Wellington Management Group LLP Decreases Holdings in EQT Co. (NYSE:EQT)

Wellington Management Group LLP lowered its position in EQT Co. (NYSE:EQT) by 28.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,342,143 shares of the oil and gas producer’s stock after selling 20,810,907 shares during the period. Wellington Management Group LLP owned about 8.93% of EQT worth $2,459,606,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its holdings in EQT by 71.4% during the third quarter. Thrivent Financial for Lutherans now owns 30,540 shares of the oil and gas producer’s stock valued at $1,119,000 after buying an additional 12,723 shares during the last quarter. Cerity Partners LLC grew its holdings in EQT by 51.4% during the third quarter. Cerity Partners LLC now owns 36,754 shares of the oil and gas producer’s stock valued at $1,347,000 after purchasing an additional 12,480 shares during the period. D.A. Davidson & CO. bought a new position in shares of EQT in the third quarter worth about $209,000. FMR LLC lifted its position in shares of EQT by 2.5% during the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after buying an additional 28,129 shares in the last quarter. Finally, Townsquare Capital LLC lifted its position in shares of EQT by 69.5% during the 3rd quarter. Townsquare Capital LLC now owns 13,640 shares of the oil and gas producer’s stock valued at $500,000 after buying an additional 5,593 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

EQT has been the topic of several analyst reports. The Goldman Sachs Group reaffirmed a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. UBS Group upped their target price on shares of EQT from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Piper Sandler raised their price target on EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Citigroup increased their target price on EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Finally, StockNews.com upgraded EQT from a “sell” rating to a “hold” rating in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, EQT presently has an average rating of “Moderate Buy” and an average target price of $55.11.

EQT Trading Up 1.4 %

Shares of NYSE EQT opened at $53.07 on Monday. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66. The firm has a market cap of $31.71 billion, a PE ratio of 132.68, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The business has a fifty day simple moving average of $51.38 and a two-hundred day simple moving average of $45.02. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT) last issued its 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. EQT had a net margin of 4.37% and a return on equity of 4.35%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Analysts expect that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

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

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.