Focus Partners Advisor Solutions LLC Purchases New Shares in EQT Corporation $EQT

Focus Partners Advisor Solutions LLC purchased a new stake in EQT Corporation (NYSE:EQT) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,495 shares of the oil and gas producer’s stock, valued at approximately $505,000.

Other institutional investors also recently modified their holdings of the company. Greykasell Wealth Strategies Inc. acquired a new position in shares of EQT during the fourth quarter worth approximately $26,000. Elyxium Wealth LLC bought a new position in EQT in the 4th quarter valued at $49,000. Root Financial Partners LLC boosted its position in EQT by 35.4% in the 1st 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 during the last quarter. State of Wyoming acquired a new stake in shares of EQT in the 2nd quarter valued at $58,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of EQT in the 3rd quarter valued at $114,000. 90.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley cut their price target on EQT from $74.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, June 26th. Truist Financial dropped their price objective on EQT from $74.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Jefferies Financial Group cut their target price on shares of EQT from $77.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. The Goldman Sachs Group reduced their target price on shares of EQT from $65.00 to $63.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, UBS Group dropped their price target on shares of EQT from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.48.

EQT Stock Up 0.3%

NYSE:EQT opened at $53.18 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT Corporation has a 12-month low of $47.94 and a 12-month high of $68.24. The stock’s fifty day simple moving average is $51.88 and its 200-day simple moving average is $56.51. The firm has a market capitalization of $33.27 billion, a P/E ratio of 12.34 and a beta of 0.58.

EQT (NYSE:EQT) last released its quarterly earnings data 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 net margin of 28.44% and a return on equity of 9.31%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the company posted $0.45 EPS. The company’s revenue for the quarter was down 29.2% compared to the same quarter last year. Equities research analysts expect that EQT Corporation will post 4.06 earnings per share for the current year.

EQT Announces Dividend

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

Insider Activity

In other news, CEO Toby Z. Rice sold 175,328 shares of the company’s stock in a transaction dated 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 $118,747,310.95. This represents a 7.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 274,042 shares of company stock worth $15,005,076. 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.