Sciencast Management LP Sells 17,536 Shares of EQT Co. (NYSE:EQT)

Sciencast Management LP cut its holdings in shares of EQT Co. (NYSE:EQT) by 23.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,287 shares of the oil and gas producer’s stock after selling 17,536 shares during the quarter. Sciencast Management LP’s holdings in EQT were worth $2,688,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in EQT. Wellington Management Group LLP increased its holdings in shares of EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after purchasing an additional 20,700,921 shares during the period. State Street Corp increased its stake in EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after acquiring an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC increased its stake in EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after acquiring an additional 3,582,418 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in EQT by 386.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock valued at $205,830,000 after acquiring an additional 3,454,741 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in EQT in the third quarter valued at approximately $97,979,000. 90.81% of the stock is owned by institutional investors.

EQT Trading Down 1.6 %

NYSE:EQT opened at $52.89 on Friday. EQT Co. has a one year low of $30.02 and a one year high of $56.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The company’s 50-day simple moving average is $51.25 and its 200 day simple moving average is $44.12. The firm has a market capitalization of $31.60 billion, a P/E ratio of 132.23, a PEG ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.19. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. As a group, analysts forecast that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a $0.1575 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.19%. EQT’s dividend payout ratio is presently 157.50%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EQT shares. Stephens raised shares of EQT from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $41.00 to $59.00 in a research note on Tuesday. Jefferies Financial Group lifted their price objective on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Mizuho raised shares of EQT from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a research note on Wednesday, January 15th. Finally, StockNews.com raised shares of EQT from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and an average target price of $54.50.

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.