Aristeia Capital L.L.C. Invests $447,000 in EQT Corporation $EQT

Key Points

• Aristeia Capital L.L.C. has acquired a new stake in EQT Corporation valued at approximately $447,000, purchasing 8,364 shares in the first quarter, as per a recent 13F filing.
• Multiple institutional investors have also increased their positions in EQT, bringing the total institutional ownership to 90.81%.
• Analysts have set new price targets for EQT, with Jefferies Financial Group raising their target to $70.00, while the average consensus price target stands at $62.14.

Aristeia Capital L.L.C. bought a new position in shares of EQT Corporation (NYSE:EQT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 8,364 shares of the oil and gas producer's stock, valued at approximately $447,000.

Several other hedge funds have also recently bought and sold shares of the company. Caxton Associates LLP acquired a new position in EQT during the 1st quarter worth about $256,000. Sciencast Management LP grew its stake in shares of EQT by 17.3% in the 1st quarter. Sciencast Management LP now owns 68,374 shares of the oil and gas producer's stock valued at $3,653,000 after purchasing an additional 10,087 shares during the last quarter. First Dallas Securities Inc. purchased a new position in shares of EQT in the 1st quarter valued at approximately $232,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of EQT in the first quarter valued at approximately $1,957,000. Finally, Teza Capital Management LLC purchased a new stake in shares of EQT in the first quarter valued at approximately $718,000. Institutional investors and hedge funds own 90.81% of the company's stock.

Insider Transactions at EQT

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was 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 available at this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the sale, the executive vice president 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. Corporate insiders own 0.65% of the company's stock.

Analyst Upgrades and Downgrades

EQT has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their price target on EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 8th. Morgan Stanley restated an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. Roth Capital downgraded EQT from a "strong-buy" rating to a "neutral" rating and decreased their price target for the company from $75.00 to $57.00 in a research note on Monday, August 18th. 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. Finally, Bank of America lifted their price objective on EQT from $63.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, EQT currently has an average rating of "Moderate Buy" and an average target price of $62.14.

EQT Trading Down 0.0%

EQT stock traded down $0.02 during trading on Friday, reaching $50.94. 4,746,454 shares of the stock traded hands, compared to its average volume of 6,170,850. EQT Corporation has a 52-week low of $32.83 and a 52-week high of $61.02. The business's 50 day moving average price is $52.94 and its 200-day moving average price is $53.05. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $31.79 billion, a PE ratio of 27.54, a P/E/G ratio of 0.42 and a beta of 0.58.

EQT (NYSE:EQT - Get Free Report) last issued its 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 company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same period in the previous year, the company earned ($0.08) EPS. As a group, sell-side analysts forecast that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.2%. EQT's dividend payout ratio is currently 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.