Corebridge Financial Inc. Sells 6,231 Shares of EQT Co. (NYSE:EQT)

Corebridge Financial Inc. decreased its position in shares of EQT Co. (NYSE:EQT) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,654 shares of the oil and gas producer’s stock after selling 6,231 shares during the quarter. Corebridge Financial Inc.’s holdings in EQT were worth $6,532,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of EQT by 38.7% during the 3rd 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 in the last quarter. State Street Corp lifted its stake 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 purchasing an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of EQT by 34.4% in 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 raised its holdings in shares of EQT by 386.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock worth $205,830,000 after buying an additional 3,454,741 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in shares of EQT during the 3rd quarter worth $97,979,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on EQT shares. Jefferies Financial Group boosted their target price on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Truist Financial upped their price objective on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. raised their target price 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. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target for the company in a report on Wednesday, January 15th. Finally, Wells Fargo & Company raised their price objective on EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, March 19th. 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. According to data from MarketBeat, the company presently 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 Friday. The firm has a 50 day moving average price of $51.38 and a two-hundred day moving average price of $44.84. 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 52-week low of $30.02 and a 52-week high of $56.66. The firm has a market cap of $31.71 billion, a price-to-earnings ratio of 132.68, a PEG 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 business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. Equities analysts predict that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The firm also recently announced 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 of this dividend was Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.19%. EQT’s payout ratio is 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.