20,122 Shares in EQT Corporation $EQT Purchased by Diversify Advisory Services LLC

Diversify Advisory Services LLC purchased a new stake in shares of EQT Corporation (NYSE:EQT) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 20,122 shares of the oil and gas producer’s stock, valued at approximately $1,046,000.

A number of other large investors have also added to or reduced their stakes in the stock. Gables Capital Management Inc. bought a new stake in EQT in the second quarter worth about $37,000. Oxbow Advisors LLC purchased a new stake in shares of EQT during the 2nd quarter worth approximately $333,000. Wealthfront Advisers LLC purchased a new stake in shares of EQT during the 2nd quarter worth approximately $2,625,000. Energy Income Partners LLC bought a new stake in shares of EQT in the 2nd quarter worth approximately $21,601,000. Finally, Meeder Advisory Services Inc. purchased a new position in EQT in the second quarter valued at approximately $517,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insiders Place Their Bets

In other EQT news, CEO Toby Z. Rice sold 175,328 shares of EQT stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the sale, the chief executive officer directly owned 2,157,865 shares in the company, valued at $118,747,310.95. The trade was a 7.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 274,042 shares of company stock valued at $15,005,076 over the last quarter. Company insiders own 0.72% of the company’s stock.

EQT Stock Up 0.9%

Shares of NYSE EQT opened at $53.63 on Thursday. EQT Corporation has a 52 week low of $47.94 and a 52 week high of $68.24. The business has a 50-day simple moving average of $51.89 and a two-hundred day simple moving average of $56.49. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. The company has a market cap of $33.55 billion, a P/E ratio of 12.44 and a beta of 0.58.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing analysts’ consensus estimates 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%. EQT’s revenue was down 29.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 earnings per share. Research analysts anticipate that EQT Corporation will post 4.06 earnings per share for the current fiscal year.

EQT Announces Dividend

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

Wall Street Analyst Weigh In

EQT has been the subject of several research reports. Truist Financial reduced their price objective on EQT from $74.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Wells Fargo & Company upped their price target on EQT from $70.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Citigroup cut their price target on EQT from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. BMO Capital Markets decreased their price objective on EQT from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, UBS Group dropped their price objective on shares of EQT from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, EQT presently has an average rating of “Moderate Buy” and an average target price of $68.64.

EQT News Roundup

Here are the key news stories impacting EQT this week:

• Positive Sentiment: Morgan Stanley lowered its price target for EQT Corporation slightly, from $68 to $67, but maintained an Overweight rating. The new target implies approximately 25% upside from the recent trading level, signaling continued analyst confidence in EQT’s valuation and natural-gas prospects. Benzinga
• Neutral Sentiment: CEO Toby Rice sold 175,328 EQT shares for approximately $9.6 million, reducing his direct stake by 7.51%. Because the transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, it may carry less negative significance than a discretionary sale, although insider selling can still weigh on sentiment. SEC insider transaction filing
• Negative Sentiment: EQT’s latest reported quarter remains a fundamental headwind: earnings per share came in at $0.39 versus a $0.41 consensus estimate, revenue declined 29.2% year over year to $1.68 billion, and revenue missed expectations. Analysts nevertheless project approximately $4.06 in full-year EPS.
• Neutral Sentiment: Several headlines about EQT acquiring the Melbourne Storm rugby club and considering a sale of Vietnamese language schools concern Swedish investment firm EQT AB, not EQT Corporation. They should not be interpreted as corporate actions by NYSE:EQT. Financial Times

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.