Resonant Capital Advisors LLC Trims Stock Position in EQT Corporation (NYSE:EQT)

Resonant Capital Advisors LLC decreased its holdings in EQT Corporation (NYSE:EQT) by 2.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 29,362 shares of the oil and gas producer’s stock after selling 606 shares during the period. Resonant Capital Advisors LLC’s holdings in EQT were worth $1,569,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EQT. Vanguard Group Inc. boosted its position in shares of EQT by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock worth $3,344,371,000 after acquiring an additional 358,649 shares during the last quarter. Geode Capital Management LLC raised its stake in EQT by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock worth $663,552,000 after purchasing an additional 429,733 shares during the period. Capital International Investors boosted its holdings in shares of EQT by 21.3% in the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock valued at $638,867,000 after purchasing an additional 2,433,632 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of EQT by 14.7% in the 4th quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer’s stock valued at $637,698,000 after purchasing an additional 1,774,696 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of EQT by 46.3% during the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock valued at $606,059,000 after buying an additional 4,162,065 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

EQT has been the topic of a number of research analyst reports. Roth Capital began coverage on EQT in a report on Tuesday, June 24th. They issued a “buy” rating and a $69.00 target price on the stock. Piper Sandler raised their price objective on EQT from $35.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Mizuho boosted their target price on EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Stephens dropped their target price on shares of EQT from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Finally, Wall Street Zen cut shares of EQT from a “hold” rating to a “sell” rating in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

EQT Stock Performance

NYSE:EQT opened at $56.03 on Thursday. The firm has a 50-day moving average of $55.48 and a two-hundred day moving average of $51.84. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market cap of $33.54 billion, a P/E ratio of 98.30, a PEG ratio of 0.34 and a beta of 0.65. EQT Corporation has a 1-year low of $30.02 and a 1-year high of $61.02.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. EQT had a return on equity of 5.52% and a net margin of 6.59%. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. On average, research analysts expect that EQT Corporation 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, June 2nd. Stockholders of record on Wednesday, May 7th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Wednesday, May 7th. EQT’s payout ratio is currently 110.53%.

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.