Whalen Wealth Management Inc. Sells 881 Shares of EQT Co. (NYSE:EQT)

Whalen Wealth Management Inc. lessened its stake in shares of EQT Co. (NYSE:EQT) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,343 shares of the oil and gas producer’s stock after selling 881 shares during the quarter. Whalen Wealth Management Inc.’s holdings in EQT were worth $419,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Park Avenue Securities LLC grew its position in shares of EQT by 3.8% during the 1st quarter. Park Avenue Securities LLC now owns 8,153 shares of the oil and gas producer’s stock worth $302,000 after buying an additional 300 shares during the period. Czech National Bank raised its stake in shares of EQT by 0.5% during the 1st quarter. Czech National Bank now owns 72,374 shares of the oil and gas producer’s stock worth $2,683,000 after purchasing an additional 332 shares in the last quarter. Motley Fool Asset Management LLC grew its position in shares of EQT by 5.1% in the 1st quarter. Motley Fool Asset Management LLC now owns 6,861 shares of the oil and gas producer’s stock valued at $254,000 after acquiring an additional 336 shares during the period. Hancock Whitney Corp lifted its stake in EQT by 3.0% in the 1st quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock valued at $541,000 after purchasing an additional 419 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC raised its stake in EQT by 1.4% in the first quarter. SeaBridge Investment Advisors LLC now owns 30,361 shares of the oil and gas producer’s stock valued at $1,125,000 after buying an additional 428 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Mizuho boosted their target price on EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Wolfe Research started coverage on shares of EQT in a research report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price target on the stock. JPMorgan Chase & Co. raised EQT from a “neutral” rating to an “overweight” rating and set a $42.00 price target on the stock in a research note on Tuesday, July 23rd. BMO Capital Markets increased their target price on shares of EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. Finally, Stephens dropped their price objective on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.35.

EQT Price Performance

Shares of NYSE:EQT traded down $0.98 on Tuesday, reaching $32.53. 625,824 shares of the company were exchanged, compared to its average volume of 7,093,395. The company has a 50-day moving average of $34.38 and a 200-day moving average of $36.77. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The firm has a market cap of $14.36 billion, a price-to-earnings ratio of 23.81 and a beta of 1.12. EQT Co. has a 1-year low of $30.02 and a 1-year high of $45.23.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The firm had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned ($0.17) EPS. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. Equities analysts forecast that EQT Co. will post 1.43 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.94%. The ex-dividend date was Wednesday, August 7th. EQT’s dividend payout ratio (DPR) is presently 45.65%.

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.