36,620 Shares in EQT Corporation $EQT Purchased by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd purchased 36,620 shares of EQT Corporation, valued at approximately $1,957,000, in the first quarter, indicating increased institutional investment in the company.
• EQT Corporation reported missed earnings with $0.45 EPS for the last quarter, below the consensus estimate of $0.52, and a revenue of $1.60 billion against an expected $1.78 billion.
• The company declared a quarterly dividend of $0.1575, translating to an annualized yield of 1.2%, with a current dividend payout ratio of 34.05%.

Dynamic Technology Lab Private Ltd bought a new stake in EQT Corporation (NYSE:EQT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,620 shares of the oil and gas producer's stock, valued at approximately $1,957,000.

A number of other large investors have also modified their holdings of EQT. Benjamin Edwards Inc. raised its stake in shares of EQT by 25.4% in the fourth quarter. Benjamin Edwards Inc. now owns 8,492 shares of the oil and gas producer's stock valued at $392,000 after purchasing an additional 1,718 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of EQT in the fourth quarter valued at $125,000. Captrust Financial Advisors raised its stake in shares of EQT by 41.5% in the fourth quarter. Captrust Financial Advisors now owns 12,766 shares of the oil and gas producer's stock valued at $589,000 after purchasing an additional 3,746 shares in the last quarter. Crestline Management LP acquired a new position in shares of EQT in the fourth quarter valued at $807,000. Finally, Colonial Trust Co SC boosted its stake in EQT by 255.5% in the 4th quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock valued at $66,000 after buying an additional 1,022 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Stock Down 0.6%

NYSE:EQT opened at $51.51 on Friday. The stock's fifty day moving average price is $53.48 and its two-hundred day moving average price is $53.05. EQT Corporation has a 52-week low of $31.45 and a 52-week high of $61.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $32.14 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 0.41 and a beta of 0.58.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same period in the prior year, the company posted ($0.08) EPS. On average, analysts anticipate that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th were issued a $0.1575 dividend. The ex-dividend date was Wednesday, August 6th. This represents a $0.63 annualized dividend and a yield of 1.2%. EQT's dividend payout ratio (DPR) is currently 34.05%.

Insider Activity

In related news, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sarah Fenton sold 12,438 shares of EQT stock in a transaction on Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction of $646,029.72. Following the sale, the executive vice president directly owned 13,297 shares of the company's stock, valued at $690,646.18. This represents a 48.33% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EQT. Jefferies Financial Group reaffirmed a "buy" rating and issued a $70.00 price target (up previously from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Melius initiated coverage on EQT in a research note on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price target on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of EQT in a report on Tuesday, July 15th. Piper Sandler raised their price target on EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Scotiabank raised their price target on EQT from $66.00 to $68.00 and gave the company a "sector perform" rating in a report on Wednesday, August 13th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $62.14.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.

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