Ameriprise Financial Inc. Has $123.09 Million Stock Position in EQT Corporation $EQT

Key Points

• Ameriprise Financial Inc. increased its holdings in EQT Corporation by 11.3%, owning approximately $123.09 million, following the acquisition of an additional 232,982 shares.
• EQT Corporation recently announced a quarterly dividend of $0.1575 per share, translating to an annualized dividend yield of 1.2%, with a payout ratio of 34.05%.
• Analysts show a consensus rating of Moderate Buy for EQT stock, with an average price target increase to $62.14 following several recent research updates.

Ameriprise Financial Inc. increased its position in shares of EQT Corporation (NYSE:EQT - Free Report) by 11.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,303,683 shares of the oil and gas producer's stock after buying an additional 232,982 shares during the period. Ameriprise Financial Inc. owned 0.38% of EQT worth $123,086,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of EQT. Stifel Financial Corp grew its holdings in shares of EQT by 5.8% during the fourth quarter. Stifel Financial Corp now owns 321,518 shares of the oil and gas producer's stock worth $14,825,000 after buying an additional 17,737 shares in the last quarter. IHT Wealth Management LLC acquired a new position in EQT during the fourth quarter worth approximately $207,000. MGO One Seven LLC increased its holdings in shares of EQT by 144.2% in the fourth quarter. MGO One Seven LLC now owns 19,249 shares of the oil and gas producer's stock valued at $888,000 after purchasing an additional 11,367 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of EQT by 2.2% in the fourth quarter. Integrated Wealth Concepts LLC now owns 16,945 shares of the oil and gas producer's stock valued at $781,000 after buying an additional 363 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new position in EQT in the 4th quarter valued at approximately $420,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Stock Down 0.9%

Shares of EQT stock traded down $0.49 on Friday, hitting $51.87. The stock had a trading volume of 3,380,303 shares, compared to its average volume of 8,267,686. The stock's 50 day moving average is $54.36 and its 200-day moving average is $53.12. The firm has a market capitalization of $32.37 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 0.40 and a beta of 0.59. EQT Corporation has a 52-week low of $31.45 and a 52-week high of $61.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share 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 analysts' expectations of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same period in the previous year, the company earned ($0.08) earnings per share. As a group, research analysts expect 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 yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT's dividend payout ratio (DPR) is currently 34.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Scotiabank upped their price objective on EQT from $66.00 to $68.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 13th. Piper Sandler boosted their target price on shares of EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Roth Capital cut shares of EQT from a "strong-buy" rating to a "neutral" rating and decreased their price target for the stock from $75.00 to $57.00 in a research note on Monday, August 18th. UBS Group raised their target price on shares of EQT from $64.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Finally, Wells Fargo & Company increased their price target on EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, EQT has a consensus rating of "Moderate Buy" and an average price target of $62.14.

Insider Activity

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction on Wednesday, August 6th. The shares were 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 Securities & Exchange Commission, which is accessible through this link. Also, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction 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. This trade represents a 48.33% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.

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.