Deutsche Bank AG Grows Stock Position in EQT Corporation (NYSE:EQT)

Key Points

• Deutsche Bank AG increased its stake in EQT Corporation by 12.4%, purchasing an additional 249,005 shares, bringing its total ownership to approximately $120.8 million.
• Several institutional investors have also boosted their holdings in EQT, including Harbour Investments Inc., which grew its stake by 48.4% in the first quarter.
• EQT announced a quarterly dividend of $0.1575 per share, equating to an annual yield of 1.2% with the next payment scheduled for September 2nd.

Deutsche Bank AG increased its position in shares of EQT Corporation (NYSE:EQT - Free Report) by 12.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,261,183 shares of the oil and gas producer's stock after acquiring an additional 249,005 shares during the period. Deutsche Bank AG owned about 0.38% of EQT worth $120,815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in 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 period. Fidelis Capital Partners LLC lifted its holdings in EQT by 2.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer's stock worth $416,000 after buying an additional 207 shares during the period. Generali Investments Management Co LLC lifted its holdings in EQT by 14.1% during 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 buying 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 buying an additional 219 shares during the period. Finally, 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. Institutional investors own 90.81% of the company's stock.

EQT Stock Performance

Shares of EQT traded down $0.75 on Tuesday, reaching $51.07. 369,895 shares of the company's stock traded hands, compared to its average volume of 8,352,806. 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 stock's 50 day simple moving average is $55.60 and its two-hundred day simple moving average is $53.11. EQT Corporation has a 52-week low of $30.88 and a 52-week high of $61.02. The stock has a market cap of $31.87 billion, a PE ratio of 27.60, a PEG ratio of 0.36 and a beta of 0.59.

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

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th will be paid a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.63 annualized dividend and a yield of 1.2%. EQT's dividend payout ratio (DPR) is currently 34.05%.

Insider Buying and Selling at EQT

In related news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sarah Fenton sold 12,438 shares of EQT stock in a transaction on Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the sale, the executive vice president directly owned 13,297 shares of the company's stock, valued at $690,646.18. This represents 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 company insiders.

Analyst Ratings Changes

EQT has been the topic of a number of recent analyst reports. Scotiabank reissued a "sector perform" rating and issued a $66.00 price objective (up from $62.00) on shares of EQT in a research note on Friday, July 11th. Wells Fargo & Company boosted their price objective on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Barclays boosted their price objective on EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Stephens dropped their price objective on EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Finally, Piper Sandler boosted their price objective on EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Two investment 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 MarketBeat, EQT presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.84.

About EQT

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.