Macquarie Group Ltd. Decreases Stock Position in EQT Co. (NYSE:EQT)

Macquarie Group Ltd. lowered its stake in EQT Co. (NYSE:EQT) by 84.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,547 shares of the oil and gas producer’s stock after selling 378,958 shares during the period. Macquarie Group Ltd.’s holdings in EQT were worth $2,251,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EQT. NEIRG Wealth Management LLC lifted its position in EQT by 1.3% in the 1st quarter. NEIRG Wealth Management LLC now owns 26,537 shares of the oil and gas producer’s stock valued at $847,000 after acquiring an additional 333 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in EQT by 15.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,605 shares of the oil and gas producer’s stock valued at $89,000 after acquiring an additional 351 shares in the last quarter. Accel Wealth Management lifted its position in EQT by 19.6% in the 1st quarter. Accel Wealth Management now owns 2,157 shares of the oil and gas producer’s stock valued at $69,000 after acquiring an additional 354 shares in the last quarter. Annandale Capital LLC lifted its position in EQT by 5.7% in the 4th quarter. Annandale Capital LLC now owns 7,365 shares of the oil and gas producer’s stock valued at $249,000 after acquiring an additional 400 shares in the last quarter. Finally, Cim Investment Management Inc. lifted its position in EQT by 5.2% in the 1st quarter. Cim Investment Management Inc. now owns 8,262 shares of the oil and gas producer’s stock valued at $264,000 after acquiring an additional 407 shares in the last quarter. Hedge funds and other institutional investors own 99.44% of the company’s stock.

Insider Buying and Selling at EQT

In other EQT news, major shareholder S Wil Vanloh, Jr. sold 20,000,000 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $41.40, for a total transaction of $828,000,000.00. Following the completion of the transaction, the insider now owns 23,946,108 shares of the company’s stock, valued at approximately $991,368,871.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EQT shares. Jefferies Financial Group boosted their target price on shares of EQT from $46.00 to $49.00 in a research note on Friday, July 7th. Tudor, Pickering, Holt & Co. upgraded shares of EQT from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Mizuho decreased their target price on shares of EQT from $52.00 to $47.00 and set a “buy” rating for the company in a research note on Monday. UBS Group decreased their target price on shares of EQT from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 31st. Finally, Scotiabank lowered EQT from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, September 13th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.71.

EQT Trading Down 0.8 %

Shares of EQT stock opened at $41.19 on Tuesday. EQT Co. has a 52-week low of $28.10 and a 52-week high of $48.07. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $14.90 billion, a PE ratio of 4.63, a PEG ratio of 1.10 and a beta of 1.22. The stock has a fifty day simple moving average of $41.90 and a two-hundred day simple moving average of $37.23.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 25th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.09. EQT had a return on equity of 10.61% and a net margin of 38.44%. The business had revenue of $993.08 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted $0.83 EPS. EQT’s revenue for the quarter was down 38.4% compared to the same quarter last year. On average, analysts predict that EQT Co. will post 2.01 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 9th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Tuesday, August 8th. EQT’s dividend payout ratio (DPR) is presently 6.75%.

About EQT

EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2022, it had 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves across approximately 2.0 million gross acres, including 1.8 million gross acres in the Marcellus play.