Cypress Capital Group Acquires Shares of 4,172 EQT Corporation (NYSE:EQT)

Cypress Capital Group acquired a new stake in shares of EQT Corporation (NYSE:EQT) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,172 shares of the oil and gas producer’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQT. Slate Path Capital LP purchased a new stake in EQT during the 4th quarter valued at approximately $123,575,000. Castle Hook Partners LP boosted its holdings in EQT by 199.5% in the 4th quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer’s stock valued at $184,012,000 after purchasing an additional 2,658,375 shares in the last quarter. Capital International Investors boosted its holdings in EQT by 21.3% in the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock valued at $638,867,000 after purchasing an additional 2,433,632 shares in the last quarter. Nuveen LLC purchased a new stake in EQT in the 1st quarter valued at approximately $120,252,000. Finally, Vanguard Group Inc. boosted its holdings in EQT by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer’s stock valued at $3,955,922,000 after purchasing an additional 1,509,054 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group reaffirmed a “buy” rating on shares of EQT in a report on Monday, July 14th. Barclays lifted their price objective on EQT from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of EQT in a report on Tuesday, July 15th. Piper Sandler lifted their price objective on EQT from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Finally, Stephens dropped their target price on shares of EQT from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.84.

Insider Transactions at EQT

In other news, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total transaction of $219,594.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of EQT 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 owned 13,297 shares of the company’s stock, valued at approximately $690,646.18. This trade represents a 48.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

EQT Stock Up 1.2%

Shares of NYSE EQT opened at $51.89 on Tuesday. EQT Corporation has a 12-month low of $30.88 and a 12-month high of $61.02. The company has a market capitalization of $32.38 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 0.36 and a beta of 0.59. 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 firm’s 50-day moving average is $55.60 and its two-hundred day moving average is $53.11.

EQT (NYSE:EQT) last announced its quarterly 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 business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the company earned ($0.08) EPS. Equities analysts anticipate that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

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

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.