EQT Corporation $EQT Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC lowered its holdings in EQT Corporation (NYSE:EQT) by 30.2% in the second quarter, Holdings Channel.com reports. The fund owned 22,599 shares of the oil and gas producer’s stock after selling 9,798 shares during the quarter. Peregrine Capital Management LLC’s holdings in EQT were worth $1,318,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new stake in EQT in the first quarter valued at $35,000. Harbour Investments Inc. lifted its holdings in EQT by 48.4% in the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 226 shares during the period. Private Trust Co. NA lifted its holdings in EQT by 38.1% in 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 acquiring an additional 283 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in EQT by 197.4% in the first quarter. Hazlett Burt & Watson Inc. now owns 1,383 shares of the oil and gas producer’s stock valued at $73,000 after acquiring an additional 918 shares during the period. Finally, Montag A & Associates Inc. acquired a new stake in EQT in the first quarter valued at $77,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Trading Down 2.8%

EQT stock opened at $52.23 on Wednesday. The stock has a market cap of $32.60 billion, a PE ratio of 17.89, a P/E/G ratio of 0.46 and a beta of 0.50. The stock has a 50-day moving average price of $52.86 and a 200 day moving average price of $53.81. EQT Corporation has a 52 week low of $35.44 and a 52 week high of $61.02. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29.

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

EQT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 5th will be given a dividend of $0.165 per share. The ex-dividend date is Wednesday, November 5th. This represents a $0.66 dividend on an annualized basis and a yield of 1.3%. This is a boost from EQT’s previous quarterly dividend of $0.16. EQT’s dividend payout ratio (DPR) is 21.58%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on EQT shares. Barclays dropped their price target on EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. UBS Group raised their price target on EQT from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Wells Fargo & Company dropped their price target on EQT from $68.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, October 23rd. Piper Sandler raised their price target on EQT from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Finally, Citigroup raised their price target on EQT from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Eighteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.52.

Insider Buying and Selling

In related news, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total transaction of $219,594.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.65% of the company’s stock.

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.