West Family Investments Inc. Purchases New Holdings in EQT Corporation $EQT

West Family Investments Inc. bought a new stake in shares of EQT Corporation (NYSE:EQT) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 103,619 shares of the oil and gas producer’s stock, valued at approximately $60,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Parallel Advisors LLC raised its stake in EQT by 1.0% during the fourth quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer’s stock valued at $1,022,000 after buying an additional 198 shares during the last quarter. Root Financial Partners LLC grew its stake in shares of EQT by 35.4% in the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after acquiring an additional 202 shares during the last quarter. Rothschild Investment LLC grew its stake in shares of EQT by 0.5% in the fourth quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer’s stock worth $2,497,000 after acquiring an additional 215 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of EQT by 4.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer’s stock valued at $392,000 after acquiring an additional 236 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its holdings in shares of EQT by 4.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 11,813 shares of the oil and gas producer’s stock valued at $633,000 after acquiring an additional 456 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Insider Transactions at EQT

In related news, CEO Toby Z. Rice sold 175,328 shares of the firm’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 completion of the transaction, the chief executive officer directly owned 2,157,865 shares of the company’s stock, valued at approximately $118,747,310.95. This trade represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 274,042 shares of company stock worth $15,005,076. Company insiders own 0.72% of the company’s stock.

EQT Stock Performance

Shares of NYSE EQT opened at $53.74 on Friday. EQT Corporation has a 12-month low of $47.94 and a 12-month high of $68.24. The firm has a market capitalization of $33.62 billion, a price-to-earnings ratio of 12.47 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average of $51.99 and a 200 day moving average of $56.45.

EQT (NYSE:EQT) last released its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. EQT’s revenue for the quarter was down 29.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 earnings per share. On average, research analysts anticipate that EQT Corporation will post 3.97 earnings per share for the current year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. EQT’s dividend payout ratio (DPR) is 15.31%.

Wall Street Analysts Forecast Growth

EQT has been the subject of several recent analyst reports. Freedom Capital raised shares of EQT to a “strong-buy” rating in a report on Tuesday, June 30th. Morgan Stanley cut their price target on shares of EQT from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday. Truist Financial reduced their price target 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. BMO Capital Markets decreased their price objective on shares of EQT from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, Citigroup lowered their price objective on EQT from $70.00 to $67.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.10.

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.