Belpointe Asset Management LLC Takes Position 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 stake in shares of EQT Corporation (NYSE:EQT - Free Report) during the first quarter, according to the company in its most recent disclosure 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.

A number of other institutional investors also recently added to or reduced their stakes in EQT. Nuveen LLC bought a new stake in EQT during the first quarter valued at about $120,252,000. Vanguard Group Inc. boosted its position in EQT by 2.1% during the first quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer's stock valued at $3,955,922,000 after purchasing an additional 1,509,054 shares in the last quarter. Ninepoint Partners LP boosted its holdings in EQT by 200.0% in the first 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 in the last quarter. Situational Awareness LP acquired a new stake in EQT in the first quarter worth about $52,864,000. Finally, Atalanta Sosnoff Capital LLC purchased a new stake in shares of EQT during the first quarter worth about $49,392,000. Institutional investors own 90.81% of the company's stock.

EQT Stock Down 1.8%

Shares of NYSE:EQT opened at $50.04 on Tuesday. EQT Corporation has a 52-week low of $32.88 and a 52-week high of $61.02. The stock has a market cap of $31.23 billion, a P/E ratio of 27.05, a PEG ratio of 0.41 and a beta of 0.58. The business has a fifty day moving average of $52.82 and a two-hundred day moving average of $53.14. 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 (NYSE:EQT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing the consensus estimate 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 period last year, the company earned ($0.08) EPS. On average, research analysts expect that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th were given 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 1.3%. EQT's dividend payout ratio (DPR) is currently 34.05%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Melius assumed coverage on shares of EQT in a research report on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price objective for the company. Mizuho raised shares of EQT to an "outperform" rating and set a $66.00 price objective for the company in a research report on Tuesday, July 8th. Piper Sandler increased their price objective on shares of EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Morgan Stanley reaffirmed an "overweight" rating on shares of EQT in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada raised their price objective on EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 8th. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $62.14.

Insider Transactions at EQT

In other EQT news, 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 value of $646,029.72. Following the sale, the executive vice president owned 13,297 shares of the company's stock, valued at $690,646.18. This trade represents a 48.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Vicky A. Bailey sold 4,259 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.

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.

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