Deltec Asset Management LLC Decreases Position in EQT Co. (NYSE:EQT)

Deltec Asset Management LLC lowered its position in shares of EQT Co. (NYSE:EQTFree Report) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,975 shares of the oil and gas producer’s stock after selling 9,095 shares during the quarter. EQT makes up about 1.9% of Deltec Asset Management LLC’s holdings, making the stock its 13th largest holding. Deltec Asset Management LLC owned 0.06% of EQT worth $9,674,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Wealth Management Group LLC purchased a new position in EQT during the fourth quarter worth approximately $30,000. BKM Wealth Management LLC acquired a new stake in EQT during the fourth quarter worth about $40,000. Principal Securities Inc. purchased a new position in EQT during the fourth quarter worth about $51,000. Massmutual Trust Co. FSB ADV grew its stake in shares of EQT by 52.6% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer’s stock valued at $60,000 after buying an additional 539 shares during the period. Finally, CX Institutional purchased a new stake in shares of EQT during the 4th quarter valued at approximately $64,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Down 0.8 %

NYSE:EQT traded down $0.30 during trading hours on Friday, hitting $36.98. The company’s stock had a trading volume of 9,817,030 shares, compared to its average volume of 6,714,432. The stock has a market capitalization of $16.33 billion, a P/E ratio of 26.80 and a beta of 1.06. 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 stock has a fifty day moving average of $39.87 and a 200-day moving average of $37.64. EQT Co. has a 52-week low of $32.07 and a 52-week high of $45.23.

EQT (NYSE:EQTGet Free Report) last posted its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. The firm 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 firm’s revenue was down 28.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.70 earnings per share. On average, equities analysts forecast that EQT Co. will post 1.05 earnings per share for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 8th were paid a dividend of $0.1575 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.70%. EQT’s dividend payout ratio is currently 45.65%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Morgan Stanley raised their target price on EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. TD Cowen started coverage on shares of EQT in a research report on Friday, April 19th. They set a “hold” rating and a $43.00 price target for the company. Sanford C. Bernstein raised shares of EQT from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $27.00 to $34.00 in a research report on Wednesday, April 10th. Scotiabank upped their price target on EQT from $52.00 to $54.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 9th. Finally, BMO Capital Markets lifted their price objective on EQT from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, EQT currently has an average rating of “Hold” and a consensus price target of $45.24.

Check Out Our Latest Analysis on EQT

Insider Activity at EQT

In other EQT news, insider Lesley Evancho sold 46,884 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the transaction, the insider now owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP William E. Jordan sold 35,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were 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 directly owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lesley Evancho sold 46,884 shares of the business’s 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 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. 0.63% of the stock is owned by corporate insiders.

About EQT

(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.

See Also

Institutional Ownership by Quarter for EQT (NYSE:EQT)

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