Donoghue Forlines LLC Invests $2.46 Million in EQT Corporation (NYSE:EQT)

Key Points

• Donoghue Forlines LLC acquired a new position in EQT Corporation, purchasing 45,995 shares valued at approximately $2.46 million, making it the firm's 15th largest investment.
• Several institutional investors, including Vanguard Group Inc. and Capital International Investors, have increased their holdings in EQT, which is now owned 90.81% by institutional entities.
• EQT Corporation recently reported a quarterly earnings miss with a net revenue of $1.60 billion, falling short of analyst estimates, and announced a quarterly dividend of $0.1575 per share.

Donoghue Forlines LLC purchased a new stake in EQT Corporation (NYSE:EQT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 45,995 shares of the oil and gas producer's stock, valued at approximately $2,458,000. EQT accounts for about 0.8% of Donoghue Forlines LLC's holdings, making the stock its 15th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Zions Bancorporation National Association UT purchased a new position in EQT during the first quarter worth $35,000. Harbour Investments Inc. increased its position in EQT by 48.4% during the first 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 in the last quarter. University of Texas Texas AM Investment Management Co. increased its position in EQT by 47.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock worth $44,000 after buying an additional 310 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in EQT during the fourth quarter worth $55,000. Finally, Colonial Trust Co SC increased its position in EQT by 255.5% during the fourth quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock worth $66,000 after buying an additional 1,022 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Stock Performance

Shares of NYSE:EQT traded up $0.60 during trading on Monday, hitting $51.89. 5,263,101 shares of the company traded hands, compared to its average volume of 9,628,958. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. The business's fifty day moving average is $55.60 and its 200-day moving average is $53.11. The stock has a market capitalization of $32.38 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 0.36 and a beta of 0.59. EQT Corporation has a one year low of $30.88 and a one year high of $61.02.

EQT (NYSE:EQT - Get Free Report) last released 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 return on equity of 6.24% and a net margin of 15.87%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the company earned ($0.08) earnings per share. As a group, equities analysts predict that EQT Corporation will post 3.27 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 2nd. Stockholders of record on Wednesday, August 6th will be paid a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.2%. EQT's dividend payout ratio is 34.05%.

Insiders Place Their Bets

In other news, EVP Sarah Fenton sold 12,438 shares of the company's 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 transaction, the executive vice president directly owned 13,297 shares of the company's stock, valued at approximately $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vicky A. Bailey sold 4,259 shares of the 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 disclosure for this sale can be found here. Corporate insiders own 0.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Piper Sandler raised their price target on EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Jefferies Financial Group reiterated a "buy" rating and issued a $70.00 target price (up previously from $60.00) on shares of EQT in a report on Tuesday, July 8th. Barclays boosted their price objective on EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Roth Capital began coverage on EQT in a research note on Tuesday, June 24th. They set a "buy" rating and a $69.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price target on EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, EQT currently has an average rating of "Moderate Buy" and a consensus price target of $60.84.

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.