Rhumbline Advisers Sells 5,506 Shares of EQT Corporation $EQT

Rhumbline Advisers decreased its position in EQT Corporation (NYSE:EQT) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,058,593 shares of the oil and gas producer’s stock after selling 5,506 shares during the period. Rhumbline Advisers’ holdings in EQT were worth $61,737,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQT. Dorsey Wright & Associates lifted its position in EQT by 11.3% during the 2nd quarter. Dorsey Wright & Associates now owns 10,399 shares of the oil and gas producer’s stock valued at $606,000 after purchasing an additional 1,059 shares during the period. Rothschild Investment LLC lifted its holdings in EQT by 1.0% in the second quarter. Rothschild Investment LLC now owns 46,436 shares of the oil and gas producer’s stock valued at $2,708,000 after buying an additional 463 shares during the period. SG Americas Securities LLC boosted its stake in EQT by 1,286.2% in the second quarter. SG Americas Securities LLC now owns 735,936 shares of the oil and gas producer’s stock valued at $42,920,000 after acquiring an additional 682,844 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in EQT by 0.3% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 246,947 shares of the oil and gas producer’s stock worth $14,402,000 after acquiring an additional 856 shares during the period. Finally, Sound Shore Management Inc CT acquired a new stake in EQT during the 2nd quarter worth $67,539,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Mizuho reduced their price target on EQT from $66.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Citigroup increased their target price on EQT from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. William Blair began coverage on EQT in a research report on Tuesday, October 14th. They set an “outperform” rating for the company. Royal Bank Of Canada upped their price target on EQT from $60.00 to $62.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 7th. Finally, Piper Sandler increased their price target on shares of EQT from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, November 18th. Eighteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.65.

EQT Stock Up 1.3%

NYSE:EQT opened at $57.06 on Monday. EQT Corporation has a 1 year low of $42.27 and a 1 year high of $61.26. The stock has a 50-day moving average price of $54.91 and a two-hundred day moving average price of $54.67. The stock has a market cap of $35.61 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 0.44 and a beta of 0.55. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. EQT had a return on equity of 6.88% and a net margin of 22.59%.The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the business posted $0.12 EPS. EQT’s revenue for the quarter was up 52.6% on a year-over-year basis. As a group, equities analysts expect that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 5th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. This is a boost from EQT’s previous quarterly dividend of $0.16. The ex-dividend date is Wednesday, November 5th. EQT’s dividend payout ratio is currently 22.60%.

Insider Activity

In related news, EVP J.E.B. Bolen sold 1,422 shares of the firm’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $52.79, for a total transaction of $75,067.38. Following the sale, the executive vice president directly owned 69,486 shares in the company, valued at $3,668,165.94. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by corporate insiders.

EQT 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.