Permanens Capital L.P. Buys 12,381 Shares of EQT Corporation $EQT

Permanens Capital L.P. grew its stake in shares of EQT Corporation (NYSE:EQT) by 314.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,320 shares of the oil and gas producer’s stock after acquiring an additional 12,381 shares during the period. Permanens Capital L.P.’s holdings in EQT were worth $868,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of EQT. Greykasell Wealth Strategies Inc. purchased a new position in EQT during the 4th quarter worth $26,000. Meeder Asset Management Inc. bought a new position in shares of EQT during the 2nd quarter worth $26,000. Wedbush Fund Advisers LLC grew its position 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 in the last quarter. Gables Capital Management Inc. purchased a new position in shares of EQT during the second quarter valued at $37,000. Finally, Elyxium Wealth LLC purchased a new position in shares of EQT during the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays dropped their target price on shares of EQT from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Morgan Stanley reduced their price target on EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Wednesday, August 19th. Freedom Capital raised EQT to a “strong-buy” rating in a research report on Tuesday, June 30th. Stephens boosted their target price on shares of EQT from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Finally, Citigroup lowered their price target on shares of EQT from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and a consensus price target of $68.10.

Insider Buying and Selling

In other EQT news, CEO Toby Z. Rice sold 175,328 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the sale, the chief executive officer owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. The trade was a 7.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 274,042 shares of company stock worth $15,005,076. Insiders own 0.72% of the company’s stock.

EQT Stock Up 1.5%

NYSE:EQT opened at $54.79 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT Corporation has a twelve month low of $47.94 and a twelve month high of $68.24. The company has a market cap of $34.27 billion, a PE ratio of 12.71 and a beta of 0.58. The company’s 50 day moving average is $52.17 and its two-hundred day moving average is $56.43.

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

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be paid a $0.165 dividend. The ex-dividend date 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 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.