter. Pitcairn Co. now owns 8,647 shares of the oil and gas producer’s stock valued at $317,000 after buying an additional 1,794 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of EQT by 51.4% in the 3rd quarter. Cerity Partners LLC now owns 36,754 shares of the oil and gas producer’s stock valued at $1,347,000 after purchasing an additional 12,480 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of EQT by 23.2% during the 3rd quarter. Kingsview Wealth Management LLC now owns 247,613 shares of the oil and gas producer’s stock valued at $9,073,000 after purchasing an additional 46,596 shares during the last quarter. Great Valley Advisor Group Inc. purchased a new position in EQT in the 3rd quarter worth $209,000. Finally, Nicolet Advisory Services LLC purchased a new stake in EQT during the third quarter valued at about $207,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup raised EQT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $37.00 to $44.00 in a research note on Thursday, October 3rd. Bank of America began coverage on EQT in a research note on Monday, October 28th. They set a “buy” rating and a $50.00 price objective for the company. Morgan Stanley lifted their target price on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday. Piper Sandler increased their price target on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, Stephens boosted their price objective on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, EQT currently has an average rating of “Moderate Buy” and an average target price of $44.67.

EQT Stock Performance

Shares of EQT stock opened at $45.29 on Thursday. The business has a fifty day simple moving average of $38.93 and a two-hundred day simple moving average of $37.11. The firm has a market capitalization of $27.02 billion, a P/E ratio of 53.92 and a beta of 1.06. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a 12 month low of $30.02 and a 12 month high of $48.02.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. EQT’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. On average, equities analysts forecast that EQT Co. will post 1.38 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be paid a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.39%. EQT’s payout ratio is currently 75.00%.

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.