1,478,839 Shares in EQT Corporation $EQT Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of EQT Corporation (NYSE:EQT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 1,478,839 shares of the oil and gas producer’s stock, valued at approximately $78,630,000.

A number of other hedge funds have also modified their holdings of the company. Greykasell Wealth Strategies Inc. bought a new position in shares of EQT during the fourth quarter worth $26,000. Elyxium Wealth LLC bought a new position in EQT during the fourth quarter worth about $49,000. Root Financial Partners LLC lifted its holdings in 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 acquiring an additional 202 shares in the last quarter. State of Wyoming acquired a new position in EQT in the second quarter valued at about $58,000. Finally, Sunbelt Securities Inc. acquired a new position in EQT in the third quarter valued at about $114,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EQT shares. Wells Fargo & Company raised their price target on EQT from $70.00 to $79.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. UBS Group decreased their price objective on EQT from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Stephens raised their target price on shares of EQT from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. lowered their price objective on shares of EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Tuesday, June 23rd. Finally, Truist Financial dropped their price objective on shares of EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Two 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 given a Sell rating to the company’s stock. According to data from MarketBeat, EQT has a consensus rating of “Moderate Buy” and a consensus target price of $68.48.

EQT Stock Up 0.3%

NYSE:EQT opened at $53.18 on Wednesday. The stock has a 50-day simple moving average of $51.88 and a 200 day simple moving average of $56.51. EQT Corporation has a 52-week low of $47.94 and a 52-week high of $68.24. The company has a market cap of $33.27 billion, a PE ratio of 12.34 and a beta of 0.58. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67.

EQT (NYSE:EQT) last released its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS 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 net margin of 28.44% and a return on equity of 9.31%. The company’s revenue was down 29.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 EPS. On average, sell-side analysts expect that EQT Corporation will post 4.06 EPS for the current fiscal year.

EQT Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Toby Z. Rice sold 175,328 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the transaction, the chief executive officer owned 2,157,865 shares of the company’s stock, valued at approximately $118,747,310.95. This trade represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 274,042 shares of company stock valued at $15,005,076 over the last ninety days. 0.72% of the stock is currently owned by company 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.