Corient Private Wealth LLC Lowers Holdings in EQT Co. (NYSE:EQT)

Corient Private Wealth LLC trimmed its holdings in EQT Co. (NYSE:EQT) by 21.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,258 shares of the oil and gas producer’s stock after selling 18,385 shares during the quarter. Corient Private Wealth LLC’s holdings in EQT were worth $3,194,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Ninepoint Partners LP purchased a new stake in EQT in the fourth quarter valued at $23,055,000. Natixis Advisors LLC raised its position in shares of EQT by 118.9% in the fourth quarter. Natixis Advisors LLC now owns 389,448 shares of the oil and gas producer’s stock worth $17,957,000 after acquiring an additional 211,544 shares during the period. Catalyst Funds Management Pty Ltd acquired a new position in shares of EQT in the fourth quarter worth about $784,000. Hilton Capital Management LLC acquired a new position in shares of EQT in the fourth quarter worth about $2,782,000. Finally, Commonwealth Equity Services LLC raised its position in shares of EQT by 2.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 118,804 shares of the oil and gas producer’s stock worth $5,478,000 after acquiring an additional 2,407 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Stock Performance

EQT stock opened at $52.89 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The stock has a market cap of $31.60 billion, a price-to-earnings ratio of 132.23, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The firm has a 50 day simple moving average of $51.25 and a 200-day simple moving average of $44.20. EQT Co. has a 1-year low of $30.02 and a 1-year high of $56.66.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.50 by $0.19. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. On average, analysts expect that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.19%. EQT’s dividend payout ratio (DPR) is presently 157.50%.

Wall Street Analyst Weigh In

EQT has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com upgraded shares of EQT from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Truist Financial upped their price target on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Jefferies Financial Group upped their price target on shares of EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Piper Sandler upped their price target on shares of EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.50.

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.