AE Wealth Management LLC Buys 7,798 Shares of EQT Corporation (NYSE:EQT)

Key Points

• AE Wealth Management LLC increased its stake in EQT Corporation by 33.4%, acquiring an additional 7,798 shares during the first quarter, bringing its total holdings to 31,124 shares valued at approximately $1.66 million.
• Recent upgrades from analysts include a change to a "buy" rating from TD Cowen, with a target price set at $54.00, while the average price target across analysts is $60.84.
• EQT Corporation has announced a quarterly dividend of $0.1575 per share, equating to an annualized yield of 1.21%, with the payout ratio standing at 34.05%.

AE Wealth Management LLC increased its position in shares of EQT Corporation (NYSE:EQT - Free Report) by 33.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,124 shares of the oil and gas producer's stock after acquiring an additional 7,798 shares during the quarter. AE Wealth Management LLC's holdings in EQT were worth $1,663,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of EQT. Kingsman Wealth Management Inc. acquired a new position in shares of EQT in the 1st quarter valued at $1,284,000. Teacher Retirement System of Texas acquired a new stake in shares of EQT during the fourth quarter worth about $244,000. Aviva PLC acquired a new position in shares of EQT in the 4th quarter valued at approximately $14,719,000. Axxcess Wealth Management LLC increased its position in shares of EQT by 7.0% during the first quarter. Axxcess Wealth Management LLC now owns 6,661 shares of the oil and gas producer's stock worth $356,000 after acquiring an additional 434 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in EQT during the 1st quarter worth about $226,000. Institutional investors and hedge funds own 90.81% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on EQT shares. TD Cowen upgraded shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 target price for the company in a report on Tuesday, April 8th. Scotiabank reaffirmed a "sector perform" rating and set a $66.00 price objective (up from $62.00) on shares of EQT in a research report on Friday, July 11th. Wells Fargo & Company increased their target price on EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. UBS Group restated a "buy" rating on shares of EQT in a research note on Monday, July 14th. Finally, Wall Street Zen cut shares of EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.84.

EQT Stock Performance

EQT stock opened at $52.22 on Friday. The business's 50-day moving average price is $56.38 and its two-hundred day moving average price is $53.10. EQT Corporation has a 12-month low of $30.02 and a 12-month high of $61.02. The company has a quick ratio of 0.57, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. The stock has a market cap of $32.59 billion, a PE ratio of 28.23, a P/E/G ratio of 0.36 and a beta of 0.65.

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

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT's payout ratio is 34.05%.

EQT 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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