Wellington Management Group LLP Grows Stake in EQT Corporation $EQT

Wellington Management Group LLP increased its position in shares of EQT Corporation (NYSE:EQT) by 41.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,565,479 shares of the oil and gas producer’s stock after purchasing an additional 6,603,286 shares during the quarter. Wellington Management Group LLP’s holdings in EQT were worth $1,199,807,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Greykasell Wealth Strategies Inc. acquired a new stake in EQT in the fourth quarter valued at $26,000. Meeder Asset Management Inc. acquired a new position in shares of EQT during the 2nd quarter worth $26,000. Wedbush Fund Advisers LLC raised its stake in shares of EQT by 251.8% during the 2nd quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 413 shares during the last quarter. Gables Capital Management Inc. purchased a new stake in shares of EQT in the 2nd quarter worth about $37,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of EQT in the 4th quarter worth about $49,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EQT shares. Freedom Capital raised shares of EQT to a “strong-buy” rating in a research note on Tuesday, June 30th. Jefferies Financial Group cut their target price on shares of EQT from $77.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. BMO Capital Markets reduced their price target on shares of EQT from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Stephens increased their price target on shares of EQT from $71.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of EQT in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.10.

EQT Stock Down 0.4%

EQT opened at $54.56 on Friday. 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 firm has a market cap of $34.13 billion, a P/E ratio of 12.66 and a beta of 0.58. EQT Corporation has a 52 week low of $47.94 and a 52 week high of $68.24. The business’s fifty day simple moving average is $52.33 and its 200 day simple moving average is $56.40.

EQT (NYSE:EQT) last posted 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). EQT had a return on equity of 9.31% and a net margin of 28.44%.The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the business posted $0.45 EPS. The company’s revenue for the quarter was down 29.2% compared to the same quarter last year. As a group, equities research analysts anticipate that EQT Corporation will post 3.97 EPS for the current fiscal year.

EQT Dividend Announcement

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

Insider Activity at EQT

In other news, CEO Toby Z. Rice sold 175,328 shares of EQT stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 274,042 shares of company stock worth $15,005,076 in the last ninety days. Insiders own 0.72% of the company’s stock.

EQT Company 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.