First Trust Direct Indexing L.P. Trims Stake in EQT Co. (NYSE:EQT)

First Trust Direct Indexing L.P. cut its stake in EQT Co. (NYSE:EQTFree Report) by 18.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,318 shares of the oil and gas producer’s stock after selling 1,406 shares during the period. First Trust Direct Indexing L.P.’s holdings in EQT were worth $234,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of EQT. Park Avenue Securities LLC lifted its stake in shares of EQT by 3.8% in the 1st quarter. Park Avenue Securities LLC now owns 8,153 shares of the oil and gas producer’s stock valued at $302,000 after purchasing an additional 300 shares during the period. Perigon Wealth Management LLC grew its position in shares of EQT by 2.1% in the 4th quarter. Perigon Wealth Management LLC now owns 14,471 shares of the oil and gas producer’s stock worth $559,000 after buying an additional 303 shares during the period. Czech National Bank increased its stake in shares of EQT by 0.5% in the 1st quarter. Czech National Bank now owns 72,374 shares of the oil and gas producer’s stock worth $2,683,000 after acquiring an additional 332 shares in the last quarter. Fulton Bank N.A. lifted its position in EQT by 4.7% during the 1st quarter. Fulton Bank N.A. now owns 10,370 shares of the oil and gas producer’s stock valued at $384,000 after acquiring an additional 465 shares during the period. Finally, Connectus Wealth LLC boosted its stake in EQT by 2.3% during the fourth quarter. Connectus Wealth LLC now owns 23,188 shares of the oil and gas producer’s stock worth $896,000 after acquiring an additional 514 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein raised shares of EQT from an “underperform” rating to a “market perform” rating and raised their target price for the company from $27.00 to $34.00 in a research note on Wednesday, April 10th. BMO Capital Markets boosted their target price on EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. Jefferies Financial Group raised their price target on EQT from $43.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Wednesday, May 29th. Finally, Piper Sandler restated an “overweight” rating and set a $46.00 price objective (up from $41.00) on shares of EQT in a research note on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, EQT currently has a consensus rating of “Hold” and a consensus target price of $45.24.

Read Our Latest Analysis on EQT

Insider Activity

In related news, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction 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 transaction, the executive vice president now directly owns 456,837 shares in the company, valued at $18,602,402.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other EQT news, EVP William E. Jordan sold 35,000 shares of the company’s 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 sale, the executive vice president now owns 456,837 shares in the company, valued at $18,602,402.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total value of $1,935,840.36. Following the transaction, the insider now directly owns 160,884 shares in the company, valued at $6,642,900.36. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

EQT Stock Up 0.2 %

EQT stock opened at $36.38 on Tuesday. EQT Co. has a one year low of $32.07 and a one year high of $45.23. The stock has a fifty day moving average of $39.53 and a 200 day moving average of $37.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $16.07 billion, a PE ratio of 26.36 and a beta of 1.12.

EQT (NYSE:EQTGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.70 EPS. As a group, sell-side analysts predict that EQT Co. will post 1.06 EPS for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th were paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Tuesday, May 7th. EQT’s dividend payout ratio is presently 45.65%.

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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