Envestnet Portfolio Solutions Inc. Decreases Stock Holdings in EQT Corporation (NYSE:EQT)

Envestnet Portfolio Solutions Inc. trimmed its stake in shares of EQT Corporation (NYSE:EQT) by 22.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,636 shares of the oil and gas producer’s stock after selling 3,117 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in EQT were worth $568,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. D.A. Davidson & CO. raised its holdings in shares of EQT by 13.4% during the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock valued at $298,000 after purchasing an additional 762 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of EQT during the fourth quarter valued at approximately $244,000. National Pension Service raised its holdings in shares of EQT by 15.0% during the fourth quarter. National Pension Service now owns 870,013 shares of the oil and gas producer’s stock valued at $40,116,000 after purchasing an additional 113,600 shares during the last quarter. Aviva PLC purchased a new stake in EQT during the fourth quarter valued at approximately $14,719,000. Finally, Proficio Capital Partners LLC purchased a new stake in EQT during the fourth quarter valued at approximately $5,119,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Stock Down 0.1%

EQT stock opened at $58.16 on Friday. The company’s 50 day moving average price is $54.82 and its 200 day moving average price is $51.50. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57. EQT Corporation has a fifty-two week low of $30.02 and a fifty-two week high of $61.02. The firm has a market capitalization of $34.82 billion, a price-to-earnings ratio of 102.03, a PEG ratio of 0.36 and a beta of 0.65.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. EQT had a return on equity of 5.52% and a net margin of 6.59%. On average, equities research analysts anticipate that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th were issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Wednesday, May 7th. EQT’s payout ratio is currently 110.53%.

Analyst Ratings Changes

A number of brokerages have commented on EQT. Stephens reduced their target price on shares of EQT from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Roth Capital began coverage on shares of EQT in a report on Tuesday. They set a “buy” rating and a $69.00 target price for the company. TD Cowen raised shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a report on Tuesday, April 8th. Piper Sandler upped their target price on shares of EQT from $35.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Finally, Morgan Stanley upped their target price on shares of EQT from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

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.