EQT Corporation $EQT is Corigliano Investment Advisers LLC's 6th Largest Position

Key Points

• Corigliano Investment Advisers LLC increased its holdings in EQT Corporation by 15.2% during the 1st quarter, now owning a total of 257,847 shares valued at approximately $13.8 million.
• Analysts have raised their price targets for EQT, with UBS Group setting a target of $65.00, while Jefferies Financial Group has a target of $70.00, reflecting strong investor interest in the stock.
• EQT recently announced a quarterly dividend of $0.1575 per share, yielding approximately 1.2%, with a payout ratio of 34.05%.

Corigliano Investment Advisers LLC raised its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 257,847 shares of the oil and gas producer's stock after purchasing an additional 34,020 shares during the quarter. EQT accounts for about 6.1% of Corigliano Investment Advisers LLC's holdings, making the stock its 6th biggest holding. Corigliano Investment Advisers LLC's holdings in EQT were worth $13,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC increased its stake in EQT by 14.1% in the 1st quarter. Larson Financial Group LLC now owns 1,582 shares of the oil and gas producer's stock worth $85,000 after purchasing an additional 196 shares during the period. Fidelis Capital Partners LLC increased its stake in EQT by 2.6% in the 1st quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer's stock worth $416,000 after purchasing an additional 207 shares during the period. Generali Investments Management Co LLC increased its stake in EQT by 14.1% in the 1st 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 increased its stake in EQT by 3.9% in 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 period. Finally, Harbour Investments Inc. increased 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 worth $37,000 after purchasing an additional 226 shares during the period. 90.81% of the stock is currently owned by institutional investors.

EQT Stock Performance

EQT stock traded down $0.83 during trading on Monday, reaching $50.78. The stock had a trading volume of 6,970,174 shares, compared to its average volume of 8,222,282. EQT Corporation has a 52 week low of $31.45 and a 52 week high of $61.02. The stock's 50 day moving average is $53.48 and its two-hundred day moving average is $53.06. 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 cap of $31.69 billion, a PE ratio of 27.45, a PEG ratio of 0.41 and a beta of 0.58.

EQT (NYSE:EQT - Get Free Report) last posted 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 net margin of 15.87% and a return on equity of 6.24%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the company posted ($0.08) EPS. As a group, equities analysts anticipate 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 was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.2%. EQT's dividend payout ratio is currently 34.05%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EQT. Jefferies Financial Group reaffirmed a "buy" rating and issued a $70.00 price target (up from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Royal Bank Of Canada boosted their target price on EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 8th. Roth Capital downgraded EQT from a "strong-buy" rating to a "neutral" rating and dropped their target price for the stock from $75.00 to $57.00 in a report on Monday, August 18th. Scotiabank boosted their target price on EQT from $66.00 to $68.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 13th. Finally, Morgan Stanley reissued an "overweight" rating on shares of EQT in a report on Tuesday, July 15th. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, EQT has a consensus rating of "Moderate Buy" and a consensus target price of $62.14.

Insider Transactions at EQT

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of the company'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 owned 13,297 shares of the company's stock, valued at approximately $690,646.18. The trade was 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 corporate insiders.

EQT 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.