EQT Co. (EQT) Director Philip G. Behrman Acquires 20,000 Shares

EQT Co. (NYSE:EQT) Director Philip G. Behrman acquired 20,000 shares of the company’s stock in a transaction on Friday, November 16th. The shares were bought at an average price of $16.51 per share, for a total transaction of $330,200.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $330,200. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NYSE EQT traded up $0.46 during mid-day trading on Monday, reaching $17.09. 710,972 shares of the company’s stock were exchanged, compared to its average volume of 12,589,101. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.48 and a beta of 0.91. EQT Co. has a 52 week low of $16.29 and a 52 week high of $60.35. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.47 and a quick ratio of 0.47.

EQT (NYSE:EQT) last released its earnings results on Thursday, October 25th. The oil and gas producer reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. EQT had a positive return on equity of 3.77% and a negative net margin of 6.86%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the business posted $0.12 EPS. Research analysts expect that EQT Co. will post 2.3 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Wednesday, November 21st will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Tuesday, November 20th. EQT’s dividend payout ratio is currently 8.16%.

A number of institutional investors have recently made changes to their positions in EQT. Virtus Alternative Investment Advisers Inc. bought a new stake in EQT in the 3rd quarter valued at about $133,000. Cerebellum GP LLC raised its stake in EQT by 71.4% in the 3rd quarter. Cerebellum GP LLC now owns 3,488 shares of the oil and gas producer’s stock valued at $154,000 after acquiring an additional 1,453 shares during the period. Piedmont Investment Advisors LLC bought a new stake in EQT in the 2nd quarter valued at about $163,000. Dupont Capital Management Corp raised its stake in EQT by 48.7% in the 2nd quarter. Dupont Capital Management Corp now owns 3,876 shares of the oil and gas producer’s stock valued at $214,000 after acquiring an additional 1,270 shares during the period. Finally, MML Investors Services LLC bought a new stake in EQT in the 3rd quarter valued at about $218,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

A number of research firms have recently commented on EQT. TD Securities lowered their target price on EQT from $53.00 to $20.00 and set a “hold” rating on the stock in a research note on Thursday. Credit Suisse Group lowered their target price on EQT from $48.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley cut EQT from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $48.00 to $12.00 in a research note on Wednesday, November 14th. BMO Capital Markets reiterated a “hold” rating and set a $35.00 target price on shares of EQT in a research note on Tuesday, November 13th. Finally, Zacks Investment Research reiterated a “buy” rating and set a $35.00 target price on shares of EQT in a research note on Tuesday, November 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $48.93.

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About EQT

EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.

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