Nippon Life Global Investors Americas Inc. Trims Holdings in EQT Co. (NYSE:EQT)

Nippon Life Global Investors Americas Inc. lessened its holdings in shares of EQT Co. (NYSE:EQT - Free Report) by 26.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,550 shares of the oil and gas producer's stock after selling 24,960 shares during the period. Nippon Life Global Investors Americas Inc.'s holdings in EQT were worth $3,253,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EQT. EverSource Wealth Advisors LLC grew its holdings 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 worth $45,000 after acquiring an additional 205 shares during the period. Parkside Financial Bank & Trust grew its holdings 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 worth $48,000 after acquiring an additional 193 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of EQT during the 4th quarter worth approximately $55,000. First Horizon Advisors Inc. grew its holdings 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 worth $55,000 after acquiring an additional 298 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of 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 worth $64,000 after buying an additional 1,290 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EQT. Piper Sandler cut their price target on EQT from $36.00 to $35.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company upped their price target on EQT from $53.00 to $58.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 19th. Morgan Stanley upped their price target on EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday. Truist Financial upped their price target on EQT from $41.00 to $56.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. Finally, Stephens cut their price target on EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.39.

EQT Stock Performance

Shares of NYSE EQT traded up $1.44 during midday trading on Friday, hitting $50.26. 9,360,326 shares of the company's stock traded hands, compared to its average volume of 7,802,103. EQT Co. has a 1 year low of $30.02 and a 1 year high of $56.66. The stock has a market capitalization of $30.09 billion, a price-to-earnings ratio of 125.65, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The firm has a fifty day moving average of $50.31 and a 200 day moving average of $47.16.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 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 firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. On average, analysts forecast that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

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