15,822 Shares in EQT Corporation $EQT Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC purchased a new stake in EQT Corporation (NYSE:EQT) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 15,822 shares of the oil and gas producer’s stock, valued at approximately $841,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amplify Investments LLC acquired a new position in shares of EQT in the second quarter valued at approximately $58,000. Fore Capital LLC purchased a new position in EQT in the 2nd quarter valued at $1,329,000. Danske Bank A S purchased a new position in EQT in the 2nd quarter valued at $878,000. Diversify Advisory Services LLC acquired a new position in EQT in the 2nd quarter valued at $1,046,000. Finally, Gables Capital Management Inc. acquired a new position in EQT in the 2nd quarter valued at $37,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at EQT

In other news, CEO Toby Z. Rice sold 175,328 shares of EQT stock in a transaction that occurred on 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 approximately $118,747,310.95. This trade represents a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 valued at $15,005,076 over the last three months. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on EQT. Jefferies Financial Group reduced their target price on shares of EQT from $77.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. JPMorgan Chase & Co. reduced their price objective on shares of EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Tuesday, June 23rd. Weiss Ratings lowered EQT from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Morgan Stanley dropped their target price on EQT from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Zacks Research downgraded EQT from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.10.

EQT Price Performance

Shares of NYSE EQT opened at $53.74 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67. EQT Corporation has a one year low of $47.94 and a one year high of $68.24. The firm has a market capitalization of $33.62 billion, a P/E ratio of 12.47 and a beta of 0.58. The company’s fifty day moving average is $51.99 and its two-hundred day moving average is $56.45.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). EQT had a net margin of 28.44% and a return on equity of 9.31%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the business earned $0.45 EPS. The business’s revenue for the quarter was down 29.2% compared to the same quarter last year. Analysts forecast that EQT Corporation will post 3.97 EPS for the current fiscal year.

EQT Announces Dividend

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

EQT 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.