Verus Capital Partners LLC Decreases Stock Holdings in EQT Co. (NYSE:EQT)

Verus Capital Partners LLC trimmed its holdings in EQT Co. (NYSE:EQT) by 9.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,896 shares of the oil and gas producer’s stock after selling 760 shares during the quarter. Verus Capital Partners LLC’s holdings in EQT were worth $318,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. HM Payson & Co. purchased a new position in EQT in the 3rd quarter worth approximately $25,000. Truvestments Capital LLC purchased a new stake in shares of EQT during the 3rd quarter valued at approximately $30,000. Quarry LP raised its position in shares of EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 578 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in shares of EQT during the 3rd quarter valued at approximately $36,000. Finally, Financial Avengers Inc. raised its position in shares of EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 504 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Stock Performance

NYSE:EQT opened at $48.25 on Friday. The company has a fifty day simple moving average of $50.16 and a two-hundred day simple moving average of $42.40. The company has a market cap of $28.82 billion, a price-to-earnings ratio of 120.62, a price-to-earnings-growth ratio of 0.64 and a beta of 1.08. 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 Co. has a 52 week low of $30.02 and a 52 week high of $56.66.

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 the consensus estimate of $0.50 by $0.19. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. As a group, equities analysts anticipate that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be paid a dividend of $0.1575 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.31%. EQT’s payout ratio is currently 157.50%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of EQT from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Scotiabank lowered 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. Mizuho raised shares of EQT from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $48.00 to $57.00 in a research report on Monday, December 16th. Jefferies Financial Group lifted their target price on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, StockNews.com upgraded shares of EQT to a “sell” rating in a report on Saturday, February 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $52.39.

Insider Buying and Selling

In related news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

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.