PDT Partners LLC Invests $2.17 Million in EQT Corporation $EQT

Key Points

• PDT Partners LLC acquired a new stake in EQT Corporation, purchasing 40,600 shares valued at approximately $2.17 million during the first quarter.
• EQT Corporation recently announced a quarterly dividend of $0.1575 per share, with an annualized yield of 1.2% and a payout ratio of 34.05%.
• Fifteen investment analysts have rated EQT with a Buy rating, leading to a consensus price target of $62.14 for the stock.

PDT Partners LLC acquired a new position in EQT Corporation (NYSE:EQT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 40,600 shares of the oil and gas producer's stock, valued at approximately $2,169,000.

A number of other large investors have also recently made changes to their positions in the stock. Focus Partners Advisor Solutions LLC raised its holdings in shares of EQT by 74.4% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 16,283 shares of the oil and gas producer's stock worth $870,000 after acquiring an additional 6,946 shares in the last quarter. MAI Capital Management lifted its stake in EQT by 59.1% in the first quarter. MAI Capital Management now owns 4,041 shares of the oil and gas producer's stock worth $216,000 after acquiring an additional 1,501 shares during the period. Baird Financial Group Inc. lifted its stake in EQT by 381.3% in the first quarter. Baird Financial Group Inc. now owns 88,634 shares of the oil and gas producer's stock worth $4,736,000 after acquiring an additional 70,218 shares during the period. Pinnacle Wealth Planning Services Inc. purchased a new position in EQT in the first quarter valued at about $337,000. Finally, Vident Advisory LLC grew its stake in EQT by 41.9% in the first quarter. Vident Advisory LLC now owns 42,586 shares of the oil and gas producer's stock valued at $2,276,000 after purchasing an additional 12,572 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other EQT news, EVP Sarah Fenton sold 12,438 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 13,297 shares of the company's stock, valued at $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of EQT 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 disclosure for this sale can be found here. Insiders own 0.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EQT shares. Mizuho upgraded shares of EQT to an "outperform" rating and set a $66.00 price objective on the stock in a report on Tuesday, July 8th. Wells Fargo & Company raised their price objective on EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. UBS Group lifted their target price on EQT from $64.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Melius assumed coverage on EQT in a research report on Wednesday, August 20th. They set a "buy" rating and a $64.00 price objective for the company. Finally, Piper Sandler lifted their price target on EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $62.14.

EQT Stock Down 0.6%

Shares of EQT stock traded down $0.29 on Friday, hitting $51.51. 4,959,537 shares of the company's stock traded hands, compared to its average volume of 6,322,149. The stock has a market cap of $32.14 billion, a P/E ratio of 27.84, a PEG ratio of 0.41 and a beta of 0.58. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. The firm's 50-day moving average is $53.48 and its 200 day moving average is $53.05. EQT Corporation has a 52-week low of $31.45 and a 52-week high of $61.02.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings results 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). EQT had a return on equity of 6.24% and a net margin of 15.87%.The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the business posted ($0.08) EPS. Equities analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th were paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 6th. EQT's payout ratio is 34.05%.

About EQT

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.