Alyeska Investment Group L.P. Invests $41.04 Million in EQT Corporation $EQT

Key Points

• Alyeska Investment Group acquired 771,928 shares of EQT worth approximately $41.04 million, giving it a 0.12% stake. Institutional investors and hedge funds collectively own 90.81% of EQT.
• EQT’s CEO Toby Z. Rice sold 175,328 shares for roughly $9.65 million under a pre-arranged Rule 10b5-1 plan; insiders have sold about $15.0 million in shares over the past 90 days.
• Analysts maintain a generally positive outlook, with EQT carrying a “Moderate Buy” consensus rating and an average price target of $68.10, despite the company missing quarterly earnings and revenue estimates.

Alyeska Investment Group L.P. acquired a new stake in EQT Corporation (NYSE:EQT - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 771,928 shares of the oil and gas producer's stock, valued at approximately $41,043,000. Alyeska Investment Group L.P. owned about 0.12% of EQT at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Greykasell Wealth Strategies Inc. purchased a new stake in EQT in the 4th quarter valued at approximately $26,000. Meeder Asset Management Inc. purchased a new stake in shares of EQT in the second quarter valued at approximately $26,000. Wedbush Fund Advisers LLC boosted its stake in shares of EQT by 251.8% in the second quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer's stock valued at $31,000 after buying an additional 413 shares in the last quarter. Gables Capital Management Inc. acquired a new position in EQT during the second quarter worth $37,000. Finally, Root Financial Partners LLC grew its holdings in EQT by 35.4% during the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer's stock worth $49,000 after acquiring an additional 202 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at EQT

In other news, CEO Toby Z. Rice sold 175,328 shares of the business's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the transaction, the chief executive officer directly owned 2,157,865 shares of the company's stock, valued at $118,747,310.95. The trade was a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 274,042 shares of company stock valued at $15,005,076. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Jefferies Financial Group reduced their target price on EQT from $77.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, July 1st. Freedom Capital upgraded shares of EQT to a "strong-buy" rating in a report on Tuesday, June 30th. Wall Street Zen cut shares of EQT from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Morgan Stanley decreased their price objective on shares of EQT from $68.00 to $67.00 and set an "overweight" rating on the stock in a report on Wednesday, August 19th. Finally, Barclays lowered their target price on shares of EQT from $70.00 to $68.00 and set an "overweight" rating on the stock in a research report on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $68.10.

EQT Price Performance

EQT stock opened at $54.56 on Monday. EQT Corporation has a 52 week low of $47.94 and a 52 week high of $68.24. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. The firm's 50-day simple moving average is $52.33 and its 200 day simple moving average is $56.41. The firm has a market capitalization of $34.13 billion, a PE ratio of 12.66 and a beta of 0.58.

EQT (NYSE:EQT - Get Free Report) last posted its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. The business's revenue was down 29.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 earnings per share. On average, equities research analysts predict that EQT Corporation will post 3.96 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, August 5th. EQT's payout ratio is currently 15.31%.

EQT Company Profile

EQT Corporation NYSE: EQT is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT's primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

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