Diversify Advisory Services LLC Makes New $1.05 Million Investment in EQT Corporation $EQT

Key Points

• Diversify Advisory Services initiated a roughly $1.05 million position in EQT Corporation by purchasing 20,122 shares during the second quarter. Institutional investors collectively own 90.81% of EQT.
• EQT’s latest quarter fell short of expectations, with EPS of $0.39 versus $0.41 expected and revenue down 29.2% year over year to $1.68 billion. Analysts still maintain a “Moderate Buy” consensus and project approximately $4.06 in full-year EPS.
• EQT declared a quarterly dividend of $0.165 per share, equivalent to an annualized $0.66 dividend and a 1.2% yield. CEO Toby Rice sold approximately $9.6 million of stock under a pre-arranged Rule 10b5-1 trading plan.

Diversify Advisory Services LLC purchased a new position in EQT Corporation (NYSE:EQT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 20,122 shares of the oil and gas producer's stock, valued at approximately $1,046,000.

A number of other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC raised its stake in EQT by 1.0% during the fourth quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer's stock worth $1,022,000 after buying an additional 198 shares during the last quarter. Root Financial Partners LLC raised its position in shares of EQT by 35.4% in the 1st quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer's stock worth $49,000 after acquiring an additional 202 shares in the last quarter. Rothschild Investment LLC raised its position in shares of EQT by 0.5% in the 4th quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer's stock worth $2,497,000 after acquiring an additional 215 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of EQT by 4.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer's stock valued at $392,000 after purchasing an additional 236 shares during the period. Finally, Valeo Financial Advisors LLC lifted its stake in shares of EQT by 4.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 11,813 shares of the oil and gas producer's stock valued at $633,000 after purchasing an additional 456 shares during the period. 90.81% of the stock is owned by institutional investors.

Key Headlines Impacting EQT

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

EQT Stock Up 0.9%

Shares of NYSE:EQT opened at $53.63 on Thursday. The business's 50 day moving average is $51.89 and its 200 day moving average is $56.49. EQT Corporation has a 12-month low of $47.94 and a 12-month high of $68.24. The stock has a market cap of $33.55 billion, a price-to-earnings ratio of 12.44 and a beta of 0.58. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19.

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

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. EQT's dividend payout ratio is presently 15.31%.

Insider Buying and Selling

In other EQT news, CEO Toby Z. Rice sold 175,328 shares of EQT stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the transaction, the chief executive officer owned 2,157,865 shares of the company's stock, valued at $118,747,310.95. This trade represents a 7.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 274,042 shares of company stock valued at $15,005,076. Company insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EQT shares. Weiss Ratings cut EQT from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 30th. Truist Financial reduced their price objective on shares of EQT from $74.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Sanford C. Bernstein reiterated an "outperform" rating on shares of EQT in a research note on Thursday, July 30th. BMO Capital Markets dropped their target price on shares of EQT from $76.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company raised their price target on shares of EQT from $70.00 to $79.00 and gave the stock an "overweight" rating in a report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, EQT currently has a consensus rating of "Moderate Buy" and an average price target of $68.64.

EQT Company Profile

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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