EQT Corporation (NYSE:EQT) Holdings Reduced by Boston Partners

Key Points

• Boston Partners reduced its stake in EQT Corporation by 11.7%, selling 742,821 shares to own approximately 5.61 million shares valued at $299.87 million.
• Analysts have a consensus rating of "Moderate Buy" for EQT, with a target price averaging $60.84, as multiple firms maintain positive ratings on the stock.
• EQT recently reported earnings of $0.45 per share, missing estimates, with a quarterly revenue of $1.60 billion, below analysts' expectations of $1.78 billion.

Boston Partners decreased its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 11.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,613,655 shares of the oil and gas producer's stock after selling 742,821 shares during the quarter. Boston Partners owned about 0.94% of EQT worth $299,865,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new stake in shares of EQT in the 1st quarter worth $35,000. Harbour Investments Inc. grew its holdings in shares of 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 acquiring an additional 226 shares during the period. University of Texas Texas AM Investment Management Co. grew its holdings in shares of EQT by 47.7% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock worth $44,000 after acquiring an additional 310 shares during the period. Mascagni Wealth Management Inc. bought a new stake in shares of EQT in the fourth quarter worth $55,000. Finally, Colonial Trust Co SC grew its holdings in EQT by 255.5% during the fourth quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock valued at $66,000 after purchasing an additional 1,022 shares during the period. Hedge funds and other institutional investors own 90.81% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on EQT shares. Morgan Stanley restated an "overweight" rating on shares of EQT in a research report on Tuesday, July 15th. Royal Bank Of Canada increased 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. UBS Group reissued a "buy" rating on shares of EQT in a research note on Monday, July 14th. Wells Fargo & Company increased their price target on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Finally, Barclays raised their price objective on EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $60.95.

Insider Activity at EQT

In other news, EVP Sarah Fenton sold 12,438 shares of the business's stock in a transaction 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 sale, the executive vice president directly owned 13,297 shares of the company's stock, valued at $690,646.18. The trade was a 48.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total transaction of $219,594.04. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.

EQT Stock Performance

NYSE:EQT traded up $0.76 during mid-day trading on Friday, reaching $52.81. The stock had a trading volume of 10,048,095 shares, compared to its average volume of 9,111,218. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $32.96 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 0.36 and a beta of 0.59. EQT Corporation has a twelve month low of $31.42 and a twelve month high of $61.02. The business has a 50 day simple moving average of $55.28 and a 200 day simple moving average of $53.14.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data 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). EQT had a return on equity of 6.24% and a net margin of 15.87%. The business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same period last year, the business earned ($0.08) earnings per share. On average, analysts expect that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT's payout ratio is presently 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.