EQT Co. (NYSE:EQT) Shares Purchased by American International Group Inc.

American International Group Inc. grew its stake in shares of EQT Co. (NYSE:EQT) by 9.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,443 shares of the oil and gas producer’s stock after acquiring an additional 9,157 shares during the quarter. American International Group Inc.’s holdings in EQT were worth $4,154,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Private Wealth Management Group LLC acquired a new position in shares of EQT during the fourth quarter valued at about $30,000. BKM Wealth Management LLC acquired a new position in EQT in the 4th quarter worth approximately $40,000. Principal Securities Inc. acquired a new position in EQT in the 4th quarter worth approximately $51,000. Massmutual Trust Co. FSB ADV increased its holdings in EQT by 52.6% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer’s stock worth $60,000 after buying an additional 539 shares during the period. Finally, CX Institutional acquired a new position in EQT in the 4th quarter worth approximately $64,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Down 2.1 %

NYSE EQT opened at $36.97 on Monday. EQT Co. has a 52 week low of $32.07 and a 52 week high of $45.23. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $39.72 and its 200-day simple moving average is $37.61. The firm has a market cap of $16.33 billion, a PE ratio of 26.79 and a beta of 1.06.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm earned $1.70 EPS. The company’s quarterly revenue was down 28.8% compared to the same quarter last year. As a group, equities analysts anticipate that EQT Co. will post 1.03 earnings per share for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th were issued a dividend of $0.1575 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.70%. EQT’s dividend payout ratio is presently 45.65%.

Analyst Ratings Changes

Several equities analysts recently weighed in on EQT shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $37.00 price target (down previously from $39.00) on shares of EQT in a report on Wednesday, March 20th. Piper Sandler reaffirmed an “overweight” rating and set a $46.00 price objective (up previously from $41.00) on shares of EQT in a research note on Tuesday, April 30th. Morgan Stanley raised their price objective on shares of EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Wells Fargo & Company cut shares of EQT from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $48.00 to $37.00 in a research note on Wednesday, April 17th. Finally, Truist Financial dropped their price objective on shares of EQT from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $45.24.

Insider Transactions at EQT

In related news, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the completion of the sale, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Lesley Evancho sold 46,884 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the completion of the sale, the insider now directly owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the sale, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

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.