Transcend Capital Advisors LLC Buys New Stake in EQT Corporation $EQT

Transcend Capital Advisors LLC bought a new stake in EQT Corporation (NYSE:EQT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,216 shares of the oil and gas producer’s stock, valued at approximately $246,000.

Several other large investors have also recently added to or reduced their stakes in EQT. Nuveen LLC acquired a new stake in EQT in the 1st quarter valued at approximately $120,252,000. Vanguard Group Inc. increased its position in EQT by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer’s stock valued at $3,955,922,000 after acquiring an additional 1,509,054 shares during the period. Ninepoint Partners LP increased its position in EQT by 200.0% in the 1st quarter. Ninepoint Partners LP now owns 1,500,000 shares of the oil and gas producer’s stock valued at $80,145,000 after acquiring an additional 1,000,000 shares during the period. Situational Awareness LP acquired a new stake in EQT in the 1st quarter valued at approximately $52,864,000. Finally, Atalanta Sosnoff Capital LLC acquired a new stake in EQT in the 1st quarter valued at approximately $49,392,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Stock Up 1.4%

EQT opened at $52.50 on Friday. EQT Corporation has a one year low of $35.44 and a one year high of $61.02. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.58 and a current ratio of 0.58. The stock’s fifty day moving average is $52.88 and its 200-day moving average is $53.81. The company has a market capitalization of $32.76 billion, a PE ratio of 17.98, a P/E/G ratio of 0.44 and a beta of 0.50.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.78 billion. EQT had a return on equity of 6.88% and a net margin of 22.59%.The company’s quarterly revenue was up 52.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 EPS. On average, equities analysts predict that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 5th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, November 5th. This is a positive change from EQT’s previous quarterly dividend of $0.16. EQT’s payout ratio is presently 21.58%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Siebert Williams Shank lowered their target price on EQT from $62.00 to $59.00 and set a “hold” rating on the stock in a research report on Monday, October 13th. JPMorgan Chase & Co. lowered their target price on EQT from $64.00 to $62.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 30th. The Goldman Sachs Group dropped their price objective on EQT from $68.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Mizuho dropped their price objective on EQT from $66.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Finally, BMO Capital Markets dropped their price objective on EQT from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, September 22nd. Eighteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.52.

Insiders Place Their Bets

In related news, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP J.E.B. Bolen sold 1,422 shares of EQT stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total value of $75,067.38. Following the completion of the transaction, the executive vice president owned 69,486 shares in the company, valued at $3,668,165.94. The trade was a 2.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.65% of the company’s stock.

EQT Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.