abrdn plc Has $1.37 Million Stake in EQT Co. (NYSE:EQT)

abrdn plc reduced its position in shares of EQT Co. (NYSE:EQT) by 23.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,366 shares of the oil and gas producer’s stock after selling 10,723 shares during the quarter. abrdn plc’s holdings in EQT were worth $1,367,000 at the end of the most recent quarter.

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

EQT Trading Up 1.1 %

EQT stock opened at $41.05 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The firm has a market cap of $18.13 billion, a P/E ratio of 29.75 and a beta of 1.12. EQT Co. has a 1-year low of $30.84 and a 1-year high of $45.23. The business’s 50 day moving average is $36.55 and its 200-day moving average is $37.89.

EQT (NYSE:EQT) 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, topping the consensus estimate of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the company posted $1.70 earnings per share. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year. Equities analysts anticipate that EQT Co. will post 1.01 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.1575 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.53%. EQT’s dividend payout ratio is 45.65%.

Wall Street Analyst Weigh In

Several brokerages recently commented on EQT. Sanford C. Bernstein upgraded shares of EQT from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $27.00 to $34.00 in a report on Wednesday, April 10th. Morgan Stanley increased their target price on EQT from $37.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $37.00 price target (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Piper Sandler lowered their price objective on shares of EQT from $47.00 to $41.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Finally, StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, EQT currently has an average rating of “Hold” and a consensus target price of $44.25.

EQT Company Profile

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.