Clean Energy Transition LLP Purchases 243,288 Shares of EQT Corporation (NYSE:EQT)

Key Points

• Clean Energy Transition LLP increased its stake in EQT Corporation by 45.4%, now holding 778,918 shares valued at approximately $41.6 million, making it the firm's 9th largest position.
• Multiple hedge funds have recently modified their holdings in EQT, leading to institutional investors now owning 90.81% of the company's stock.
• EQT's latest quarterly earnings reported a miss on EPS, with earnings of $0.45 per share compared to the expected $0.52, and a revenue of $1.60 billion against a $1.78 billion consensus estimate.

Clean Energy Transition LLP lifted its position in shares of EQT Corporation (NYSE:EQT - Free Report) by 45.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 778,918 shares of the oil and gas producer's stock after acquiring an additional 243,288 shares during the quarter. EQT makes up approximately 5.1% of Clean Energy Transition LLP's portfolio, making the stock its 9th biggest position. Clean Energy Transition LLP owned 0.13% of EQT worth $41,618,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Zions Bancorporation National Association UT acquired a new position in EQT during the 1st quarter worth about $35,000. Harbour Investments Inc. lifted its holdings in EQT by 48.4% during the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock worth $37,000 after buying an additional 226 shares during the period. University of Texas Texas AM Investment Management Co. lifted its holdings in EQT by 47.7% during the 4th 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 buying an additional 310 shares during the period. Mascagni Wealth Management Inc. acquired a new position in EQT during the 4th quarter worth about $55,000. Finally, Colonial Trust Co SC lifted its holdings in EQT by 255.5% during the 4th quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock worth $66,000 after buying an additional 1,022 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Insider Activity

In other EQT news, EVP Sarah Fenton sold 12,438 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were 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 in the company, valued at $690,646.18. This trade represents a 48.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Vicky A. Bailey sold 4,259 shares of the firm'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 disclosure for this sale can be found here. Company insiders own 0.65% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Roth Capital assumed coverage on EQT in a report on Tuesday, June 24th. They set a "buy" rating and a $69.00 target price on the stock. Jefferies Financial Group reissued a "buy" rating and issued a $70.00 price objective (up from $60.00) on shares of EQT in a research report on Tuesday, July 8th. UBS Group reissued a "buy" rating on shares of EQT in a research report on Monday, July 14th. 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. Finally, Scotiabank reissued a "sector perform" rating and issued a $66.00 price objective (up from $62.00) on shares of EQT in a research report on Friday, July 11th. 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.84.

EQT Stock Up 0.1%

Shares of NYSE:EQT opened at $51.29 on Friday. The stock's 50-day moving average price is $55.70 and its 200-day moving average price is $53.13. EQT Corporation has a 12-month low of $30.59 and a 12-month high of $61.02. The stock has a market capitalization of $32.01 billion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 0.36 and a beta of 0.59. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32.

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

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders 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 yield of 1.2%. EQT's dividend payout ratio (DPR) is 34.05%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.