EQT Co. (NYSE:EQT) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in EQT Co. (NYSE:EQT) by 35.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 164,509 shares of the oil and gas producer’s stock after selling 90,186 shares during the quarter. Mutual of America Capital Management LLC’s holdings in EQT were worth $6,084,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of EQT. Price T Rowe Associates Inc. MD raised its stake in EQT by 22.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after buying an additional 11,993,729 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of EQT by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after acquiring an additional 3,942,802 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of EQT by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock valued at $752,487,000 after acquiring an additional 464,781 shares in the last quarter. Wellington Management Group LLP lifted its stake in EQT by 3.2% during the fourth quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock worth $785,580,000 after purchasing an additional 632,625 shares during the last quarter. Finally, Capital World Investors boosted its holdings in EQT by 1.5% in the fourth quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock worth $673,678,000 after purchasing an additional 265,297 shares during the period. Institutional investors own 90.81% of the company’s stock.

EQT Stock Performance

EQT stock opened at $34.83 on Friday. The company has a market capitalization of $15.38 billion, a P/E ratio of 25.24 and a beta of 1.06. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. The company has a 50-day simple moving average of $33.28 and a 200 day simple moving average of $36.45. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $45.23.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The company had revenue of $952.51 million during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business posted ($0.17) EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. Sell-side analysts predict that EQT Co. will post 1.44 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Wednesday, August 7th. EQT’s dividend payout ratio (DPR) is presently 45.65%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wells Fargo & Company raised shares of EQT from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $42.00 in a report on Wednesday, August 14th. Scotiabank increased their price objective on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 12th. Wolfe Research initiated coverage on EQT in a research note on Thursday, July 18th. They issued an “outperform” rating and a $51.00 target price for the company. Citigroup reiterated a “neutral” rating and set a $37.00 price target on shares of EQT in a research report on Friday, August 23rd. Finally, Jefferies Financial Group boosted their price objective on EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $43.28.

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.