Flat Footed LLC Makes New Investment in EQT Corporation $EQT

Flat Footed LLC purchased a new position in EQT Corporation (NYSE:EQT - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 145,000 shares of the oil and gas producer's stock, valued at approximately $7,709,650. EQT comprises approximately 0.0% of Flat Footed LLC's portfolio, making the stock its 11th largest position.

A number of other institutional investors also recently bought and sold shares of EQT. Parallel Advisors LLC raised its position in shares of EQT by 1.0% during the 4th quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer's stock worth $1,022,000 after purchasing an additional 198 shares during the last quarter. Root Financial Partners LLC boosted its stake in shares of EQT by 35.4% during the 1st 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 in the last quarter. Rothschild Investment LLC raised its position in 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 purchasing an additional 215 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of EQT by 4.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer's stock valued at $392,000 after purchasing an additional 236 shares during the period. Finally, Wedbush Fund Advisers LLC increased its position in shares of EQT by 251.8% during 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. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Price Performance

EQT stock traded down $0.21 during trading on Friday, reaching $54.56. 2,753,797 shares of the company were exchanged, compared to its average volume of 8,374,096. EQT Corporation has a twelve month low of $47.94 and a twelve 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 50-day moving average of $52.25 and a two-hundred day moving average of $56.42. The company has a market capitalization of $34.13 billion, a price-to-earnings ratio of 12.66 and a beta of 0.58.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The business's quarterly revenue was down 29.2% compared to the same quarter last year. As a group, equities analysts predict that EQT Corporation will post 3.97 earnings per share for the current fiscal year.

EQT Dividend Announcement

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

Analyst Ratings Changes

EQT has been the topic of a number of recent research reports. Sanford C. Bernstein reiterated an "outperform" rating on shares of EQT in a report on Thursday, July 30th. JPMorgan Chase & Co. lowered their price objective on EQT from $72.00 to $68.00 and set an "overweight" rating for the company in a research note on Tuesday, June 23rd. UBS Group reduced their target price on shares of EQT from $74.00 to $73.00 and set a "buy" rating for the company in a report on Wednesday, July 8th. Freedom Capital raised shares of EQT to a "strong-buy" rating in a research report on Tuesday, June 30th. Finally, Stephens upped their price target on EQT from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $68.10.

Insider Activity at EQT

In related 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 transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 274,042 shares of company stock valued at $15,005,076. Corporate insiders own 0.72% of the company's stock.

EQT Company 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.

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