41,086 Shares in EQT Corporation $EQT Bought by Jump Financial LLC

Key Points

• Jump Financial LLC purchased 41,086 shares in EQT Corporation valued at approximately $2,195,000 during the first quarter.
• Several institutional investors increased their stakes in EQT, with Harbour Investments Inc. boosting its position by 48.4% during the same period.
• Q2 earnings report revealed that EQT missed earnings expectations, posting $0.45 per share against a projected $0.52.

Jump Financial LLC purchased a new position in EQT Corporation (NYSE:EQT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 41,086 shares of the oil and gas producer's stock, valued at approximately $2,195,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new position in EQT during the first quarter valued at $35,000. Harbour Investments Inc. lifted its position in EQT by 48.4% during the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock valued at $37,000 after buying an additional 226 shares during the period. University of Texas Texas AM Investment Management Co. lifted its position in EQT by 47.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock valued at $44,000 after buying an additional 310 shares during the period. Mascagni Wealth Management Inc. purchased a new position in EQT during the fourth quarter valued at $55,000. Finally, Hazlett Burt & Watson Inc. lifted its position in EQT by 197.4% during the first quarter. Hazlett Burt & Watson Inc. now owns 1,383 shares of the oil and gas producer's stock valued at $73,000 after buying an additional 918 shares during the period. Hedge funds and other institutional investors own 90.81% of the company's stock.

Insider Activity

In related news, EVP Sarah Fenton sold 12,438 shares of EQT stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $51.94, for a total value of $646,029.72. Following the completion of the sale, the executive vice president directly owned 13,297 shares in the company, valued at approximately $690,646.18. This trade represents a 48.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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. 0.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on EQT shares. Barclays raised their price objective on EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group raised their price objective on EQT from $64.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Scotiabank raised their price objective on EQT from $66.00 to $68.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 13th. Royal Bank Of Canada raised their price target on EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, July 8th. Finally, Melius Research started coverage on EQT in a report on Wednesday, August 20th. They set a "buy" rating and a $64.00 price target for the company. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, EQT has an average rating of "Moderate Buy" and a consensus price target of $62.14.

EQT Price Performance

Shares of NYSE:EQT opened at $51.38 on Thursday. EQT Corporation has a 1-year low of $31.45 and a 1-year high of $61.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day moving average price of $54.50 and a 200-day moving average price of $53.13. The company has a market capitalization of $32.06 billion, a PE ratio of 27.77, a PEG ratio of 0.41 and a beta of 0.59.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). EQT had a net margin of 15.87% and a return on equity of 6.24%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the business earned ($0.08) earnings per share. As a group, equities analysts expect that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

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

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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