APG Asset Management N.V. Sells 20,018 Shares of EQT Corporation $EQT

Key Points

• APG Asset Management N.V. reduced its holdings in EQT Corporation by 27.1%, selling 20,018 shares and owning 53,818 shares valued at approximately $2.66 million.
• Several institutional investors, including Larson Financial Group and Harbour Investments, have increased their stakes in EQT, contributing to institutional ownership of around 90.81%.
• EQT's recent earnings report indicated an EPS of $0.45, missing estimates, and the company announced a quarterly dividend of $0.1575 per share, providing a yield of 1.2%.

APG Asset Management N.V. lowered its position in shares of EQT Corporation (NYSE:EQT - Free Report) by 27.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,818 shares of the oil and gas producer's stock after selling 20,018 shares during the period. APG Asset Management N.V.'s holdings in EQT were worth $2,662,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in EQT by 35.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,751 shares of the oil and gas producer's stock worth $199,000 after purchasing an additional 990 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in EQT by 471.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 65,700 shares of the oil and gas producer's stock worth $3,510,000 after purchasing an additional 54,194 shares during the period. AlphaQuest LLC bought a new stake in EQT in the 1st quarter worth approximately $805,000. Kestra Advisory Services LLC grew its position in EQT by 16.5% in the 1st quarter. Kestra Advisory Services LLC now owns 58,512 shares of the oil and gas producer's stock worth $3,126,000 after purchasing an additional 8,278 shares during the period. Finally, Allstate Corp grew its position in EQT by 32.9% in the 1st quarter. Allstate Corp now owns 22,427 shares of the oil and gas producer's stock worth $1,198,000 after purchasing an additional 5,548 shares during the period. Institutional investors own 90.81% of the company's stock.

Insider Buying and Selling at EQT

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of the business's 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 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 business's stock in a transaction 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 completion of the sale, the executive vice president 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. 0.65% of the stock is owned by insiders.

EQT Price Performance

Shares of EQT traded down $0.47 during trading hours on Friday, reaching $51.90. 6,310,318 shares of the stock traded hands, compared to its average volume of 6,570,194. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. EQT Corporation has a 52-week low of $31.45 and a 52-week high of $61.02. The company's 50-day moving average price is $54.19 and its two-hundred day moving average price is $53.11. The company has a market cap of $32.39 billion, a P/E ratio of 28.05, a price-to-earnings-growth ratio of 0.40 and a beta of 0.59.

EQT (NYSE:EQT - Get Free Report) last released its earnings results 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 for 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 quarter last year, the firm posted ($0.08) EPS. On average, analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be paid a $0.1575 dividend. The ex-dividend date is Wednesday, August 6th. This represents a $0.63 annualized dividend and a yield of 1.2%. EQT's payout ratio is presently 34.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on EQT shares. Roth Capital downgraded shares of EQT from a "strong-buy" rating to a "neutral" rating and cut their target price for the stock from $75.00 to $57.00 in a research report on Monday, August 18th. Jefferies Financial Group reiterated a "buy" rating and set a $70.00 price target (up previously from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Bank of America lifted their price target on shares of EQT from $63.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Barclays lifted their price target on shares of EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Morgan Stanley reiterated an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, EQT currently has an average rating of "Moderate Buy" and an average price target of $62.14.

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.