Prudential Financial Inc. Has $14.52 Million Position in EQT Co. (NYSE:EQT)

Prudential Financial Inc. lessened its holdings in shares of EQT Co. (NYSE:EQT) by 10.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 314,869 shares of the oil and gas producer’s stock after selling 38,576 shares during the quarter. Prudential Financial Inc.’s holdings in EQT were worth $14,519,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in EQT. Wellington Management Group LLP lifted its holdings in shares of 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 buying an additional 20,700,921 shares during the last quarter. State Street Corp increased its position in EQT by 24.5% during 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 acquiring an additional 7,290,822 shares during the period. Geode Capital Management LLC raised its stake in EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after purchasing an additional 3,582,418 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in EQT by 386.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock valued at $205,830,000 after purchasing an additional 3,454,741 shares during the period. Finally, Holocene Advisors LP acquired a new stake in EQT in the 3rd quarter worth $97,979,000. Institutional investors own 90.81% of the company’s stock.

EQT Price Performance

Shares of EQT stock opened at $52.30 on Friday. EQT Co. has a 1-year low of $30.02 and a 1-year high of $56.66. The firm’s 50-day moving average price is $51.38 and its two-hundred day moving average price is $44.70. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $31.24 billion, a price-to-earnings ratio of 130.74, a P/E/G ratio of 0.64 and a beta of 1.12.

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

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a dividend of $0.1575 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 annualized dividend and a yield of 1.20%. EQT’s dividend payout ratio (DPR) is 157.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EQT. StockNews.com raised shares of EQT from a “sell” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group raised their price objective on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company boosted their price objective on EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, March 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $67.00 target price (up from $63.00) on shares of EQT in a research report on Wednesday. Finally, Stephens raised shares of EQT from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $59.00 in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.11.

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.