Capital World Investors Sells 1,664,706 Shares of EQT Co. (NYSE:EQT)

Capital World Investors reduced its stake in EQT Co. (NYSE:EQT - Free Report) by 28.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,150,510 shares of the oil and gas producer's stock after selling 1,664,706 shares during the quarter. Capital World Investors owned approximately 0.70% of EQT worth $191,380,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of EQT by 26.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock worth $45,000 after buying an additional 205 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in EQT by 22.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer's stock worth $48,000 after acquiring an additional 193 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in EQT during the 4th quarter worth $55,000. First Horizon Advisors Inc. grew its position in shares of EQT by 33.1% in the fourth quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer's stock valued at $55,000 after purchasing an additional 298 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of EQT by 1,343.8% in the fourth quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer's stock worth $64,000 after purchasing an additional 1,290 shares during the period. Institutional investors own 90.81% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Sanford C. Bernstein upgraded EQT from a "market perform" rating to an "outperform" rating and set a $73.00 target price for the company in a research note on Wednesday, January 15th. Morgan Stanley raised their price objective on shares of EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday. Stephens cut their target price on shares of EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. increased their price target on shares of EQT from $58.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Finally, Piper Sandler cut their price objective on shares of EQT from $36.00 to $35.00 and set a "neutral" rating for the company in a research report on Tuesday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $55.39.

EQT Price Performance

Shares of NYSE EQT traded up $1.44 during midday trading on Friday, reaching $50.26. 9,360,326 shares of the company traded hands, compared to its average volume of 7,799,134. The stock's 50-day simple moving average is $50.31 and its 200-day simple moving average is $47.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. EQT Co. has a 12 month low of $30.02 and a 12 month high of $56.66. The firm has a market cap of $30.03 billion, a PE ratio of 125.65, a PEG ratio of 0.64 and a beta of 1.35.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.20. The firm had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. As a group, equities analysts anticipate that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT's dividend payout ratio is currently 157.50%.

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.