CIBC Private Wealth Group LLC Has $41.97 Million Holdings in EQT Co. (NYSE:EQT)

CIBC Private Wealth Group LLC trimmed its stake in shares of EQT Co. (NYSE:EQT) by 25.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 856,465 shares of the oil and gas producer’s stock after selling 284,742 shares during the period. CIBC Private Wealth Group LLC’s holdings in EQT were worth $41,967,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust lifted its holdings in EQT by 22.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after buying an additional 193 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of EQT by 26.6% during 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 during the period. Wilmington Savings Fund Society FSB boosted its holdings in EQT by 4.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer’s stock valued at $218,000 after acquiring an additional 223 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in EQT by 15.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer’s stock worth $79,000 after purchasing an additional 236 shares during the period. Finally, Radnor Capital Management LLC raised its holdings in EQT by 0.4% during the 4th quarter. Radnor Capital Management LLC now owns 60,948 shares of the oil and gas producer’s stock worth $2,810,000 after purchasing an additional 237 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EQT shares. Citigroup raised their target price on shares of EQT from $51.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Truist Financial lifted their target price on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Piper Sandler increased their price target on EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Finally, Scotiabank lowered EQT from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $55.00 to $54.00 in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $55.11.

EQT Stock Up 1.4 %

EQT stock opened at $53.07 on Monday. The company has a 50 day moving average of $51.38 and a 200-day moving average of $45.02. 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 twelve month low of $30.02 and a twelve month high of $56.66. The stock has a market capitalization of $31.71 billion, a PE ratio of 132.68, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. On average, equities research analysts anticipate that EQT Co. 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, March 3rd. Investors of record on Tuesday, February 18th were issued a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.19%. EQT’s payout ratio is presently 157.50%.

EQT 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.