Corebridge Financial Inc. Has $6.53 Million Stock Holdings in EQT Co. (NYSE:EQT)

Corebridge Financial Inc. reduced its stake in EQT Co. (NYSE:EQT) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 141,654 shares of the oil and gas producer’s stock after selling 6,231 shares during the period. Corebridge Financial Inc.’s holdings in EQT were worth $6,532,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EQT. Truvestments Capital LLC bought a new stake in EQT in the 3rd quarter valued at about $30,000. Quarry LP increased its holdings in shares of EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 578 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of EQT during the third quarter worth approximately $36,000. Financial Avengers Inc. lifted its holdings in shares of EQT by 100.8% in the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 504 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in EQT by 26.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 205 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Up 1.4 %

EQT stock opened at $53.07 on Friday. The firm has a market capitalization of $31.71 billion, a price-to-earnings ratio of 132.68, a P/E/G ratio of 0.64 and a beta of 1.12. The firm has a 50 day simple moving average of $51.38 and a 200 day simple moving average of $44.84. EQT Co. has a 1-year low of $30.02 and a 1-year high of $56.66. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37.

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

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given a $0.1575 dividend. 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 dividend payout ratio (DPR) is currently 157.50%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EQT shares. Wells Fargo & Company upped their price objective on shares of EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. raised their price target on shares of EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, March 13th. Stephens raised EQT from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $59.00 in a report on Tuesday, March 18th. Scotiabank lowered EQT from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $55.00 to $54.00 in a report on Friday, January 17th. Finally, UBS Group lifted their target price on EQT from $54.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.