Marietta Investment Partners LLC Lowers Stake in EQT Co. (NYSE:EQT)

Marietta Investment Partners LLC reduced its holdings in shares of EQT Co. (NYSE:EQT) by 53.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,268 shares of the oil and gas producer’s stock after selling 16,582 shares during the period. Marietta Investment Partners LLC’s holdings in EQT were worth $528,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in EQT during the 2nd quarter valued at about $28,000. Blue Trust Inc. lifted its position in EQT by 149.5% during the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 598 shares during the period. Wolff Wiese Magana LLC lifted its position in EQT by 936.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 908 shares during the period. Industrial Alliance Investment Management Inc. lifted its position in EQT by 65.5% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 1,440 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 570 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in EQT during the 1st quarter valued at about $54,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EQT. Wells Fargo & Company raised shares of EQT from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $42.00 in a report on Wednesday, August 14th. Mizuho decreased their target price on shares of EQT from $45.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Piper Sandler cut shares of EQT from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $43.00 to $32.00 in a report on Thursday, August 15th. Jefferies Financial Group lifted their target price on shares of EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Finally, UBS Group decreased their target price on shares of EQT from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, EQT presently has an average rating of “Hold” and an average target price of $43.28.

EQT Stock Performance

Shares of NYSE EQT opened at $34.83 on Monday. The firm has a 50 day moving average of $33.28 and a 200 day moving average of $36.43. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of 25.24 and a beta of 1.06. EQT Co. has a 12-month low of $30.02 and a 12-month high of $45.23.

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

EQT Announces Dividend

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

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.