Atalanta Sosnoff Capital LLC Takes Position in EQT Corporation $EQT

Key Points

• Atalanta Sosnoff Capital LLC has acquired 924,432 shares of EQT Corporation, valued at approximately $49.4 million, making it 1.2% of their total holdings.
• Several hedge funds have increased their stakes in EQT, including Alden Global Capital LLC with a 171.5% boost, and MAI Capital Management with a 59.1% increase in their positions during the 1st quarter.
• Analysts have varied opinions on EQT’s future performance, with target prices ranging from $57.00 to $68.00, indicating a consensus rating of "Moderate Buy".

Atalanta Sosnoff Capital LLC acquired a new stake in shares of EQT Corporation (NYSE:EQT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 924,432 shares of the oil and gas producer's stock, valued at approximately $49,392,000. EQT makes up about 1.2% of Atalanta Sosnoff Capital LLC's portfolio, making the stock its 29th biggest position. Atalanta Sosnoff Capital LLC owned approximately 0.15% of EQT at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new position in EQT during the first quarter worth $35,000. Harbour Investments Inc. increased 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 worth $37,000 after acquiring an additional 226 shares during the period. University of Texas Texas AM Investment Management Co. increased 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 worth $44,000 after acquiring an additional 310 shares during the period. Mascagni Wealth Management Inc. bought a new position in EQT during the fourth quarter worth $55,000. Finally, Colonial Trust Co SC increased its position in EQT by 255.5% during the fourth quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock worth $66,000 after acquiring an additional 1,022 shares during the period. Institutional investors own 90.81% of the company's stock.

Insider Activity

In other news, EVP Sarah Fenton sold 12,438 shares of the company's 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 of the company's stock, valued at $690,646.18. This represents a 48.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Vicky A. Bailey sold 4,259 shares of the stock in a transaction that occurred on 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.

EQT Price Performance

Shares of EQT stock traded down $0.29 during trading on Friday, reaching $51.51. The company's stock had a trading volume of 4,959,537 shares, compared to its average volume of 6,322,149. The stock has a 50-day moving average price of $53.48 and a two-hundred day moving average price of $53.05. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. EQT Corporation has a one year low of $31.45 and a one year high of $61.02. The stock has a market capitalization of $32.14 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 0.41 and a beta of 0.58.

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

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th were issued 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 currently 34.05%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 8th. Barclays lifted their price target on shares of EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Jefferies Financial Group reiterated a "buy" rating and set a $70.00 price target (up previously from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Morgan Stanley reiterated an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. Finally, Melius assumed coverage on shares of EQT in a research note on Wednesday, August 20th. They set a "buy" rating and a $64.00 price target on the stock. Fifteen equities 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's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $62.14.

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.