Glenmede Trust Co. NA Purchases 21,249 Shares of EQT Corporation $EQT

Glenmede Trust Co. NA raised its position in EQT Corporation (NYSE:EQT) by 112.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,189 shares of the oil and gas producer’s stock after acquiring an additional 21,249 shares during the period. Glenmede Trust Co. NA’s holdings in EQT were worth $2,558,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Greykasell Wealth Strategies Inc. purchased a new position in EQT in the fourth quarter worth $26,000. Elyxium Wealth LLC purchased a new stake in shares of EQT during the 4th quarter valued at $49,000. Root Financial Partners LLC lifted its holdings in shares of EQT by 35.4% during the 1st quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock valued at $49,000 after purchasing an additional 202 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of EQT by 186.4% in the 4th quarter. Sound Income Strategies LLC now owns 1,266 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 824 shares in the last quarter. Finally, City Holding Co. boosted its position in shares of EQT by 1,708.5% in the 4th quarter. City Holding Co. now owns 1,483 shares of the oil and gas producer’s stock worth $79,000 after purchasing an additional 1,401 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Toby Z. Rice sold 96,983 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $54.28, for a total value of $5,264,237.24. Following the sale, the chief executive officer owned 2,334,924 shares in the company, valued at $126,739,674.72. This represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $69.00 target price on shares of EQT in a research report on Wednesday, April 15th. Sanford C. Bernstein reissued an “outperform” rating on shares of EQT in a report on Thursday, July 30th. Wells Fargo & Company raised their price target on EQT from $70.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Truist Financial dropped their price target on EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Finally, Stephens upped their price objective on shares of EQT from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.08.

EQT Stock Down 1.5%

NYSE:EQT opened at $52.78 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67. The company’s fifty day moving average price is $52.13 and its 200-day moving average price is $56.53. EQT Corporation has a 1-year low of $47.94 and a 1-year high of $68.24. The firm has a market capitalization of $33.01 billion, a P/E ratio of 12.25 and a beta of 0.58.

EQT (NYSE:EQT) last posted its earnings results 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). The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. The company’s revenue for the quarter was down 29.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, equities research analysts anticipate that EQT Corporation will post 4.08 EPS for the current year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, August 5th. EQT’s payout ratio is 15.31%.

EQT 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.