Legal & General Group Plc Sells 1,220,929 Shares of EQT Co. (NYSE:EQT)

Legal & General Group Plc trimmed its position in shares of EQT Co. (NYSE:EQT) by 40.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,781,156 shares of the oil and gas producer’s stock after selling 1,220,929 shares during the period. Legal & General Group Plc owned 0.30% of EQT worth $82,129,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EQT. EverSource Wealth Advisors LLC lifted its position in shares of EQT by 26.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after acquiring an additional 205 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in EQT by 22.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 193 shares during the period. Stonebridge Financial Group LLC purchased a new stake in EQT during the 4th quarter valued at approximately $55,000. First Horizon Advisors Inc. raised its position in shares of EQT by 33.1% during the fourth quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer’s stock valued at $55,000 after buying an additional 298 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of EQT by 1,343.8% in the fourth quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 1,290 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on EQT shares. Piper Sandler lifted their price target on shares of EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. The Goldman Sachs Group reaffirmed a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. Jefferies Financial Group increased their price target on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Mizuho lifted their price objective on EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $67.00 target price (up from $63.00) on shares of EQT in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and an average price target of $55.72.

EQT Stock Performance

Shares of EQT stock opened at $49.66 on Friday. EQT Co. has a 52 week low of $30.02 and a 52 week high of $56.66. The company has a market capitalization of $29.67 billion, a PE ratio of 124.16, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. The stock’s fifty day moving average is $50.93 and its two-hundred day moving average is $46.18. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37.

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

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Tuesday, February 18th. EQT’s dividend payout ratio is presently 157.50%.

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.