EQT Corporation (NYSE:EQT) Shares Purchased by Entropy Technologies LP

Key Points

• Entropy Technologies LP increased its holdings in EQT Corporation by 33.7%, owning 87,218 shares valued at approximately $4.66 million as of the last quarter.
• EQT's quarterly earnings report revealed an EPS of $0.45, falling short of the consensus estimate of $0.52, with total revenue of $1.60 billion against an expected $1.78 billion.
• The company announced a quarterly dividend of $0.1575 per share, resulting in an annualized dividend yield of 1.2%, with a dividend payout ratio of 34.05%.

Entropy Technologies LP raised its holdings in EQT Corporation (NYSE:EQT - Free Report) by 33.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,218 shares of the oil and gas producer's stock after purchasing an additional 21,985 shares during the period. Entropy Technologies LP's holdings in EQT were worth $4,660,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new stake in shares of EQT in the first quarter worth approximately $35,000. Harbour Investments Inc. boosted its stake in shares of EQT by 48.4% in the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock worth $37,000 after acquiring an additional 226 shares during the last quarter. University of Texas Texas AM Investment Management Co. boosted its stake in shares of EQT by 47.7% in 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 acquiring an additional 310 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of EQT in the fourth quarter worth approximately $55,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of EQT by 197.4% in the first quarter. Hazlett Burt & Watson Inc. now owns 1,383 shares of the oil and gas producer's stock worth $73,000 after acquiring an additional 918 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Trading Down 1.6%

NYSE:EQT traded down $0.81 on Tuesday, reaching $51.01. The company's stock had a trading volume of 369,895 shares, compared to its average volume of 8,352,806. EQT Corporation has a 12-month low of $30.88 and a 12-month high of $61.02. 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 firm has a market cap of $31.83 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 0.36 and a beta of 0.59. The stock has a 50 day moving average price of $55.60 and a 200 day moving average price of $53.11.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same quarter in the prior year, the firm posted ($0.08) EPS. On average, equities analysts anticipate that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th will be issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, August 6th. EQT's payout ratio is currently 34.05%.

Wall Street Analyst Weigh In

EQT has been the topic of a number of research analyst reports. Stephens lowered their price target on EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley reiterated an "overweight" rating on shares of EQT in a research report on Tuesday, July 15th. UBS Group reiterated a "buy" rating on shares of EQT in a research report on Monday, July 14th. Piper Sandler lifted their price objective on EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $70.00 price objective (up previously from $60.00) on shares of EQT in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $60.84.

Insider Buying and Selling at EQT

In related news, Director Vicky A. Bailey sold 4,259 shares of the business'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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Sarah Fenton sold 12,438 shares of the business'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 completion of the sale, the executive vice president owned 13,297 shares in the company, valued at $690,646.18. This 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 insiders.

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.