Pictet Asset Management Holding SA Sells 2,997 Shares of EQT Co. (NYSE:EQT)

Pictet Asset Management Holding SA cut its stake in shares of EQT Co. (NYSE:EQT) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 213,828 shares of the oil and gas producer’s stock after selling 2,997 shares during the quarter. Pictet Asset Management Holding SA’s holdings in EQT were worth $9,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP grew its position in EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 578 shares in the last quarter. Financial Avengers Inc. boosted its holdings in shares of EQT by 100.8% in the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 504 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 205 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of EQT by 22.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 193 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in shares of EQT during the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Mizuho increased their price target on shares of EQT from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday. UBS Group lifted their target price on shares of EQT from $54.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. StockNews.com upgraded shares of EQT from a “sell” rating to a “hold” rating in a research report on Tuesday, March 25th. Citigroup lifted their price objective on EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Finally, Jefferies Financial Group increased their target price on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.28.

EQT Trading Up 1.4 %

Shares of EQT opened at $54.66 on Thursday. EQT Co. has a 1-year low of $30.02 and a 1-year high of $56.66. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The firm’s 50-day moving average price is $51.43 and its 200-day moving average price is $45.37. The firm has a market capitalization of $32.66 billion, a price-to-earnings ratio of 136.65, a PEG ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.19. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. Sell-side analysts anticipate that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.15%. The ex-dividend date was Tuesday, February 18th. EQT’s dividend payout ratio is currently 157.50%.

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.