Easterly Investment Partners LLC Sells 2,352 Shares of EQT Co. (NYSE:EQT)

Easterly Investment Partners LLC reduced its position in shares of EQT Co. (NYSE:EQT) by 1.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 131,486 shares of the oil and gas producer’s stock after selling 2,352 shares during the quarter. Easterly Investment Partners LLC’s holdings in EQT were worth $6,063,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP increased its stake in EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after acquiring an additional 20,700,921 shares during the last quarter. Vanguard Group Inc. grew its position in EQT by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock valued at $3,344,371,000 after acquiring an additional 358,649 shares during the last quarter. State Street Corp increased its stake in EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares during the period. Geode Capital Management LLC lifted its position in shares of EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares during the last quarter. Finally, Boston Partners lifted its holdings in EQT by 7.2% during the 4th quarter. Boston Partners now owns 6,356,476 shares of the oil and gas producer’s stock valued at $293,213,000 after buying an additional 429,630 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup lifted their price objective on EQT from $51.00 to $60.00 and gave the company a “buy” rating in a report on Monday, March 17th. Stephens raised shares of EQT from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $41.00 to $59.00 in a report on Tuesday, March 18th. UBS Group increased their price target on EQT from $54.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective on the stock in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, EQT has a consensus rating of “Moderate Buy” and an average price target of $54.50.

EQT Stock Performance

Shares of EQT opened at $52.89 on Thursday. The company’s fifty day moving average is $51.41 and its two-hundred day moving average is $44.64. The stock has a market capitalization of $31.60 billion, a P/E ratio of 132.23, a P/E/G ratio of 0.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. EQT Co. has a 1 year low of $30.02 and a 1 year high of $56.66.

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

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Tuesday, February 18th. EQT’s dividend payout ratio (DPR) is 157.50%.

About EQT

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.