Aigen Investment Management LP Has $5.81 Million Position in EQT Corporation (NYSE:EQT)

Key Points

• Aigen Investment Management LP increased its stake in EQT Corporation by 203.6%, owning 108,720 shares worth approximately $5.81 million, which makes it the fourth largest position in their portfolio.
• Recent transactions reveal that a significant percentage of EQT's stock (90.81%) is held by institutional investors, with several hedge funds such as Larson Financial Group and Harbour Investments significantly boosting their holdings.
• The company reported a quarterly EPS of $0.45, missing the consensus estimate and revealing a net margin of 15.87%, alongside announcing a quarterly dividend of $0.1575 per share.

Aigen Investment Management LP grew its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 203.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,720 shares of the oil and gas producer's stock after purchasing an additional 72,912 shares during the quarter. EQT makes up approximately 0.9% of Aigen Investment Management LP's investment portfolio, making the stock its 4th largest position. Aigen Investment Management LP's holdings in EQT were worth $5,809,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Larson Financial Group LLC grew its holdings in EQT by 14.1% during the 1st quarter. Larson Financial Group LLC now owns 1,582 shares of the oil and gas producer's stock worth $85,000 after acquiring an additional 196 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in EQT by 2.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer's stock worth $416,000 after acquiring an additional 207 shares in the last quarter. Generali Investments Management Co LLC grew its holdings in EQT by 14.1% during the 1st quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer's stock worth $91,000 after acquiring an additional 211 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in EQT by 3.9% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer's stock worth $309,000 after acquiring an additional 219 shares in the last quarter. Finally, Harbour Investments Inc. lifted its position in shares of 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 last quarter. 90.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total transaction of $219,594.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of the firm'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 sale, the executive vice president directly owned 13,297 shares in the company, valued at $690,646.18. The trade was 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.

Analysts Set New Price Targets

Several research firms have commented on EQT. Piper Sandler increased their price target on shares of EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Roth Capital began coverage on shares of EQT in a research report on Tuesday, June 24th. They set a "buy" rating and a $69.00 price target for the company. Morgan Stanley reissued an "overweight" rating on shares of EQT in a research report on Tuesday, July 15th. Royal Bank Of Canada increased their price target on shares of EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 8th. Finally, Barclays increased their price target on shares of EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $60.84.

EQT Price Performance

Shares of NYSE:EQT opened at $51.29 on Friday. EQT Corporation has a twelve month low of $30.59 and a twelve month high of $61.02. The company's 50 day moving average is $55.70 and its 200 day moving average is $53.13. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The company has a market cap of $32.01 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 0.36 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 return on equity of 6.24% and a net margin of 15.87%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the company posted ($0.08) EPS. On average, sell-side analysts forecast that EQT Corporation will post 3.27 EPS for the current year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be paid a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.2%. 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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