Deutsche Bank AG Acquires New Holdings in EQT Corporation $EQT

Deutsche Bank AG purchased a new stake in EQT Corporation (NYSE:EQT) during the second quarter, according to its most recent filing with the SEC. The firm purchased 2,246,778 shares of the oil and gas producer’s stock, valued at approximately $119,461,000.

Several other large investors have also recently made changes to their positions in EQT. Reaves W H & Co. Inc. raised its stake in shares of EQT by 12.9% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock worth $62,282,000 after acquiring an additional 132,741 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in EQT by 21.5% during the fourth quarter. Cullen Frost Bankers Inc. now owns 186,352 shares of the oil and gas producer’s stock valued at $9,988,000 after acquiring an additional 32,921 shares during the last quarter. BOKF NA boosted its stake in EQT by 25.9% in the fourth quarter. BOKF NA now owns 138,368 shares of the oil and gas producer’s stock valued at $7,417,000 after acquiring an additional 28,427 shares in the last quarter. Allstate Corp boosted its stake in EQT by 114.0% in the fourth quarter. Allstate Corp now owns 48,523 shares of the oil and gas producer’s stock valued at $2,601,000 after acquiring an additional 25,852 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in EQT by 9.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,072 shares of the oil and gas producer’s stock worth $31,253,000 after purchasing an additional 48,587 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

EQT Price Performance

NYSE:EQT opened at $53.63 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67. The company has a 50 day moving average price of $51.89 and a 200-day moving average price of $56.49. EQT Corporation has a 1-year low of $47.94 and a 1-year high of $68.24. The firm has a market cap of $33.55 billion, a price-to-earnings ratio of 12.44 and a beta of 0.58.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The business’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. Equities research analysts forecast that EQT Corporation will post 4.06 EPS for the current year.

EQT Announces Dividend

The company also recently disclosed 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 is Wednesday, August 5th. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. EQT’s dividend payout ratio (DPR) is presently 15.31%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Citigroup reduced their price target on EQT from $70.00 to $67.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Sanford C. Bernstein reissued an “outperform” rating on shares of EQT in a research report on Thursday, July 30th. JPMorgan Chase & Co. dropped their target price on EQT from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 23rd. Jefferies Financial Group reduced their target price on EQT from $77.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Finally, BMO Capital Markets decreased their price target on EQT from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.64.

Trending Headlines about EQT

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

Insiders Place Their Bets

In other news, CEO Toby Z. Rice sold 175,328 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly 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 filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 274,042 shares of company stock valued at $15,005,076. Company insiders own 0.72% of the company’s stock.

About EQT

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.