Man Group plc Reduces Stake in EQT Co. (NYSE:EQT)

Man Group plc cut its stake in shares of EQT Co. (NYSE:EQT - Free Report) by 84.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,861 shares of the oil and gas producer's stock after selling 158,169 shares during the quarter. Man Group plc's holdings in EQT were worth $1,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in EQT by 44.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer's stock valued at $2,379,000 after acquiring an additional 16,416 shares during the period. D.A. Davidson & CO. lifted its holdings in EQT by 13.4% in the 4th quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer's stock worth $298,000 after buying an additional 762 shares during the period. Teacher Retirement System of Texas purchased a new stake in EQT in the 4th quarter worth approximately $244,000. Nkcfo LLC purchased a new stake in EQT in the 4th quarter worth approximately $738,000. Finally, Bradley Foster & Sargent Inc. CT lifted its holdings in EQT by 31.9% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 67,004 shares of the oil and gas producer's stock worth $3,090,000 after buying an additional 16,204 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EQT has been the subject of several research analyst reports. Stephens dropped their price objective on EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Morgan Stanley increased their price objective on EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. 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. Piper Sandler raised their target price on EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Finally, UBS Group upgraded EQT from a "neutral" rating to a "buy" rating and raised their target price for the company from $54.00 to $64.00 in a research note on Monday, May 5th. Two analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $57.11.

EQT Stock Up 1.7%

EQT stock traded up $0.93 on Tuesday, reaching $56.54. 5,221,348 shares of the company traded hands, compared to its average volume of 7,916,401. EQT Co. has a one year low of $30.02 and a one year high of $57.37. 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 has a market cap of $33.85 billion, a P/E ratio of 141.35, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. The firm has a fifty day simple moving average of $52.14 and a 200-day simple moving average of $49.61.

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 for the quarter, beating analysts' consensus estimates of $0.98 by $0.20. EQT had a return on equity of 4.35% and a net margin of 4.37%. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. Research analysts anticipate that EQT Co. will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The firm also recently announced 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 dividend yield of 1.11%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT's payout ratio is 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.