OMERS ADMINISTRATION Corp Makes New Investment in EQT Corporation $EQT

OMERS ADMINISTRATION Corp bought a new stake in EQT Corporation (NYSE:EQT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 70,410 shares of the oil and gas producer’s stock, valued at approximately $3,744,000.

A number of other institutional investors have also recently made changes to their positions in EQT. Greykasell Wealth Strategies Inc. acquired a new position in EQT in the 4th quarter valued at $26,000. Meeder Asset Management Inc. purchased a new position in EQT in the 2nd quarter valued at $26,000. Gables Capital Management Inc. acquired a new stake in EQT during the 2nd quarter worth $37,000. Elyxium Wealth LLC acquired a new stake in EQT during the 4th quarter worth $49,000. Finally, Root Financial Partners LLC grew its holdings in shares of EQT by 35.4% during the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after buying an additional 202 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Toby Z. Rice sold 175,328 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $55.03, for a total value of $9,648,299.84. Following the transaction, the chief executive officer owned 2,157,865 shares of the company’s stock, valued at $118,747,310.95. This represents a 7.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 274,042 shares of company stock valued at $15,005,076 in the last quarter. 0.72% of the stock is owned by insiders.

EQT Price Performance

Shares of EQT stock opened at $54.00 on Wednesday. The firm’s 50-day moving average is $52.10 and its two-hundred day moving average is $56.44. EQT Corporation has a 12 month low of $47.94 and a 12 month high of $68.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $33.78 billion, a PE ratio of 12.53 and a beta of 0.58.

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 return on equity of 9.31% and a net margin of 28.44%.The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the business earned $0.45 EPS. The firm’s quarterly revenue was down 29.2% on a year-over-year basis. Analysts predict that EQT Corporation will post 3.97 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th will be given 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 payout ratio is currently 15.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Truist Financial reduced their target price on shares of EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Morgan Stanley dropped their price objective on shares of EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Wednesday, August 19th. Stephens increased their price objective on shares of EQT from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. BMO Capital Markets decreased their target price on shares of EQT from $76.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of EQT in a report on Thursday, July 30th. Two equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.10.

About EQT

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.