Transcend Capital Advisors LLC Takes $246,000 Position in EQT Corporation $EQT

Transcend Capital Advisors LLC purchased a new stake in shares of EQT Corporation (NYSE:EQT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,216 shares of the oil and gas producer’s stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cullen Frost Bankers Inc. purchased a new position in shares of EQT during the second quarter valued at $110,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of EQT by 3.2% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 163,192 shares of the oil and gas producer’s stock valued at $9,516,000 after buying an additional 5,079 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of EQT by 2.6% during the second quarter. Whittier Trust Co. now owns 302,900 shares of the oil and gas producer’s stock valued at $17,662,000 after buying an additional 7,647 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of EQT by 38.1% during the second quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock valued at $60,000 after buying an additional 283 shares in the last quarter. Finally, Praxis Investment Management Inc. grew its holdings in shares of EQT by 18.0% during the second quarter. Praxis Investment Management Inc. now owns 32,210 shares of the oil and gas producer’s stock valued at $1,878,000 after buying an additional 4,910 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Transactions at EQT

In other EQT news, EVP J.E.B. Bolen sold 1,422 shares of the business’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total value of $75,067.38. Following the completion of the sale, the executive vice president owned 69,486 shares of the company’s stock, valued at $3,668,165.94. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vicky A. Bailey sold 4,259 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. Additional details regarding this sale are available in the official SEC disclosure. 0.65% of the stock is owned by insiders.

EQT Price Performance

Shares of NYSE:EQT opened at $52.50 on Friday. EQT Corporation has a fifty-two week low of $35.44 and a fifty-two week high of $61.02. The business has a 50-day moving average of $52.88 and a two-hundred day moving average of $53.81. The stock has a market capitalization of $32.76 billion, a P/E ratio of 17.98, a P/E/G ratio of 0.44 and a beta of 0.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.58 and a quick ratio of 0.58.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. EQT had a return on equity of 6.88% and a net margin of 22.59%.The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 52.6% compared to the same quarter last year. On average, equities research analysts predict that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 5th will be given a $0.165 dividend. This is an increase from EQT’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 5th. EQT’s payout ratio is presently 21.58%.

Analysts Set New Price Targets

EQT has been the topic of a number of research analyst reports. Scotiabank lifted their price target on EQT from $68.00 to $70.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Barclays reduced their price objective on EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Citigroup lifted their price objective on EQT from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Melius started coverage on EQT in a research report on Wednesday, August 20th. They set a “buy” rating and a $64.00 price objective for the company. Finally, Melius Research started coverage on EQT in a research report on Wednesday, August 20th. They set a “buy” rating and a $64.00 price objective for the company. Eighteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.52.

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.