Boothbay Fund Management LLC Raises Stock Position in EQT Corporation $EQT

Key Points

• Boothbay Fund Management LLC increased its stake in EQT Corporation by 12.7%, now holding 273,021 shares valued at approximately $14.6 million.
• Director Vicky A. Bailey and EVP Sarah Fenton recently sold shares of EQT, with Fenton's transaction reflecting a 48.33% decrease in her ownership position.
• Equities analysts maintain a positive outlook on EQT, with the current average rating being "Moderate Buy" and an average target price of $62.14.

Boothbay Fund Management LLC boosted its position in EQT Corporation (NYSE:EQT - Free Report) by 12.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,021 shares of the oil and gas producer's stock after purchasing an additional 30,786 shares during the period. EQT comprises 0.4% of Boothbay Fund Management LLC's investment portfolio, making the stock its 28th biggest position. Boothbay Fund Management LLC's holdings in EQT were worth $14,588,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of EQT by 2.1% in 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 buying an additional 1,509,054 shares in the last quarter. Northern Trust Corp grew its stake in EQT by 2.0% in the 1st quarter. Northern Trust Corp now owns 5,692,985 shares of the oil and gas producer's stock valued at $304,176,000 after acquiring an additional 113,716 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in EQT by 2.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,204,106 shares of the oil and gas producer's stock valued at $278,055,000 after acquiring an additional 110,249 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in EQT by 10.3% during the 1st quarter. Neuberger Berman Group LLC now owns 5,191,780 shares of the oil and gas producer's stock valued at $277,397,000 after acquiring an additional 484,671 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in EQT by 7.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,658,814 shares of the oil and gas producer's stock worth $251,017,000 after acquiring an additional 311,154 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Trading Up 0.1%

EQT traded up $0.03 during midday trading on Tuesday, hitting $50.79. The company's stock had a trading volume of 2,767,398 shares, compared to its average volume of 8,190,004. EQT Corporation has a 52-week low of $31.45 and a 52-week high of $61.02. The firm has a 50-day moving average price of $53.33 and a two-hundred day moving average price of $53.06. 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 firm has a market cap of $31.70 billion, a P/E ratio of 27.41, a PEG ratio of 0.41 and a beta of 0.58.

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 (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). EQT had a return on equity of 6.24% and a net margin of 15.87%.The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the business posted ($0.08) earnings per share. On average, research analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th were paid a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.2%. EQT's payout ratio is currently 34.05%.

Insiders Place Their Bets

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of the business's stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of the company's 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 represents a 48.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on EQT. Scotiabank increased their price target on shares of EQT from $66.00 to $68.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 13th. Barclays raised their price target on EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Melius assumed coverage on EQT in a research report on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price objective on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada lifted their price objective on EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, EQT currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.14.

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.