Sanctuary Advisors LLC Buys New Stake in EQT Corporation $EQT

Sanctuary Advisors LLC bought a new position in EQT Corporation (NYSE:EQT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 75,388 shares of the oil and gas producer’s stock, valued at approximately $4,008,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Greykasell Wealth Strategies Inc. acquired a new stake in shares of EQT in the fourth quarter valued at about $26,000. Meeder Asset Management Inc. acquired a new stake in EQT in the 2nd quarter valued at approximately $26,000. Gables Capital Management Inc. acquired a new stake in EQT in the 2nd quarter valued at approximately $37,000. Elyxium Wealth LLC bought a new position in EQT in the 4th quarter worth approximately $49,000. Finally, Root Financial Partners LLC lifted its holdings in shares of EQT by 35.4% during the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after buying an additional 202 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Up 0.4%

Shares of NYSE EQT opened at $54.00 on Wednesday. EQT Corporation has a 52-week low of $47.94 and a 52-week high of $68.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67. The business has a fifty day moving average of $52.10 and a two-hundred day moving average of $56.44. The stock has a market cap of $33.78 billion, a PE ratio of 12.53 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 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 the consensus estimate of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The firm’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 EPS. As a group, equities research analysts expect that EQT Corporation will post 3.97 earnings per share for the current fiscal year.

EQT Dividend Announcement

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

Wall Street Analysts Forecast Growth

EQT has been the topic of several research analyst reports. Wall Street Zen downgraded shares of EQT from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Freedom Capital upgraded shares of EQT to a “strong-buy” rating in a report on Tuesday, June 30th. Truist Financial reduced their target price on shares of EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Capital One Financial lifted their target price on EQT from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Finally, Citigroup cut their price target on EQT from $70.00 to $67.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $68.10.

Insider Activity at EQT

In other news, CEO Toby Z. Rice sold 175,328 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 2,157,865 shares of the company’s stock, valued at $118,747,310.95. The trade was a 7.51% decrease in their position. The sale was disclosed in a legal 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. Over the last 90 days, insiders sold 274,042 shares of company stock valued at $15,005,076. 0.72% of the stock is owned by insiders.

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.