Amundi Sells 509,457 Shares of EQT Co. (NYSE:EQT)

Amundi trimmed its position in EQT Co. (NYSE:EQT) by 16.0% during the fourth quarter, Holdings Channel reports. The firm owned 2,679,419 shares of the oil and gas producer’s stock after selling 509,457 shares during the quarter. Amundi’s holdings in EQT were worth $131,292,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of EQT. Wellington Management Group LLP raised its holdings in shares of EQT by 38.7% in the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after purchasing an additional 20,700,921 shares during the period. State Street Corp raised its holdings in shares of EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after purchasing an additional 7,290,822 shares during the period. Geode Capital Management LLC raised its holdings in shares of EQT by 34.4% in the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after purchasing an additional 3,582,418 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of EQT by 386.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock valued at $205,830,000 after purchasing an additional 3,454,741 shares during the period. Finally, Holocene Advisors LP acquired a new position in EQT in the 3rd quarter valued at about $97,979,000. 90.81% of the stock is owned by institutional investors.

EQT Stock Performance

NYSE EQT opened at $47.55 on Tuesday. 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 has a market capitalization of $28.41 billion, a price-to-earnings ratio of 118.88, a P/E/G ratio of 0.64 and a beta of 1.12. The firm’s 50 day simple moving average is $50.59 and its 200 day simple moving average is $43.13. EQT Co. has a 1 year low of $30.02 and a 1 year high of $56.66.

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

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a dividend of $0.1575 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.32%. EQT’s dividend payout ratio is 157.50%.

Analysts Set New Price Targets

A number of research analysts recently commented on EQT shares. StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Saturday, February 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $49.00 price target on shares of EQT in a research note on Monday, January 6th. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research note on Wednesday, January 15th. Jefferies Financial Group upped their price target on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Scotiabank lowered shares of EQT from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $55.00 to $54.00 in a research note on Friday, January 17th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $52.44.

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.