Blair William & Co. IL Increases Holdings in EQT Corporation (NYSE:EQT)

Blair William & Co. IL raised its holdings in shares of EQT Corporation (NYSE:EQT) by 184.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,367 shares of the oil and gas producer’s stock after acquiring an additional 46,944 shares during the quarter. Blair William & Co. IL’s holdings in EQT were worth $3,867,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in EQT. Capital International Investors raised its holdings in EQT by 21.3% during the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock worth $638,867,000 after purchasing an additional 2,433,632 shares in the last quarter. Northern Trust Corp grew its holdings in shares of EQT by 18.0% during the fourth quarter. Northern Trust Corp now owns 5,579,269 shares of the oil and gas producer’s stock worth $257,260,000 after purchasing an additional 851,087 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of EQT by 12.6% during the fourth quarter. Neuberger Berman Group LLC now owns 4,707,109 shares of the oil and gas producer’s stock worth $217,044,000 after purchasing an additional 525,533 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of EQT by 7.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,658,814 shares of the oil and gas producer’s stock worth $251,017,000 after purchasing an additional 311,154 shares in the last quarter. Finally, Sourcerock Group LLC boosted its position in shares of EQT by 9.4% in the 4th quarter. Sourcerock Group LLC now owns 4,628,798 shares of the oil and gas producer’s stock valued at $213,434,000 after purchasing an additional 399,073 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Transactions at EQT

In other news, EVP Sarah Fenton sold 12,438 shares of the business’s stock in a transaction that occurred on 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 $690,646.18. The trade was a 48.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vicky A. Bailey sold 4,259 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Mizuho raised EQT to an “outperform” rating and set a $66.00 price target on the stock in a research report on Tuesday, July 8th. Roth Capital initiated coverage on shares of EQT in a research report on Tuesday, June 24th. They issued a “buy” rating and a $69.00 price target for the company. Stephens lowered their price objective on shares of EQT from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company upped their target price on shares of EQT from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, June 16th. Finally, Barclays increased their target price on shares of EQT from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.84.

EQT Trading Down 0.4%

Shares of EQT stock opened at $51.26 on Friday. The business’s fifty day moving average price is $55.77 and its 200 day moving average price is $53.15. The firm has a market capitalization of $31.99 billion, a PE ratio of 27.71, a P/E/G ratio of 0.35 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. EQT Corporation has a 1-year low of $30.25 and a 1-year high of $61.02.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). EQT had a return on equity of 6.24% and a net margin of 15.87%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the company earned ($0.08) earnings per share. As a group, sell-side analysts forecast that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.2%. EQT’s dividend payout ratio (DPR) is 34.05%.

About EQT

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.