Commerce Bank Decreases Stake in EQT Co. (NYSE:EQT)

Commerce Bank cut its holdings in EQT Co. (NYSE:EQT) by 3.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 548,885 shares of the oil and gas producer’s stock after selling 19,540 shares during the quarter. Commerce Bank’s holdings in EQT were worth $21,220,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of EQT. Vanguard Group Inc. boosted its position in EQT by 8.6% during the third quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock worth $1,822,027,000 after purchasing an additional 3,539,661 shares in the last quarter. Wellington Management Group LLP boosted its position in EQT by 61.9% during the third quarter. Wellington Management Group LLP now owns 19,687,594 shares of the oil and gas producer’s stock worth $798,923,000 after purchasing an additional 7,526,875 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of EQT by 15.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,865,008 shares of the oil and gas producer’s stock worth $149,421,000 after acquiring an additional 519,294 shares during the last quarter. Northern Trust Corp raised its holdings in shares of EQT by 8.9% in the third quarter. Northern Trust Corp now owns 3,657,338 shares of the oil and gas producer’s stock worth $148,415,000 after acquiring an additional 300,326 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of EQT by 12.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,534,575 shares of the oil and gas producer’s stock worth $136,658,000 after acquiring an additional 380,564 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on EQT shares. Scotiabank boosted their price target on EQT from $52.00 to $54.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 9th. BMO Capital Markets boosted their price target on EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. Piper Sandler reissued an “overweight” rating and issued a $46.00 price target (up from $41.00) on shares of EQT in a report on Tuesday, April 30th. Morgan Stanley upped their target price on EQT from $37.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. reiterated 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.94.

EQT Trading Up 0.7 %

EQT stock traded up $0.28 during trading on Friday, reaching $40.19. 3,857,233 shares of the stock traded hands, compared to its average volume of 6,476,205. The business’s 50 day moving average price is $38.00 and its 200-day moving average price is $37.63. EQT Co. has a 52-week low of $32.07 and a 52-week high of $45.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $17.75 billion, a PE ratio of 29.51 and a beta of 1.09.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the business earned $1.70 earnings per share. The company’s revenue was down 28.8% compared to the same quarter last year. As a group, sell-side analysts forecast that EQT Co. will post 1.03 earnings per share for the current year.

EQT Dividend Announcement

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

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.