Tidal Investments LLC Grows Holdings in EQT Corporation $EQT

Tidal Investments LLC lifted its stake in shares of EQT Corporation (NYSE:EQT) by 491.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,344,477 shares of the oil and gas producer’s stock after buying an additional 1,947,878 shares during the quarter. Tidal Investments LLC’s holdings in EQT were worth $124,656,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Greykasell Wealth Strategies Inc. bought a new position in EQT during the 4th quarter valued at $26,000. Meeder Asset Management Inc. acquired a new position in EQT during the 2nd quarter worth $26,000. Community Bank N.A. increased its position in shares of EQT by 198.9% in the 2nd quarter. Community Bank N.A. now owns 523 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 348 shares during the last quarter. Wedbush Fund Advisers LLC increased its position in shares of EQT by 251.8% in the 2nd quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 413 shares during the last quarter. Finally, Continuum Advisory LLC acquired a new stake in shares of EQT in the 2nd quarter valued at about $32,000. Institutional investors own 90.81% of the company’s stock.

Insider Transactions at EQT

In related news, CEO Toby Rice sold 175,328 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 2,157,865 shares in the company, valued at $118,747,310.95. The trade was a 7.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EQT has been the subject of a number of research reports. Truist Financial decreased their price target on EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. UBS Group cut their price objective on EQT from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. JPMorgan Chase & Co. reduced their target price on EQT from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday, June 23rd. Barclays decreased their target price on EQT from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Finally, The Goldman Sachs Group dropped their price target on EQT from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and a consensus price target of $68.00.

EQT Price Performance

Shares of NYSE:EQT opened at $54.61 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT Corporation has a fifty-two week low of $47.94 and a fifty-two week high of $68.24. The firm has a 50-day simple moving average of $52.82 and a 200 day simple moving average of $56.26. The company has a market cap of $34.16 billion, a PE ratio of 12.67 and a beta of 0.58.

EQT (NYSE:EQT) last issued its 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 business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the business earned $0.45 EPS. The business’s revenue was down 29.2% on a year-over-year basis. On average, sell-side analysts anticipate that EQT Corporation will post 3.96 EPS for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. EQT’s dividend payout ratio (DPR) is 15.31%.

EQT Profile

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company primarily develops and operates unconventional oil and gas properties in the Appalachian Basin, with a focus on natural gas production from the Marcellus and Utica shale formations.

EQT’s products include natural gas, natural gas liquids and condensate. Its operations span drilling, well completion, production and related gathering activities, supporting the delivery of energy to utilities, industrial customers, marketers and other buyers.