Van ECK Associates Corp Has $1.67 Million Stock Holdings in EQT Corporation $EQT

Van ECK Associates Corp trimmed its position in EQT Corporation (NYSE:EQT) by 93.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 31,307 shares of the oil and gas producer’s stock after selling 455,079 shares during the quarter. Van ECK Associates Corp’s holdings in EQT were worth $1,665,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in EQT by 1.0% in the fourth quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer’s stock worth $1,022,000 after acquiring an additional 198 shares in the last quarter. Root Financial Partners LLC raised its position in shares of EQT by 35.4% during the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 202 shares during the period. Rothschild Investment LLC lifted its holdings in shares of EQT by 0.5% in the 4th quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer’s stock worth $2,497,000 after purchasing an additional 215 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of EQT by 4.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer’s stock worth $392,000 after purchasing an additional 236 shares in the last quarter. Finally, United Capital Financial Advisors LLC grew its position in EQT by 1.4% in the 2nd quarter. United Capital Financial Advisors LLC now owns 23,897 shares of the oil and gas producer’s stock valued at $1,271,000 after purchasing an additional 340 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Trading Down 0.9%

NYSE EQT opened at $55.11 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $52.67 and a 200 day simple moving average of $56.35. EQT Corporation has a 12 month low of $47.94 and a 12 month high of $68.24. The firm has a market capitalization of $34.47 billion, a P/E ratio of 12.79 and a beta of 0.58.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (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 analysts’ expectations of $1.76 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. EQT’s revenue was down 29.2% compared to the same quarter last year. On average, analysts predict that EQT Corporation will post 3.96 EPS for the current fiscal year.

EQT Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on EQT. Truist Financial decreased their price target on shares of EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. UBS Group reduced their price objective on shares of EQT from $74.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. BMO Capital Markets decreased their target price on shares of EQT from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Freedom Capital upgraded shares of EQT to a “strong-buy” rating in a report on Tuesday, June 30th. Finally, Morgan Stanley dropped their price target on shares of EQT from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.10.

More EQT News

Here are the key news stories impacting EQT this week:

• Positive Sentiment: Analysts at Zacks reportedly increased their earnings estimates for EQT Corporation, a potentially supportive signal for the stock if the revisions reflect improving natural-gas market expectations or company-specific fundamentals. Zacks Research Brokers Boost Earnings Estimates for EQT
• Neutral Sentiment: EQT AB agreed to acquire a majority stake in specialty insurance and reinsurance broker McGill and Partners from Warburg Pincus for approximately $2 billion. McGill’s founder and CEO Steve McGill will continue to lead the business, while existing management and employees will retain significant ownership. Because this is an EQT AB private-equity transaction—not a deal by EQT Corporation—it should not directly affect the NYSE-listed energy producer’s earnings, assets, or valuation. EQT to acquire McGill and Partners
• Neutral Sentiment: Additional coverage of the McGill transaction describes it as part of private equity’s broader expansion into insurance brokerage. The repeated headlines may create ticker-name confusion, but they provide no new catalyst for EQT Corporation. EQT strikes $2bn deal for insurance broker McGill
• Negative Sentiment: A separate report says EQT is considering a fund-to-fund transfer involving AIG Hospitals, another EQT AB portfolio company. This is also unrelated to EQT Corporation and is unlikely to explain movement in EQT shares. EQT planning fund-to-fund transfer for AIG Hospitals

Insider Transactions at EQT

In other EQT news, CEO Toby Rice sold 175,328 shares of the stock in a transaction dated Friday, August 14th. The shares were 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 owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. This trade represents a 7.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.72% of the company’s stock.

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.