Duquesne Family Office LLC Takes $45.92 Million Position in EQT Corporation $EQT

Key Points

• Duquesne Family Office LLC has acquired 859,345 shares of EQT Corporation, valued at approximately $45.9 million, making it the firm's 20th biggest holding, representing about 1.5% of their investment portfolio.
• In the latest earnings report, EQT Corporation reported $0.45 earnings per share for the quarter, missing estimates by $0.07, with revenue of $1.6 billion compared to expected $1.78 billion.
• The firm has announced a quarterly dividend of $0.1575 per share, representing an annual yield of 1.2%, with a payout ratio currently at 34.05%.

Duquesne Family Office LLC acquired a new position in EQT Corporation (NYSE:EQT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 859,345 shares of the oil and gas producer's stock, valued at approximately $45,915,000. EQT makes up about 1.5% of Duquesne Family Office LLC's investment portfolio, making the stock its 20th biggest position. Duquesne Family Office LLC owned about 0.14% of EQT as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EQT. Wedbush Securities Inc. acquired a new stake in EQT during the 1st quarter worth about $216,000. Allianz Asset Management GmbH lifted its position in EQT by 36.3% during the 1st quarter. Allianz Asset Management GmbH now owns 205,679 shares of the oil and gas producer's stock worth $10,989,000 after acquiring an additional 54,779 shares during the period. Kingsman Wealth Management Inc. acquired a new stake in EQT during the 1st quarter worth about $1,284,000. Axxcess Wealth Management LLC lifted its position in EQT by 7.0% during the 1st quarter. Axxcess Wealth Management LLC now owns 6,661 shares of the oil and gas producer's stock worth $356,000 after acquiring an additional 434 shares during the period. Finally, Philadelphia Trust Co. lifted its position in EQT by 665.8% during the 1st quarter. Philadelphia Trust Co. now owns 54,371 shares of the oil and gas producer's stock worth $2,905,000 after acquiring an additional 47,271 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Insider Buying and Selling at EQT

In other news, EVP Sarah Fenton sold 12,438 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the transaction, the executive vice president directly owned 13,297 shares in the company, valued at $690,646.18. This trade represents a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The disclosure for this sale can be found here. Company insiders own 0.65% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EQT shares. Royal Bank Of Canada boosted their price objective on EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, July 8th. Melius initiated coverage on EQT in a research report on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price objective on the stock. UBS Group upped their price objective on EQT from $64.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Mizuho upgraded EQT to an "outperform" rating and set a $66.00 price objective on the stock in a research report on Tuesday, July 8th. Finally, Bank of America upped their price target on EQT from $63.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.14.

EQT Price Performance

Shares of NYSE:EQT traded down $0.08 during midday trading on Tuesday, hitting $50.68. The company had a trading volume of 3,329,331 shares, compared to its average volume of 8,193,366. EQT Corporation has a twelve month low of $31.45 and a twelve month high of $61.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $31.63 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 0.41 and a beta of 0.58. The business's 50-day simple moving average is $53.33 and its 200-day simple moving average is $53.06.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The business had revenue of $1.60 billion for the quarter, compared to analyst estimates 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 posted ($0.08) earnings per share. On average, research analysts predict that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th were given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, August 6th. EQT's dividend payout ratio (DPR) is currently 34.05%.

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.