Encore Global Management LP Makes New $1.49 Million Investment in EQT Corporation $EQT

Encore Global Management LP purchased a new stake in EQT Corporation (NYSE:EQT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,000 shares of the oil and gas producer's stock, valued at approximately $1,489,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Caxton Associates LLP acquired a new stake in EQT in the first quarter valued at $256,000. Focus Partners Wealth grew its stake in shares of EQT by 9.0% during the 1st quarter. Focus Partners Wealth now owns 21,637 shares of the oil and gas producer's stock worth $1,156,000 after purchasing an additional 1,789 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of EQT by 495.2% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer's stock valued at $7,468,000 after purchasing an additional 106,545 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of EQT by 39.4% in the second quarter. Captrust Financial Advisors now owns 30,617 shares of the oil and gas producer's stock valued at $1,786,000 after purchasing an additional 8,658 shares during the period. Finally, Horizon Investments LLC boosted its holdings in EQT by 43.6% during the third quarter. Horizon Investments LLC now owns 85,502 shares of the oil and gas producer's stock worth $4,640,000 after buying an additional 25,971 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EQT has been the subject of a number of research analyst reports. UBS Group dropped their target price on shares of EQT from $74.00 to $73.00 and set a "buy" rating for the company in a report on Wednesday, July 8th. JPMorgan Chase & Co. dropped their price objective on EQT from $72.00 to $68.00 and set an "overweight" rating for the company in a research note on Tuesday, June 23rd. Morgan Stanley decreased their target price on EQT from $68.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday. Jefferies Financial Group lowered their target price on EQT from $77.00 to $75.00 and set a "buy" rating on the stock in a report on Wednesday, July 1st. Finally, Stephens lifted their price target on EQT from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, EQT currently has an average rating of "Moderate Buy" and an average target price of $68.10.

EQT Stock Down 0.3%

EQT opened at $53.74 on Friday. EQT Corporation has a 12 month low of $47.94 and a 12 month high of $68.24. The business has a 50-day moving average of $51.99 and a two-hundred day moving average of $56.45. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $33.62 billion, a price-to-earnings ratio of 12.47 and a beta of 0.58.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the business earned $0.45 EPS. The firm's revenue for the quarter was down 29.2% compared to the same quarter last year. On average, research analysts expect that EQT Corporation will post 3.97 earnings per share for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. EQT's dividend payout ratio (DPR) is 15.31%.

Insider Activity

In other EQT news, CEO Toby Z. Rice sold 175,328 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal 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. Insiders sold a total of 274,042 shares of company stock valued at $15,005,076 in the last ninety days. 0.72% of the stock is currently owned by company insiders.

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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