15,822 Shares in EQT Corporation $EQT Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC purchased a new position in shares of EQT Corporation (NYSE:EQT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,822 shares of the oil and gas producer’s stock, valued at approximately $841,000.

A number of other hedge funds and other institutional investors have also modified their holdings of EQT. Greykasell Wealth Strategies Inc. purchased a new stake in shares of EQT during the 4th quarter worth $26,000. Meeder Asset Management Inc. purchased a new position in EQT in the second quarter valued at $26,000. Gables Capital Management Inc. purchased a new position in EQT in the second quarter valued at $37,000. Elyxium Wealth LLC acquired a new stake in EQT in the fourth quarter valued at $49,000. Finally, Root Financial Partners LLC raised its stake in EQT by 35.4% in the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock valued at $49,000 after buying an additional 202 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of EQT in a report on Thursday, July 30th. Weiss Ratings lowered EQT from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Truist Financial decreased their target price on EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Jefferies Financial Group lowered their price target on EQT from $77.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Finally, BMO Capital Markets dropped their price target on shares of EQT from $76.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, EQT currently has a consensus rating of “Moderate Buy” and an average price target of $68.10.

EQT Stock Performance

NYSE EQT opened at $53.74 on Friday. The company has a fifty day moving average of $51.99 and a two-hundred day moving average of $56.45. The company has a market capitalization of $33.62 billion, a PE ratio of 12.47 and a beta of 0.58. EQT Corporation has a 1 year low of $47.94 and a 1 year high of $68.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). EQT had a return on equity of 9.31% and a net margin of 28.44%.The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm posted $0.45 EPS. The firm’s revenue for the quarter was down 29.2% on a year-over-year basis. As a group, analysts expect that EQT Corporation will post 3.97 earnings per share for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.66 annualized dividend and a yield of 1.2%. EQT’s payout ratio is 15.31%.

Insiders Place Their Bets

In other news, CEO Toby Z. Rice sold 175,328 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the sale, the chief executive officer directly owned 2,157,865 shares of the company’s stock, valued at approximately $118,747,310.95. This represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 274,042 shares of company stock valued at $15,005,076 in the last three months. 0.72% of the stock is currently owned by insiders.

EQT Company Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.