Intech Investment Management LLC Sells 89,073 Shares of EQT Co. (NYSE:EQT)

Intech Investment Management LLC decreased its position in shares of EQT Co. (NYSE:EQT) by 87.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,697 shares of the oil and gas producer’s stock after selling 89,073 shares during the period. Intech Investment Management LLC’s holdings in EQT were worth $465,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. MTM Investment Management LLC grew its holdings in EQT by 32.3% in the 3rd quarter. MTM Investment Management LLC now owns 8,352 shares of the oil and gas producer’s stock valued at $309,000 after buying an additional 2,040 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of EQT by 64.2% in the third quarter. Advisors Asset Management Inc. now owns 73,322 shares of the oil and gas producer’s stock valued at $2,687,000 after acquiring an additional 28,670 shares during the period. SCP Investment LP grew its stake in shares of EQT by 30.9% in the third quarter. SCP Investment LP now owns 24,600 shares of the oil and gas producer’s stock worth $901,000 after acquiring an additional 5,800 shares during the last quarter. Commerce Bank grew its stake in shares of EQT by 4.9% in the third quarter. Commerce Bank now owns 42,331 shares of the oil and gas producer’s stock worth $1,551,000 after acquiring an additional 1,967 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in EQT during the third quarter worth $358,000. 90.81% of the stock is currently owned by institutional investors.

EQT Price Performance

Shares of EQT stock opened at $44.53 on Tuesday. The firm has a market cap of $26.57 billion, a PE ratio of 53.01 and a beta of 1.06. The company’s fifty day simple moving average is $39.53 and its two-hundred day simple moving average is $37.18. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a 12-month low of $30.02 and a 12-month high of $48.02.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 EPS. As a group, equities analysts expect that EQT Co. will post 1.36 EPS for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 6th were paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Wednesday, November 6th. EQT’s payout ratio is 75.00%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Mizuho boosted their price objective on shares of EQT from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Wells Fargo & Company boosted their price target on EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Morgan Stanley raised their price objective on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Bank of America assumed coverage on EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, BMO Capital Markets raised their target price on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, EQT presently has an average rating of “Moderate Buy” and a consensus target price of $44.67.

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.