ELCO Management Co. LLC Sells 4,600 Shares of EQT Corporation (NYSE:EQT)

ELCO Management Co. LLC lessened its position in shares of EQT Corporation (NYSE:EQT - Free Report) by 11.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,013 shares of the oil and gas producer's stock after selling 4,600 shares during the quarter. EQT makes up about 1.1% of ELCO Management Co. LLC's investment portfolio, making the stock its 22nd largest position. ELCO Management Co. LLC's holdings in EQT were worth $1,924,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in EQT by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer's stock valued at $3,344,371,000 after purchasing an additional 358,649 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of EQT by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer's stock worth $663,552,000 after purchasing an additional 429,733 shares in the last quarter. Capital International Investors increased its holdings in shares of EQT by 21.3% in the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock worth $638,867,000 after acquiring an additional 2,433,632 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of EQT by 14.7% in the fourth quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer's stock worth $637,698,000 after acquiring an additional 1,774,696 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of EQT by 46.3% in the fourth quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer's stock worth $606,059,000 after acquiring an additional 4,162,065 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EQT shares. Citigroup increased their price objective on EQT from $51.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, March 17th. Wells Fargo & Company raised their price objective on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Royal Bank Of Canada raised their price objective on EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 8th. TD Cowen raised shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 target price for the company in a report on Tuesday, April 8th. Finally, Stephens reduced their target price on shares of EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $60.15.

EQT Trading Down 1.2%

Shares of EQT stock traded down $0.68 on Tuesday, hitting $57.60. The company had a trading volume of 5,481,628 shares, compared to its average volume of 8,059,150. The firm has a market cap of $34.49 billion, a P/E ratio of 101.06, a P/E/G ratio of 0.35 and a beta of 0.65. The stock's 50-day moving average is $56.24 and its two-hundred day moving average is $52.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57. EQT Corporation has a twelve month low of $30.02 and a twelve month high of $61.02.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.20. EQT had a return on equity of 5.52% and a net margin of 6.59%. The company had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.16 billion. On average, equities research analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Wednesday, May 7th. EQT's dividend payout ratio is presently 110.53%.

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.