First Horizon Advisors Inc. Grows Stock Holdings in EQT Co. (NYSE:EQT)

First Horizon Advisors Inc. raised its position in EQT Co. (NYSE:EQT) by 33.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,199 shares of the oil and gas producer’s stock after acquiring an additional 298 shares during the quarter. First Horizon Advisors Inc.’s holdings in EQT were worth $55,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after acquiring an additional 20,700,921 shares during the period. State Street Corp increased its position in shares of 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 period. Geode Capital Management LLC increased its position in shares of EQT by 34.4% during 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 buying an additional 3,582,418 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of EQT by 28.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock valued at $183,678,000 after buying an additional 1,108,134 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of EQT by 386.9% during 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 buying an additional 3,454,741 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Down 4.8 %

EQT stock opened at $46.47 on Friday. EQT Co. has a 1-year low of $30.02 and a 1-year high of $56.66. The business has a fifty day moving average price of $50.06 and a 200-day moving average price of $42.21. 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 stock has a market capitalization of $27.76 billion, a P/E ratio of 116.17, a P/E/G ratio of 0.64 and a beta of 1.08.

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

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Tuesday, February 18th. EQT’s dividend payout ratio is currently 157.50%.

Insider Transactions at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares of the company’s stock, valued at $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on EQT shares. StockNews.com upgraded shares of EQT to a “sell” rating in a research report on Saturday, February 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $49.00 price target on shares of EQT in a research report on Monday, January 6th. UBS Group boosted their price target on shares of EQT from $54.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday. Scotiabank cut shares of EQT from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $55.00 to $54.00 in a research report on Friday, January 17th. Finally, Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $48.00 to $57.00 in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, EQT currently has an average rating of “Hold” and a consensus target price of $52.39.

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.