Algert Global LLC Acquires Shares of 33,133 EQT Corporation $EQT

Key Points

• Algert Global LLC has acquired 33,133 shares of EQT Corporation, valued at approximately $1.77 million, marking a significant new investment in the company by the institutional investor.
• Brokerages have mixed views on EQT, with Melius Research assigning a "buy" rating and a target price of $64, while Roth Capital downgraded the stock from "strong-buy" to "neutral" and reduced its target to $57.
• EQT recently announced a quarterly dividend of $0.1575, reflecting an annualized yield of 1.2%, with the next payment scheduled for September 2nd.

Algert Global LLC bought a new position in EQT Corporation (NYSE:EQT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 33,133 shares of the oil and gas producer's stock, valued at approximately $1,770,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EQT. Raymond James Financial Inc. increased its holdings in EQT by 3.3% in the 1st quarter. Raymond James Financial Inc. now owns 2,552,699 shares of the oil and gas producer's stock worth $136,391,000 after buying an additional 81,999 shares in the last quarter. Philadelphia Trust Co. raised its holdings in shares of EQT by 665.8% during the first quarter. Philadelphia Trust Co. now owns 54,371 shares of the oil and gas producer's stock valued at $2,905,000 after purchasing an additional 47,271 shares during the last quarter. Cresset Asset Management LLC lifted its position in EQT by 15.9% during the first quarter. Cresset Asset Management LLC now owns 20,589 shares of the oil and gas producer's stock valued at $1,100,000 after purchasing an additional 2,828 shares during the period. RR Advisors LLC lifted its position in EQT by 4.5% during the first quarter. RR Advisors LLC now owns 115,000 shares of the oil and gas producer's stock valued at $6,167,000 after purchasing an additional 5,000 shares during the period. Finally, United Capital Management of KS Inc. purchased a new stake in EQT in the first quarter worth approximately $427,000. 90.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on EQT. Piper Sandler lifted their price objective on EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Jefferies Financial Group restated a "buy" rating and set a $70.00 price target (up from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Melius started coverage on shares of EQT in a research note on Wednesday. They issued a "buy" rating and a $64.00 price objective on the stock. Bank of America boosted their target price on shares of EQT from $63.00 to $80.00 and gave the company a "buy" rating in a research report on Friday. Finally, Wells Fargo & Company increased their price target on shares of EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $62.14.

Insider Transactions at EQT

In related news, Director Vicky A. Bailey sold 4,259 shares of the business's 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sarah Fenton sold 12,438 shares of EQT stock in a transaction that occurred on 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. The trade was a 48.33% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.65% of the company's stock.

EQT Price Performance

NYSE:EQT traded down $0.1340 on Friday, reaching $51.9160. 4,768,066 shares of the company's stock traded hands, compared to its average volume of 7,190,374. The stock has a 50-day simple moving average of $54.91 and a 200-day simple moving average of $53.14. EQT Corporation has a 12 month low of $31.45 and a 12 month high of $61.02. The firm has a market cap of $32.40 billion, a PE ratio of 21.30, a P/E/G ratio of 0.38 and a beta of 0.59. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32.

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

EQT Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT's dividend 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.