Hsbc Holdings PLC Reduces Position in EQT Corporation $EQT

Hsbc Holdings PLC lessened its holdings in shares of EQT Corporation (NYSE:EQT) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 859,442 shares of the oil and gas producer’s stock after selling 39,092 shares during the period. Hsbc Holdings PLC owned about 0.14% of EQT worth $45,930,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Senator Investment Group LP boosted its position in shares of EQT by 5.1% during the first quarter. Senator Investment Group LP now owns 1,030,000 shares of the oil and gas producer’s stock valued at $55,033,000 after buying an additional 49,717 shares during the period. Quantbot Technologies LP purchased a new position in shares of EQT during the first quarter valued at approximately $16,912,000. Northern Trust Corp boosted its position in shares of EQT by 2.0% during the first quarter. Northern Trust Corp now owns 5,692,985 shares of the oil and gas producer’s stock valued at $304,176,000 after buying an additional 113,716 shares during the period. Brooklyn Investment Group boosted its position in shares of EQT by 49.6% during the first quarter. Brooklyn Investment Group now owns 2,411 shares of the oil and gas producer’s stock valued at $129,000 after buying an additional 799 shares during the period. Finally, Algert Global LLC purchased a new position in shares of EQT during the first quarter valued at approximately $1,770,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Price Performance

NYSE EQT opened at $51.9810 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. The stock’s fifty day moving average price is $55.01 and its 200 day moving average price is $53.13. EQT Corporation has a 1 year low of $31.45 and a 1 year high of $61.02. The company has a market cap of $32.44 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 0.37 and a beta of 0.59.

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

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT’s dividend payout ratio is presently 34.05%.

Insider Buying and Selling at EQT

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction of $646,029.72. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Royal Bank Of Canada boosted their target price on EQT from $55.00 to $60.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 8th. Piper Sandler boosted their price target on EQT from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Barclays boosted 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. Mizuho upgraded EQT to an “outperform” rating and set a $66.00 price target for the company in a report on Tuesday, July 8th. Finally, Wells Fargo & Company boosted their price target on EQT from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, June 16th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, EQT has an average rating of “Moderate Buy” and a consensus target price of $60.71.

About EQT

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.