Zurich Insurance Group Ltd FI Buys New Stake in EQT Corporation $EQT

Zurich Insurance Group Ltd FI purchased a new stake in EQT Corporation (NYSE:EQT) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 345,266 shares of the oil and gas producer’s stock, valued at approximately $18,448,000. Zurich Insurance Group Ltd FI owned approximately 0.06% of EQT at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Larson Financial Group LLC boosted its stake in EQT by 14.1% in the 1st quarter. Larson Financial Group LLC now owns 1,582 shares of the oil and gas producer’s stock valued at $85,000 after buying an additional 196 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in EQT by 2.6% in the 1st quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer’s stock valued at $416,000 after buying an additional 207 shares in the last quarter. Generali Investments Management Co LLC boosted its stake in EQT by 14.1% in the 1st quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer’s stock valued at $91,000 after buying an additional 211 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its stake in EQT by 3.9% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer’s stock valued at $309,000 after buying an additional 219 shares in the last quarter. Finally, Harbour Investments Inc. boosted its stake in EQT by 48.4% in the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 226 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group raised their price target on EQT from $64.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Melius Research assumed coverage on EQT in a report on Wednesday, August 20th. They set a “buy” rating and a $64.00 price target for the company. Mizuho raised EQT to an “outperform” rating and set a $66.00 price target for the company in a report on Tuesday, July 8th. Melius assumed coverage on EQT in a report on Wednesday, August 20th. They set a “buy” rating and a $64.00 price target for the company. Finally, Barclays raised their price target on EQT from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.14.

Insider Buying and Selling

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of EQT stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the transaction, the executive vice president directly owned 13,297 shares in the company, valued at approximately $690,646.18. The trade was a 48.33% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

EQT Price Performance

EQT opened at $50.24 on Wednesday. The company has a fifty day moving average price of $53.22 and a two-hundred day moving average price of $53.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. EQT Corporation has a 52 week low of $31.45 and a 52 week high of $61.02. The firm has a market capitalization of $31.35 billion, a PE ratio of 27.16, a P/E/G ratio of 0.40 and a beta of 0.58.

EQT (NYSE:EQT) last released its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). EQT had a return on equity of 6.24% and a net margin of 15.87%.The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the firm posted ($0.08) EPS. As a group, analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, August 6th. EQT’s dividend payout ratio is presently 34.05%.

EQT Company 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.