Rafferty Asset Management LLC Sells 55,409 Shares of EQT Corporation $EQT

Rafferty Asset Management LLC decreased its holdings in shares of EQT Corporation (NYSE:EQT) by 19.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 224,040 shares of the oil and gas producer’s stock after selling 55,409 shares during the period. Rafferty Asset Management LLC’s holdings in EQT were worth $11,970,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Larson Financial Group LLC raised its position in shares of EQT by 14.1% during the 1st quarter. Larson Financial Group LLC now owns 1,582 shares of the oil and gas producer’s stock valued at $85,000 after acquiring an additional 196 shares during the last quarter. Fidelis Capital Partners LLC raised its position in shares of EQT by 2.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer’s stock valued at $416,000 after acquiring an additional 207 shares during the last quarter. Generali Investments Management Co LLC increased its position in shares of EQT by 14.1% in the 1st quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer’s stock valued at $91,000 after buying an additional 211 shares in the last quarter. Bartlett & CO. Wealth Management LLC increased its position in shares of EQT by 3.9% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer’s stock valued at $309,000 after buying an additional 219 shares in the last quarter. Finally, Harbour Investments Inc. increased its position in shares of EQT by 48.4% in the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 226 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Insider Transactions at EQT

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is available through this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $51.94, for a total transaction of $646,029.72. Following the sale, the executive vice president owned 13,297 shares in the company, valued at $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 owned by insiders.

EQT Trading Down 2.5%

EQT opened at $51.38 on Thursday. EQT Corporation has a 1-year low of $31.45 and a 1-year high of $61.02. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The company has a market cap of $32.06 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 0.41 and a beta of 0.59. The company has a fifty day moving average price of $54.50 and a two-hundred day moving average price of $53.13.

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

EQT Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Roth Capital cut shares of EQT from a “strong-buy” rating to a “neutral” rating and lowered their price objective for the company from $75.00 to $57.00 in a research report on Monday, August 18th. Melius Research assumed coverage on shares of EQT in a research note on Wednesday, August 20th. They set a “buy” rating and a $64.00 price objective for the company. Jefferies Financial Group reiterated a “buy” rating and issued a $70.00 target price (up from $60.00) on shares of EQT in a research note on Tuesday, July 8th. UBS Group increased their price target on shares of EQT from $64.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Finally, Mizuho raised shares of EQT to an “outperform” rating and set a $66.00 target price on the stock in a report on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.14.

EQT Company Profile

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.