EQT Corporation $EQT Stock Acquired by Quattro Financial Advisors LLC

Quattro Financial Advisors LLC grew its holdings in EQT Corporation (NYSE:EQT) by 45.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 32,005 shares of the oil and gas producer’s stock after buying an additional 9,930 shares during the period. Quattro Financial Advisors LLC’s holdings in EQT were worth $1,554,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in EQT. The Manufacturers Life Insurance Company acquired a new stake in shares of EQT in the 2nd quarter valued at approximately $163,705,000. Bank of America Corp DE grew its holdings in EQT by 7.2% during the second quarter. Bank of America Corp DE now owns 4,240,709 shares of the oil and gas producer’s stock worth $225,478,000 after acquiring an additional 284,244 shares during the period. QRG Capital Management Inc. grew its holdings in EQT by 156.2% during the second quarter. QRG Capital Management Inc. now owns 93,774 shares of the oil and gas producer’s stock worth $4,986,000 after acquiring an additional 57,179 shares during the period. Meiji Yasuda Asset Management Co Ltd. acquired a new position in EQT during the second quarter worth $1,264,000. Finally, EFG International AG acquired a new position in EQT during the second quarter worth $5,883,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Insiders Place Their Bets

In other EQT news, CEO Toby 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.72% of the company’s stock.

EQT Price Performance

Shares of NYSE:EQT opened at $52.42 on Friday. The business’s 50 day simple moving average is $52.93 and its 200-day simple moving average is $54.18. The firm has a market capitalization of $32.79 billion, a price-to-earnings ratio of 12.16 and a beta of 0.66. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67. EQT Corporation has a 12 month low of $47.94 and a 12 month high of $68.24.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%. The business’s revenue was down 29.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, equities analysts forecast that EQT Corporation will post 3.86 earnings per share for the current fiscal year.

EQT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 4th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.3%. This is a positive change from EQT’s previous quarterly dividend of $0.1650. The ex-dividend date of this dividend is Wednesday, November 4th. EQT’s dividend payout ratio is currently 15.31%.

EQT News Summary

Here are the key news stories impacting EQT this week:

• Positive Sentiment: EQT Corporation increased its quarterly dividend 3% to $0.17 per share, payable December 1 to shareholders of record November 4. The new annualized dividend is $0.68 per share, or roughly a 1.3% yield, providing a small positive signal on shareholder returns. EQT Increases Base Dividend
• Positive Sentiment: Mizuho maintained an “outperform” rating on EQT Corporation, despite reducing its price target from $72 to $68. The revised target still implies substantial potential upside from the current trading level. Mizuho EQT price target update
• Neutral Sentiment: Scotiabank initiated coverage with a “sector perform” rating and a $54 price target, suggesting limited near-term upside and a cautious view relative to the broader energy sector. Scotiabank initiates EQT coverage
• Neutral Sentiment: Reports that EQT is acquiring Stockbridge for $375 million and adding approximately $16.5 billion in assets under management concern EQT AB’s real-estate business, not EQT Corporation (NYSE: EQT). Similarly, the Kakaku.com and Cleanaway takeover reports relate to EQT AB and should not be treated as operating developments for the U.S. gas producer. EQT Stockbridge transaction
• Negative Sentiment: The Mizuho price-target reduction and Scotiabank’s neutral rating temper the bullish analyst outlook. EQT Corporation’s most recent reported quarter also missed consensus estimates for earnings and revenue, adding to investor caution.

Analysts Set New Price Targets

A number of research firms have commented on EQT. UBS Group reduced their target price on EQT from $77.00 to $76.00 and set a “buy” rating for the company in a report on Thursday. The Goldman Sachs Group decreased their target price on shares of EQT from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. JPMorgan Chase & Co. lowered their price target on shares of EQT from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 23rd. Stifel Nicolaus initiated coverage on shares of EQT in a report on Wednesday, September 9th. They issued a “buy” rating and a $66.00 price target for the company. Finally, Zacks Research upgraded shares of EQT from a “strong sell” rating to a “hold” rating in a report on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.64.

EQT Profile

EQT Corporation is a natural gas producer headquartered in Pittsburgh, Pennsylvania. The company explores for, develops, and produces natural gas, natural gas liquids, and crude oil, with its operations concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations.

In addition to its upstream production activities, EQT has interests in the midstream infrastructure used to gather, process, transport, and store natural gas. These assets support the movement of production from well sites to regional and interstate markets.