HITE Hedge Asset Management LLC Sells 471,081 Shares of EQT Co. (NYSE:EQT)

HITE Hedge Asset Management LLC decreased its holdings in EQT Co. (NYSE:EQT) by 76.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,592 shares of the oil and gas producer’s stock after selling 471,081 shares during the period. HITE Hedge Asset Management LLC’s holdings in EQT were worth $5,347,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in EQT. Innealta Capital LLC purchased a new position in shares of EQT in the 2nd quarter worth approximately $28,000. Wolff Wiese Magana LLC lifted its position in EQT by 936.1% in the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 908 shares during the last quarter. Blue Trust Inc. boosted its stake in EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 598 shares during the period. EverSource Wealth Advisors LLC increased its position in EQT by 414.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,472 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 1,186 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. raised its stake in shares of EQT by 65.5% in the second 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. 90.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on EQT. StockNews.com raised shares of EQT to a “sell” rating in a research note on Friday, July 26th. Wolfe Research initiated coverage on EQT in a report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price target on the stock. Citigroup restated a “neutral” rating and set a $37.00 price objective on shares of EQT in a report on Friday, August 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $45.00 target price on shares of EQT in a research note on Friday, September 13th. Finally, Jefferies Financial Group boosted their target price on shares of EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, EQT has a consensus rating of “Hold” and an average target price of $43.28.

EQT Stock Performance

Shares of EQT stock opened at $35.65 on Wednesday. The business has a fifty day moving average of $33.26 and a 200 day moving average of $36.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $15.74 billion, a price-to-earnings ratio of 25.83 and a beta of 1.06. EQT Co. has a 1 year low of $30.02 and a 1 year high of $45.23.

EQT (NYSE:EQT) last released its quarterly earnings data 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. The firm had revenue of $952.51 million for 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 business’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) earnings per share. As a group, research analysts expect that EQT Co. will post 1.37 earnings per share for the current year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Wednesday, August 7th. EQT’s dividend payout ratio is currently 45.65%.

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.