Baird Financial Group Inc. Sells 40,903 Shares of EQT Co. (NYSE:EQT)

Baird Financial Group Inc. cut its holdings in shares of EQT Co. (NYSE:EQT - Free Report) by 69.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,416 shares of the oil and gas producer's stock after selling 40,903 shares during the period. Baird Financial Group Inc.'s holdings in EQT were worth $849,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its stake in EQT by 26.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock valued at $45,000 after buying an additional 205 shares during the period. Parkside Financial Bank & Trust increased its stake in EQT by 22.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer's stock valued at $48,000 after buying an additional 193 shares during the period. Stonebridge Financial Group LLC acquired a new position in EQT in the 4th quarter valued at approximately $55,000. First Horizon Advisors Inc. increased its stake in EQT by 33.1% in the 4th quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer's stock valued at $55,000 after buying an additional 298 shares during the period. Finally, Larson Financial Group LLC increased its stake in EQT by 1,343.8% in the 4th quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer's stock valued at $64,000 after buying an additional 1,290 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Performance

Shares of NYSE EQT traded down $0.17 during trading hours on Friday, hitting $55.83. 4,374,261 shares of the stock were exchanged, compared to its average volume of 7,950,662. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The company's 50 day moving average is $51.59 and its 200 day moving average is $48.81. The firm has a market capitalization of $33.42 billion, a P/E ratio of 139.58, a P/E/G ratio of 0.64 and a beta of 0.59. EQT Co. has a one year low of $30.02 and a one year high of $57.04.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.20. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. On average, research analysts expect that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT's dividend payout ratio (DPR) is presently 110.53%.

Analysts Set New Price Targets

EQT has been the topic of several research reports. UBS Group upgraded shares of EQT from a "neutral" rating to a "buy" rating and upped their price objective for the company from $54.00 to $64.00 in a research note on Monday, May 5th. StockNews.com lowered shares of EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Stephens dropped their price objective on shares of EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley increased their price target on shares of EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, Piper Sandler increased their price target on shares of EQT from $35.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.67.

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.