Cinctive Capital Management LP Invests $3.09 Million in EQT Corporation $EQT

Key Points

• Cinctive Capital Management LP acquired 57,849 shares of EQT Corporation valued at approximately $3,091,000 during the first quarter.
• The company received recent analyst upgrades; Wells Fargo & Company increased their price target from $59.00 to $63.00, while Barclays raised theirs from $65.00 to $68.00.
• EQT Corporation reported earnings per share (EPS) of $0.45 for the last quarter, missing analysts' expectations of $0.52, along with a revenue of $1.60 billion against a forecast of $1.78 billion.

Cinctive Capital Management LP acquired a new position in shares of EQT Corporation (NYSE:EQT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 57,849 shares of the oil and gas producer's stock, valued at approximately $3,091,000.

Other hedge funds have also modified their holdings of the company. Wedbush Securities Inc. purchased a new position in shares of EQT during the first quarter worth approximately $216,000. Allianz Asset Management GmbH grew its holdings in shares of EQT by 36.3% during the 1st quarter. Allianz Asset Management GmbH now owns 205,679 shares of the oil and gas producer's stock worth $10,989,000 after purchasing an additional 54,779 shares during the period. Kingsman Wealth Management Inc. purchased a new stake in shares of EQT during the 1st quarter worth about $1,284,000. Axxcess Wealth Management LLC grew its holdings in EQT by 7.0% during the 1st quarter. Axxcess Wealth Management LLC now owns 6,661 shares of the oil and gas producer's stock valued at $356,000 after purchasing an additional 434 shares in the last quarter. Finally, Philadelphia Trust Co. boosted its stake in shares of EQT by 665.8% during the 1st quarter. Philadelphia Trust Co. now owns 54,371 shares of the oil and gas producer's stock valued at $2,905,000 after buying an additional 47,271 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at EQT

In related news, EVP Sarah Fenton sold 12,438 shares of the business'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 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 SEC, which is available at the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of EQT 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 Stock Up 1.9%

Shares of EQT stock traded up $0.93 on Wednesday, hitting $51.18. 2,026,828 shares of the stock were exchanged, compared to its average volume of 8,170,280. 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 capitalization of $31.94 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 0.40 and a beta of 0.58. The business has a 50-day moving average of $53.22 and a 200 day moving average of $53.04. EQT Corporation has a fifty-two week low of $31.67 and a fifty-two week high of $61.02.

EQT (NYSE:EQT - Get Free Report) last announced 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). EQT had a return on equity of 6.24% and a net margin of 15.87%.The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the business posted ($0.08) EPS. Equities analysts anticipate that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th were issued 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 dividend payout ratio (DPR) is 34.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada upped their price target on EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 8th. Barclays increased their price target on EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Scotiabank increased their price objective on EQT from $66.00 to $68.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 13th. Roth Capital lowered EQT from a "strong-buy" rating to a "neutral" rating and lowered their target price for the company from $75.00 to $57.00 in a report on Monday, August 18th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $70.00 price objective (up previously from $60.00) on shares of EQT in a report on Tuesday, July 8th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, EQT currently has a consensus rating of "Moderate Buy" and an average price target of $62.14.

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.