Orion Portfolio Solutions LLC Decreases Stock Position in EQT Co. (NYSE:EQT)

Orion Portfolio Solutions LLC reduced its position in EQT Co. (NYSE:EQT) by 17.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,721 shares of the oil and gas producer’s stock after selling 4,964 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in EQT were worth $869,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in EQT by 38.7% during the third 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 acquiring an additional 20,700,921 shares during the last quarter. State Street Corp lifted its position in EQT by 24.5% during 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 in the last quarter. Bank of New York Mellon Corp increased its stake in shares of EQT by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after acquiring an additional 464,781 shares during the last quarter. Modera Wealth Management LLC purchased a new position in shares of EQT during the 3rd quarter worth $562,494,000. Finally, Clearbridge Investments LLC boosted its position in shares of EQT by 2.9% during the 2nd 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 during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Price Performance

Shares of NYSE EQT opened at $45.59 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. The company has a market cap of $27.20 billion, a price-to-earnings ratio of 54.27 and a beta of 1.14. The stock’s 50-day moving average is $41.00 and its two-hundred day moving average is $37.41. EQT Co. has a 1-year low of $30.02 and a 1-year high of $48.02.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the company earned $0.30 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. Analysts forecast that EQT Co. will post 1.37 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th were given a dividend of $0.1575 per share. The ex-dividend date was Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.38%. EQT’s dividend payout ratio (DPR) is currently 75.00%.

Insider Buying and Selling

In other EQT news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares of the company’s stock, valued at $9,038,086.64. The trade was a 13.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on EQT shares. Sanford C. Bernstein assumed coverage on shares of EQT in a research report on Friday, December 6th. They set a “market perform” rating and a $50.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $49.00 target price on shares of EQT in a research report on Tuesday, December 3rd. Piper Sandler upped their target price 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. BMO Capital Markets lifted their price target on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, UBS Group upped their price objective on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, EQT presently has an average rating of “Hold” and a consensus target price of $46.11.

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.