abrdn plc Sells 4,736 Shares of EQT Co. (NYSE:EQT)

abrdn plc trimmed its stake in EQT Co. (NYSE:EQT) by 10.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 42,598 shares of the oil and gas producer’s stock after selling 4,736 shares during the quarter. abrdn plc’s holdings in EQT were worth $1,968,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. HM Payson & Co. acquired a new stake in shares of EQT in the 3rd quarter valued at $25,000. Truvestments Capital LLC bought a new position in EQT during the 3rd quarter valued at about $30,000. Quarry LP boosted its position in EQT by 184.7% in the third 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 in the last quarter. Brown Brothers Harriman & Co. bought a new stake in EQT during the third quarter worth about $36,000. Finally, Financial Avengers Inc. increased its holdings in shares of EQT by 100.8% during the third quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 504 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.63% of the stock is currently owned by corporate insiders.

EQT Stock Up 4.8 %

NYSE:EQT opened at $53.55 on Tuesday. The stock’s fifty day simple moving average is $47.96 and its 200-day simple moving average is $40.45. The firm has a market capitalization of $31.95 billion, a P/E ratio of 63.74, a P/E/G ratio of 0.62 and a beta of 1.08. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a 12-month low of $30.02 and a 12-month high of $54.85.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.1575 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.18%. EQT’s payout ratio is currently 75.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EQT shares. Wells Fargo & Company boosted their target price on EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Citigroup boosted their price objective on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. UBS Group raised their target price on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. upped their price target on shares of EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $49.00 price objective on shares of EQT in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $49.94.

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.