Truist Financial Corp Grows Stock Position in EQT Co. (NYSE:EQT)

Truist Financial Corp raised its position in EQT Co. (NYSE:EQTFree Report) by 19.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,917 shares of the oil and gas producer’s stock after acquiring an additional 2,919 shares during the period. Truist Financial Corp’s holdings in EQT were worth $693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new stake in EQT in the 4th quarter valued at about $40,000. Allworth Financial LP lifted its stake in shares of EQT by 26.9% during the 3rd quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock valued at $54,000 after buying an additional 282 shares in the last quarter. First Command Advisory Services Inc. bought a new position in EQT in the 3rd quarter worth approximately $54,000. Massmutual Trust Co. FSB ADV grew its stake in EQT by 52.6% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer’s stock valued at $60,000 after buying an additional 539 shares in the last quarter. Finally, CX Institutional bought a new stake in EQT during the 4th quarter valued at $64,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Performance

Shares of NYSE EQT opened at $40.93 on Thursday. The stock’s 50-day moving average is $37.24 and its 200 day moving average is $37.66. The stock has a market cap of $18.07 billion, a price-to-earnings ratio of 29.66 and a beta of 1.09. EQT Co. has a 1-year low of $32.07 and a 1-year high of $45.23. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32.

EQT (NYSE:EQTGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. The business’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period last year, the business earned $1.70 earnings per share. On average, sell-side analysts anticipate that EQT Co. will post 1.03 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 8th will be given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s payout ratio is presently 45.65%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EQT shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price target on shares of EQT in a research report on Tuesday, March 5th. Piper Sandler reiterated an “overweight” rating and set a $46.00 price target (up from $41.00) on shares of EQT in a research report on Tuesday, April 30th. The Goldman Sachs Group cut their price objective on shares of EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. Sanford C. Bernstein raised shares of EQT from an “underperform” rating to a “market perform” rating and raised their price target for the company from $27.00 to $34.00 in a report on Wednesday, April 10th. Finally, StockNews.com upgraded EQT to a “sell” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $44.94.

Check Out Our Latest Analysis on EQT

EQT Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding EQT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EQT Co. (NYSE:EQTFree Report).

Institutional Ownership by Quarter for EQT (NYSE:EQT)

Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.