EQT Corporation $EQT Stock Acquired by Quattro Financial Advisors LLC

Quattro Financial Advisors LLC lifted its holdings in shares of EQT Corporation (NYSE:EQT) by 45.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,005 shares of the oil and gas producer’s stock after purchasing an additional 9,930 shares during the period. Quattro Financial Advisors LLC’s holdings in EQT were worth $1,554,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of EQT. BlackRock Inc. purchased a new stake in EQT in the 2nd quarter valued at approximately $3,204,125,000. Bank of New York Mellon Corp acquired a new stake in EQT during the 2nd quarter valued at $512,148,000. Wellington Management Group LLP grew its holdings in EQT by 41.4% during the 2nd quarter. Wellington Management Group LLP now owns 22,565,479 shares of the oil and gas producer’s stock valued at $1,199,807,000 after buying an additional 6,603,286 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in EQT during the 2nd quarter valued at $163,705,000. Finally, Legal & General Group Plc acquired a new stake in EQT during the 2nd quarter valued at $127,420,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Zacks Research raised EQT from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 27th. Citigroup upped their price objective on EQT from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Truist Financial decreased their price objective on EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Stephens reaffirmed an “overweight” rating and set a $71.00 price objective on shares of EQT in a research note on Thursday, September 17th. Finally, Wall Street Zen cut EQT from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and a consensus target price of $67.64.

EQT News Roundup

Here are the key news stories impacting EQT this week:

• Positive Sentiment: EQT Corporation increased its quarterly dividend 3% to $0.17 per share, payable December 1 to shareholders of record November 4. The new annualized dividend is $0.68 per share, or roughly a 1.3% yield, providing a small positive signal on shareholder returns. EQT Increases Base Dividend
• Positive Sentiment: Mizuho maintained an “outperform” rating on EQT Corporation, despite reducing its price target from $72 to $68. The revised target still implies substantial potential upside from the current trading level. Mizuho EQT price target update
• Neutral Sentiment: Scotiabank initiated coverage with a “sector perform” rating and a $54 price target, suggesting limited near-term upside and a cautious view relative to the broader energy sector. Scotiabank initiates EQT coverage
• Neutral Sentiment: Reports that EQT is acquiring Stockbridge for $375 million and adding approximately $16.5 billion in assets under management concern EQT AB’s real-estate business, not EQT Corporation (NYSE: EQT). Similarly, the Kakaku.com and Cleanaway takeover reports relate to EQT AB and should not be treated as operating developments for the U.S. gas producer. EQT Stockbridge transaction
• Negative Sentiment: The Mizuho price-target reduction and Scotiabank’s neutral rating temper the bullish analyst outlook. EQT Corporation’s most recent reported quarter also missed consensus estimates for earnings and revenue, adding to investor caution.

Insider Buying and Selling at EQT

In other news, CEO Toby Rice sold 175,328 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the sale, the chief executive officer owned 2,157,865 shares in the company, valued at $118,747,310.95. This trade represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is currently owned by corporate insiders.

EQT Stock Performance

Shares of EQT opened at $52.42 on Friday. EQT Corporation has a 1 year low of $47.94 and a 1 year high of $68.24. The company’s 50 day simple moving average is $52.93 and its 200 day simple moving average is $54.18. The company has a market capitalization of $32.79 billion, a price-to-earnings ratio of 12.16 and a beta of 0.66. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67.

EQT (NYSE:EQT) last released its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%. The firm’s revenue was down 29.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, sell-side analysts predict that EQT Corporation will post 3.86 EPS for the current year.

EQT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 4th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, November 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from EQT’s previous quarterly dividend of $0.1650. EQT’s dividend payout ratio is currently 15.31%.

EQT Profile

EQT Corporation is a natural gas producer headquartered in Pittsburgh, Pennsylvania. The company explores for, develops, and produces natural gas, natural gas liquids, and crude oil, with its operations concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations.

In addition to its upstream production activities, EQT has interests in the midstream infrastructure used to gather, process, transport, and store natural gas. These assets support the movement of production from well sites to regional and interstate markets.