NewEdge Advisors LLC Trims Stake in EQT Co. (NYSE:EQT)

NewEdge Advisors LLC cut its stake in EQT Co. (NYSE:EQT) by 29.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,375 shares of the oil and gas producer’s stock after selling 18,866 shares during the quarter. NewEdge Advisors LLC’s holdings in EQT were worth $1,678,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of EQT. Innealta Capital LLC acquired a new position in shares of EQT in the 2nd quarter valued at $28,000. Blue Trust Inc. raised its position in shares of EQT by 149.5% in the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 598 shares during the period. Wolff Wiese Magana LLC raised its position in shares of 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 acquiring an additional 908 shares during the period. Industrial Alliance Investment Management Inc. boosted its stake in shares of 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 worth $53,000 after acquiring an additional 570 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of EQT during the 1st quarter valued at about $54,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Down 1.9 %

NYSE EQT opened at $36.94 on Friday. The business’s fifty day simple moving average is $33.46 and its 200-day simple moving average is $36.53. 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 firm has a market cap of $16.31 billion, a PE ratio of 26.77 and a beta of 1.06. EQT Co. has a 52 week low of $30.02 and a 52 week high of $45.23.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS 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 for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm earned ($0.17) earnings per share. EQT’s quarterly revenue was down 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that EQT Co. will post 1.37 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.63 annualized dividend and a yield of 1.71%. EQT’s payout ratio is 45.65%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EQT. StockNews.com raised EQT to a “sell” rating in a report on Friday, July 26th. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $40.00 to $42.00 in a research report on Wednesday, August 14th. BMO Capital Markets boosted their price target on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday. Wolfe Research began coverage on shares of EQT in a report on Thursday, July 18th. They set an “outperform” rating and a $51.00 price objective on the stock. Finally, Scotiabank lifted their target price on shares of EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.18.

EQT Company 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.