West Family Investments Inc. Trims Position in EQT Co. (NYSE:EQT)

West Family Investments Inc. reduced its holdings in EQT Co. (NYSE:EQT) by 23.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,619 shares of the oil and gas producer’s stock after selling 31,956 shares during the period. EQT comprises 1.3% of West Family Investments Inc.’s holdings, making the stock its 14th biggest position. West Family Investments Inc.’s holdings in EQT were worth $3,797,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. HM Payson & Co. purchased a new stake in EQT in the 3rd quarter worth approximately $25,000. Innealta Capital LLC purchased a new stake in EQT during the second quarter worth $28,000. Hexagon Capital Partners LLC grew its position in EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 904 shares during the period. Blue Trust Inc. increased its holdings in EQT by 149.5% in the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 598 shares in the last quarter. Finally, Wolff Wiese Magana LLC raised its position in shares of EQT by 936.1% in the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 908 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on EQT. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $37.00 to $44.00 in a research report on Thursday, October 3rd. Mizuho increased their target price on EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. UBS Group lifted their price target on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Piper Sandler boosted their target price on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.83.

EQT Stock Up 3.7 %

Shares of NYSE:EQT opened at $44.28 on Tuesday. EQT Co. has a 52-week low of $30.02 and a 52-week high of $44.62. The stock has a market cap of $26.42 billion, a P/E ratio of 52.71 and a beta of 1.06. The business has a fifty day moving average of $37.16 and a two-hundred day moving average of $36.81. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. EQT’s quarterly revenue was up 8.2% on a year-over-year basis. On average, research analysts expect that EQT Co. will post 1.28 earnings per share for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s payout ratio is presently 75.00%.

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.