Dimensional Fund Advisors LP Has $257.84 Million Holdings in EQT Corporation $EQT

Key Points

• Dimensional Fund Advisors LP reduced its holdings in EQT Corporation by 1.9%, selling 93,949 shares, and now owns approximately 4.83 million shares valued at $257.84 million.
• Several large investors, including Zions Bancorporation and Harbour Investments Inc., have recently adjusted their stakes in EQT, with Harbour Investments increasing its holdings by 48.4% during the first quarter.
• Brokerages have set new price targets for EQT shares, with Mizuho upgrading the stock to "outperform" and setting a target price of $66.00, while UBS raised its price target to $65.00, demonstrating a consensus rating of "Moderate Buy."

Dimensional Fund Advisors LP cut its stake in EQT Corporation (NYSE:EQT - Free Report) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,826,316 shares of the oil and gas producer's stock after selling 93,949 shares during the period. Dimensional Fund Advisors LP owned 0.81% of EQT worth $257,841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of EQT. Mariner LLC raised its position in EQT by 37.2% in the 4th quarter. Mariner LLC now owns 84,677 shares of the oil and gas producer's stock worth $3,905,000 after purchasing an additional 22,938 shares during the last quarter. United Capital Financial Advisors LLC raised its position in shares of EQT by 13.6% during the fourth quarter. United Capital Financial Advisors LLC now owns 13,670 shares of the oil and gas producer's stock worth $630,000 after acquiring an additional 1,639 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of EQT by 69.5% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 38,230 shares of the oil and gas producer's stock worth $1,763,000 after acquiring an additional 15,669 shares during the last quarter. Norinchukin Bank The lifted its stake in shares of EQT by 13.8% during the fourth quarter. Norinchukin Bank The now owns 29,158 shares of the oil and gas producer's stock valued at $1,344,000 after acquiring an additional 3,534 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in EQT by 2.2% in the fourth quarter. MetLife Investment Management LLC now owns 159,408 shares of the oil and gas producer's stock valued at $7,350,000 after acquiring an additional 3,368 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

EQT Stock Performance

EQT stock traded down $0.0820 during midday trading on Friday, reaching $51.9680. 3,353,022 shares of the company's stock were exchanged, compared to its average volume of 8,311,474. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. The stock's 50-day simple moving average is $55.01 and its 200 day simple moving average is $53.13. The firm has a market cap of $32.43 billion, a price-to-earnings ratio of 28.11, a P/E/G ratio of 0.37 and a beta of 0.59. EQT Corporation has a 52 week low of $31.45 and a 52 week high of $61.02.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly 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 business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the company posted ($0.08) EPS. On average, analysts expect that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th will be issued 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 dividend yield of 1.2%. EQT's payout ratio is presently 34.05%.

Insider Transactions at EQT

In other news, Director Vicky A. Bailey sold 4,259 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $51.94, for a total value of $646,029.72. Following the transaction, the executive vice president owned 13,297 shares in the company, valued at approximately $690,646.18. This trade 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on EQT shares. Barclays boosted their price objective on EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. UBS Group boosted their price target on shares of EQT from $64.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday. Melius Research assumed coverage on shares of EQT in a report on Wednesday. They issued a "buy" rating and a $64.00 price objective on the stock. Jefferies Financial Group reaffirmed a "buy" rating and set a $70.00 target price (up previously from $60.00) on shares of EQT in a report on Tuesday, July 8th. Finally, Piper Sandler upped their target price on shares of EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Fifteen research 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $62.14.

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.