Northwestern Mutual Wealth Management Co. Acquires New Shares in EQT Corporation $EQT

Northwestern Mutual Wealth Management Co. acquired a new position in shares of EQT Corporation (NYSE:EQT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 38,169 shares of the oil and gas producer’s stock, valued at approximately $2,029,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caxton Associates LLP bought a new position in EQT in the first quarter valued at about $256,000. Focus Partners Wealth grew its holdings in shares of EQT by 9.0% during the first quarter. Focus Partners Wealth now owns 21,637 shares of the oil and gas producer’s stock worth $1,156,000 after purchasing an additional 1,789 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of EQT by 495.2% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock worth $7,468,000 after purchasing an additional 106,545 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of EQT by 39.4% in the second quarter. Captrust Financial Advisors now owns 30,617 shares of the oil and gas producer’s stock valued at $1,786,000 after buying an additional 8,658 shares during the period. Finally, Horizon Investments LLC increased its stake in shares of EQT by 43.6% in the third quarter. Horizon Investments LLC now owns 85,502 shares of the oil and gas producer’s stock valued at $4,640,000 after buying an additional 25,971 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EQT shares. JPMorgan Chase & Co. dropped their price objective on shares of EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, June 23rd. Citigroup reduced their target price on shares of EQT from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. Jefferies Financial Group decreased their price target on shares of EQT from $77.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Truist Financial dropped their price target on shares of EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Finally, Freedom Capital upgraded shares of EQT to a “strong-buy” rating in a report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.10.

EQT Stock Up 0.1%

EQT stock opened at $53.76 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67. EQT Corporation has a 52-week low of $47.94 and a 52-week high of $68.24. The firm has a 50 day moving average price of $52.05 and a two-hundred day moving average price of $56.45. The firm has a market cap of $33.63 billion, a price-to-earnings ratio of 12.47 and a beta of 0.58.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). EQT had a net margin of 28.44% and a return on equity of 9.31%. The firm 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 company posted $0.45 earnings per share. The company’s revenue for the quarter was down 29.2% compared to the same quarter last year. Equities analysts predict that EQT Corporation will post 3.97 EPS for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be issued a $0.165 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $0.66 annualized dividend and a yield of 1.2%. EQT’s payout ratio is presently 15.31%.

Insider Transactions at EQT

In other EQT news, CEO Toby Z. Rice sold 175,328 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the sale, the chief executive officer owned 2,157,865 shares of the company’s stock, valued at approximately $118,747,310.95. This represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have 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 Profile

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.