Belpointe Asset Management LLC Invests $280,000 in EQT Corporation $EQT

Key Points

• Belpointe Asset Management LLC acquired 5,244 shares of EQT Corporation, valued at approximately $280,000, during the first quarter, marking a new stake in the company.
• EQT Corporation's stock declined by 1.8% recently, with shares trading at $50.04, while the company had a 52-week low of $32.88 and a high of $61.02.
• Recently, EQT announced a quarterly dividend of $0.1575, with an annualized yield of 1.3%, indicating a dividend payout ratio of 34.05%.

Belpointe Asset Management LLC acquired a new position in shares of EQT Corporation (NYSE:EQT - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,244 shares of the oil and gas producer's stock, valued at approximately $280,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zions Bancorporation National Association UT bought a new stake in shares of EQT during the first quarter valued at approximately $35,000. Harbour Investments Inc. raised its stake in EQT by 48.4% in the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock worth $37,000 after buying an additional 226 shares in the last quarter. University of Texas Texas AM Investment Management Co. raised its position in EQT by 47.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock valued at $44,000 after acquiring an additional 310 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in EQT during the fourth quarter worth about $55,000. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of EQT by 197.4% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 1,383 shares of the oil and gas producer's stock worth $73,000 after acquiring an additional 918 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Scotiabank increased their target price on shares of EQT from $66.00 to $68.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 13th. Barclays boosted their price target on EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada increased their target price on shares of EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 8th. UBS Group lifted their target price on EQT from $64.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Finally, Mizuho reduced their price objective on shares of EQT from $66.00 to $60.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, EQT presently has an average rating of "Moderate Buy" and an average price target of $61.86.

Insider Activity at EQT

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of EQT 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $690,646.18. This trade represents a 48.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.65% of the company's stock.

EQT Trading Down 0.5%

EQT stock traded down $0.25 during mid-day trading on Friday, hitting $49.14. 26,609,732 shares of the stock were exchanged, compared to its average volume of 6,298,283. The stock has a market capitalization of $30.67 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 0.40 and a beta of 0.58. The firm's fifty day simple moving average is $52.40 and its two-hundred day simple moving average is $53.09. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. EQT Corporation has a 12 month low of $34.01 and a 12 month high of $61.02.

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 company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same period last year, the firm posted ($0.08) EPS. Analysts forecast that EQT Corporation will post 3.27 EPS for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th were issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Wednesday, August 6th. EQT's 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.