Chicago Partners Investment Group LLC Lowers Stock Position in EQT Corporation (NYSE:EQT)

Key Points

• Chicago Partners Investment Group LLC has reduced its holdings in EQT Corporation by 23.1%, selling 12,674 shares and now owning 42,142 shares valued at approximately $2.27 million.
• EQT reported $0.45 EPS in its recent quarterly earnings, missing the consensus estimate of $0.52, with revenues of $1.60 billion compared to expected $1.78 billion.
• Analysts have varying ratings on EQT, with the stock currently holding an average rating of "Moderate Buy" and a target price of $60.84.

Chicago Partners Investment Group LLC reduced its position in EQT Corporation (NYSE:EQT - Free Report) by 23.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,142 shares of the oil and gas producer's stock after selling 12,674 shares during the quarter. Chicago Partners Investment Group LLC's holdings in EQT were worth $2,274,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in EQT by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,204,106 shares of the oil and gas producer's stock worth $278,055,000 after buying an additional 110,249 shares during the last quarter. Vanguard Group Inc. raised its holdings 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 worth $3,955,922,000 after buying an additional 1,509,054 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in EQT by 529.4% during the first quarter. Westwood Holdings Group Inc. now owns 41,294 shares of the oil and gas producer's stock worth $2,206,000 after buying an additional 34,733 shares during the last quarter. Reaves W H & Co. Inc. acquired a new position in EQT during the first quarter worth $6,017,000. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in EQT by 16.5% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 2,579 shares of the oil and gas producer's stock worth $138,000 after buying an additional 365 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Price Performance

NYSE EQT traded up $0.05 on Friday, reaching $51.29. 4,540,206 shares of the company's stock traded hands, compared to its average volume of 9,659,581. EQT Corporation has a 12 month low of $30.59 and a 12 month high of $61.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a 50-day simple moving average of $55.70 and a 200 day simple moving average of $53.13. The stock has a market cap of $32.01 billion, a PE ratio of 27.72, a P/E/G ratio of 0.36 and a beta of 0.59.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the business earned ($0.08) earnings per share. As a group, research analysts predict that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be issued a $0.1575 dividend. The ex-dividend date is Wednesday, August 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.2%. EQT's dividend payout ratio (DPR) is currently 34.05%.

Wall Street Analyst Weigh In

Several research firms have weighed in on EQT. Barclays upped their price objective on shares of EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Piper Sandler increased their price target 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. Mizuho upgraded shares of EQT to an "outperform" rating and set a $66.00 target price for the company in a research report on Tuesday, July 8th. Morgan Stanley reiterated an "overweight" rating on shares of EQT in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada increased their target price on shares of EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, EQT presently has an average rating of "Moderate Buy" and an average target price of $60.84.

Insider Activity at EQT

In related news, 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 value of $219,594.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of EQT 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 owned 13,297 shares in the company, valued at approximately $690,646.18. This trade represents a 48.33% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.

EQT Company 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.