EQT Corporation (NYSE:EQT) Shares Bought by Assetmark Inc.

Key Points

• Assetmark Inc. boosted its stake in EQT Corporation by 40.3%, acquiring an additional 16,562 shares, bringing its total holdings to 57,673 shares valued at approximately $3.08 million.
• In the latest quarter, EQT reported earnings of $0.45 per share, missing analyst expectations of $0.52, with revenue totaling $1.60 billion compared to the estimated $1.78 billion.
• Multiple brokerages have upgraded EQT's ratings, with target prices ranging from $54.00 to $69.00, reflecting a consensus rating of "Moderate Buy" with an average target price of $60.84.

Assetmark Inc. raised its position in EQT Corporation (NYSE:EQT - Free Report) by 40.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,673 shares of the oil and gas producer's stock after acquiring an additional 16,562 shares during the quarter. Assetmark Inc.'s holdings in EQT were worth $3,081,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Cetera Investment Advisers boosted its position in shares of EQT by 5.5% during the 1st quarter. Cetera Investment Advisers now owns 100,429 shares of the oil and gas producer's stock worth $5,366,000 after purchasing an additional 5,234 shares in the last quarter. Avantax Advisory Services Inc. increased its position in EQT by 4.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 10,389 shares of the oil and gas producer's stock worth $555,000 after purchasing an additional 424 shares in the last quarter. Montgomery Investment Management Inc. acquired a new stake in EQT during the 1st quarter worth approximately $641,000. Journey Strategic Wealth LLC increased its position in EQT by 16.0% during the 1st quarter. Journey Strategic Wealth LLC now owns 5,916 shares of the oil and gas producer's stock worth $316,000 after purchasing an additional 814 shares in the last quarter. Finally, Ninepoint Partners LP boosted its holdings in EQT by 200.0% in the 1st quarter. Ninepoint Partners LP now owns 1,500,000 shares of the oil and gas producer's stock worth $80,145,000 after acquiring an additional 1,000,000 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Insider Buying and Selling at EQT

In related news, 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 transaction of $646,029.72. Following the completion of the transaction, the executive vice president owned 13,297 shares of the company's stock, valued at approximately $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

EQT Price Performance

EQT stock traded up $0.41 during mid-day trading on Wednesday, reaching $53.51. The company's stock had a trading volume of 10,011,394 shares, compared to its average volume of 9,661,232. The company's 50 day moving average is $56.25 and its two-hundred day moving average is $53.15. EQT Corporation has a fifty-two week low of $30.02 and a fifty-two week high of $61.02. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The stock has a market cap of $33.39 billion, a PE ratio of 28.92, a P/E/G ratio of 0.36 and a beta of 0.65.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). EQT had a net margin of 15.87% and a return on equity of 6.24%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Equities research analysts expect that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Wednesday, August 6th. EQT's dividend payout ratio is presently 34.05%.

Wall Street Analysts Forecast Growth

EQT has been the subject of several research analyst reports. Piper Sandler increased their target price on EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Roth Capital began coverage on EQT in a report on Tuesday, June 24th. They set a "buy" rating and a $69.00 price target on the stock. Wall Street Zen cut EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Scotiabank reiterated a "sector perform" rating and issued a $66.00 price target (up previously from $62.00) on shares of EQT in a research report on Friday, July 11th. Finally, UBS Group restated a "buy" rating on shares of EQT in a research report on Monday, July 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $60.84.

EQT 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.