Deutsche Bank AG Acquires Shares of 2,246,778 EQT Corporation $EQT

Key Points

• Deutsche Bank acquired 2.25 million EQT shares worth approximately $119.5 million in the second quarter, giving it a 0.36% stake. Institutional investors collectively own 90.81% of EQT.
• EQT’s latest quarter showed weakness, with EPS of $0.39 missing the $0.41 consensus estimate and revenue falling 29.2% year over year to $1.68 billion. Analysts still expect about $4.06 in full-year EPS.
• Analyst sentiment remains favorable, with EQT carrying a “Moderate Buy” consensus rating and an average price target of $68.64 versus its recent $53.63 price. CEO Toby Rice separately sold $9.6 million of shares under a pre-arranged Rule 10b5-1 plan.

Deutsche Bank AG purchased a new stake in shares of EQT Corporation (NYSE:EQT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,246,778 shares of the oil and gas producer's stock, valued at approximately $119,461,000. Deutsche Bank AG owned approximately 0.36% of EQT as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. bought a new stake in shares of EQT in the fourth quarter worth approximately $26,000. Root Financial Partners LLC lifted its position in EQT by 35.4% during the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer's stock valued at $49,000 after purchasing an additional 202 shares during the period. Elyxium Wealth LLC bought a new position in EQT during the fourth quarter valued at approximately $49,000. State of Wyoming purchased a new stake in EQT in the second quarter worth approximately $58,000. Finally, Sound Income Strategies LLC boosted its holdings in EQT by 55.3% in the first quarter. Sound Income Strategies LLC now owns 1,966 shares of the oil and gas producer's stock worth $120,000 after purchasing an additional 700 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at EQT

In other news, CEO Toby Z. Rice sold 175,328 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.03, for a total value of $9,648,299.84. Following the sale, the chief executive officer owned 2,157,865 shares of the company's stock, valued at approximately $118,747,310.95. This represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 274,042 shares of company stock valued at $15,005,076 in the last ninety days. 0.72% of the stock is owned by company insiders.

Key EQT News

Here are the key news stories impacting EQT this week:

• Positive Sentiment: Morgan Stanley lowered its price target for EQT Corporation slightly, from $68 to $67, but maintained an Overweight rating. The new target implies approximately 25% upside from the recent trading level, signaling continued analyst confidence in EQT’s valuation and natural-gas prospects. Benzinga
• Neutral Sentiment: CEO Toby Rice sold 175,328 EQT shares for approximately $9.6 million, reducing his direct stake by 7.51%. Because the transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, it may carry less negative significance than a discretionary sale, although insider selling can still weigh on sentiment. SEC insider transaction filing
• Negative Sentiment: EQT’s latest reported quarter remains a fundamental headwind: earnings per share came in at $0.39 versus a $0.41 consensus estimate, revenue declined 29.2% year over year to $1.68 billion, and revenue missed expectations. Analysts nevertheless project approximately $4.06 in full-year EPS.
• Neutral Sentiment: Several headlines about EQT acquiring the Melbourne Storm rugby club and considering a sale of Vietnamese language schools concern Swedish investment firm EQT AB, not EQT Corporation. They should not be interpreted as corporate actions by NYSE:EQT. Financial Times

Wall Street Analysts Forecast Growth

EQT has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on EQT from $70.00 to $79.00 and gave the stock an "overweight" rating in a report on Thursday, April 23rd. Barclays lowered their target price on EQT from $70.00 to $68.00 and set an "overweight" rating on the stock in a report on Monday. Stephens raised their target price on EQT from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 22nd. The Goldman Sachs Group cut their price target on EQT from $65.00 to $63.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Finally, UBS Group reduced their price target on shares of EQT from $74.00 to $73.00 and set a "buy" rating for the company in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, EQT currently has an average rating of "Moderate Buy" and an average target price of $68.64.

EQT Trading Up 0.9%

EQT stock opened at $53.63 on Thursday. EQT Corporation has a 1 year low of $47.94 and a 1 year high of $68.24. The firm's 50 day moving average price is $51.89 and its 200-day moving average price is $56.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $33.55 billion, a P/E ratio of 12.44 and a beta of 0.58.

EQT (NYSE:EQT - Get Free Report) last issued its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). EQT had a return on equity of 9.31% and a net margin of 28.44%.The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted $0.45 earnings per share. The company's revenue for the quarter was down 29.2% compared to the same quarter last year. On average, equities analysts predict that EQT Corporation will post 4.06 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, August 5th. EQT's dividend payout ratio is presently 15.31%.

About EQT

EQT Corporation NYSE: EQT is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT's primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

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