CIBC Private Wealth Group LLC Grows Stock Position in EQT Co. (NYSE:EQT)

CIBC Private Wealth Group LLC boosted its stake in EQT Co. (NYSE:EQTFree Report) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 261,970 shares of the oil and gas producer’s stock after acquiring an additional 1,600 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.06% of EQT worth $10,128,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EQT. Rafferty Asset Management LLC raised its position in shares of EQT by 10.4% in the 4th quarter. Rafferty Asset Management LLC now owns 297,346 shares of the oil and gas producer’s stock valued at $11,495,000 after purchasing an additional 27,988 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of EQT by 6.7% during the 4th quarter. CIBC Asset Management Inc now owns 54,308 shares of the oil and gas producer’s stock valued at $2,100,000 after acquiring an additional 3,403 shares in the last quarter. NEOS Investment Management LLC acquired a new stake in shares of EQT during the 4th quarter valued at approximately $214,000. The Manufacturers Life Insurance Company raised its position in shares of EQT by 90.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,009,121 shares of the oil and gas producer’s stock valued at $39,013,000 after acquiring an additional 478,544 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of EQT by 3.6% during the 4th quarter. California State Teachers Retirement System now owns 538,463 shares of the oil and gas producer’s stock valued at $20,817,000 after acquiring an additional 18,804 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on EQT. JPMorgan Chase & Co. restated a “neutral” rating and set a $37.00 price objective (down from $39.00) on shares of EQT in a research note on Wednesday, March 20th. BMO Capital Markets upped their price objective on EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. The Goldman Sachs Group lowered their price objective on EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Piper Sandler reissued an “overweight” rating and issued a $46.00 price target (up previously from $41.00) on shares of EQT in a research note on Tuesday, April 30th. Finally, Mizuho increased their price target on EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.24.

View Our Latest Analysis on EQT

EQT Stock Down 0.7 %

Shares of EQT stock opened at $40.66 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $17.96 billion, a P/E ratio of 29.46 and a beta of 1.06. The business has a 50-day moving average of $39.23 and a two-hundred day moving average of $37.66. EQT Co. has a 1 year low of $32.07 and a 1 year high of $45.23.

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

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 8th were issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Tuesday, May 7th. EQT’s dividend payout ratio (DPR) is 45.65%.

Insiders Place Their Bets

In other news, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the completion of the transaction, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other EQT news, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the completion of the sale, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lesley Evancho sold 46,884 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the completion of the transaction, the insider now owns 160,884 shares in the company, valued at approximately $6,642,900.36. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

EQT Company 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.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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