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

Man Group plc reduced its position in shares of EQT Co. (NYSE:EQT - Free Report) by 84.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 SEC filing.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on EQT shares. The Goldman Sachs Group reiterated a "reduce" rating on shares of EQT in a research report on Wednesday, February 12th. TD Cowen upgraded EQT from a "hold" rating to a "buy" rating and set a $54.00 price target on the stock in a report on Tuesday, April 8th. 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. Finally, JPMorgan Chase & Co. increased their price objective on EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, March 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $57.11.

EQT Trading Down 0.1%

Shares of EQT stock traded down $0.06 during trading on Thursday, hitting $55.44. The company's stock had a trading volume of 883,212 shares, compared to its average volume of 7,884,167. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT Co. has a 52 week low of $30.02 and a 52 week high of $57.37. The stock has a market cap of $33.19 billion, a price-to-earnings ratio of 138.35, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. The stock has a 50-day moving average price of $52.25 and a two-hundred day moving average price of $49.70.

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

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Wednesday, May 7th. EQT's payout ratio is 110.53%.

EQT 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.