Citigroup Inc. Has $38.03 Million Holdings in EQT Corporation (NYSE:EQT)

Key Points

• Citigroup Inc. increased its holdings in EQT Corporation by 18.5% during the first quarter, now owning approximately 0.12% of the company worth $38.03 million.
• Multiple institutional investors have also increased their stakes in EQT, with 90.81% of the stock currently held by institutional investors.
• EQT recently reported earnings of $0.45 per share, missing estimates, and declared a quarterly dividend of $0.1575 per share, resulting in an annualized yield of 1.2%.

Citigroup Inc. raised its holdings in EQT Corporation (NYSE:EQT - Free Report) by 18.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 711,712 shares of the oil and gas producer's stock after buying an additional 111,282 shares during the period. Citigroup Inc. owned about 0.12% of EQT worth $38,027,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in EQT. Larson Financial Group LLC lifted its stake in shares of EQT by 14.1% during the 1st quarter. Larson Financial Group LLC now owns 1,582 shares of the oil and gas producer's stock worth $85,000 after buying an additional 196 shares during the last quarter. Fidelis Capital Partners LLC boosted its holdings in shares of EQT by 2.6% during the first quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer's stock worth $416,000 after acquiring an additional 207 shares during the period. Generali Investments Management Co LLC increased its stake in shares of EQT by 14.1% during the first quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer's stock worth $91,000 after purchasing an additional 211 shares during the period. Bartlett & CO. Wealth Management LLC lifted its holdings in EQT by 3.9% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer's stock worth $309,000 after purchasing an additional 219 shares during the last quarter. Finally, Harbour Investments Inc. boosted its stake in EQT by 48.4% in the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock valued at $37,000 after purchasing an additional 226 shares during the period. 90.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on EQT. Mizuho raised shares of EQT to an "outperform" rating and set a $66.00 price target on the stock in a research report on Tuesday, July 8th. Stephens cut their price target on EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Piper Sandler lifted their price objective on EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Jefferies Financial Group reissued a "buy" rating and set a $70.00 target price (up from $60.00) on shares of EQT in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada boosted 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $60.84.

EQT Price Performance

Shares of NYSE:EQT opened at $51.89 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. EQT Corporation has a 52 week low of $30.88 and a 52 week high of $61.02. The firm has a market cap of $32.38 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 0.36 and a beta of 0.59. The firm's fifty day moving average is $55.60 and its 200-day moving average is $53.11.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same period in the previous year, the company posted ($0.08) EPS. Sell-side analysts predict that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Sarah Fenton sold 12,438 shares of the 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 in the company, valued at $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction on Wednesday, August 6th. The stock was 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 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.

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