Vident Advisory LLC Boosts Holdings in EQT Corporation $EQT

Key Points

• Vident Advisory LLC has significantly increased its holdings in EQT Corporation by 41.9% during Q1, bringing its total to 42,586 shares valued at approximately $2.28 million.
• Other institutional investors have also enhanced their positions in EQT, with combined institutional ownership now at 90.81% of the company's stock.
• EQT recently reported earnings per share of $0.45 for the quarter, which missed analyst expectations, alongside announcing a quarterly dividend of $0.1575 per share.

Vident Advisory LLC increased its holdings in shares of EQT Corporation (NYSE:EQT - Free Report) by 41.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,586 shares of the oil and gas producer's stock after purchasing an additional 12,572 shares during the quarter. Vident Advisory LLC's holdings in EQT were worth $2,276,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Driehaus Capital Management LLC boosted its holdings in EQT by 44.6% during the first quarter. Driehaus Capital Management LLC now owns 12,400 shares of the oil and gas producer's stock worth $663,000 after purchasing an additional 3,822 shares during the last quarter. Situational Awareness LP acquired a new position in EQT during the first quarter worth $52,864,000. Trexquant Investment LP acquired a new position in EQT during the first quarter worth $30,710,000. Delta Investment Management LLC acquired a new position in EQT during the first quarter worth $257,000. Finally, Ieq Capital LLC boosted its holdings in EQT by 1,479.1% during the first quarter. Ieq Capital LLC now owns 77,724 shares of the oil and gas producer's stock worth $4,153,000 after purchasing an additional 72,802 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Insider Buying and Selling

In other EQT news, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $51.94, for a total transaction of $646,029.72. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were 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. 0.65% of the stock is owned by company insiders.

EQT Trading Down 0.6%

Shares of NYSE:EQT traded down $0.29 during mid-day trading on Friday, hitting $51.51. The company had a trading volume of 4,959,537 shares, compared to its average volume of 6,322,149. The firm has a fifty day moving average price of $53.48 and a 200 day moving average price of $53.05. The company has a market capitalization of $32.14 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 0.41 and a beta of 0.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. EQT Corporation has a one year low of $31.45 and a one year high of $61.02.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate 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 earned ($0.08) EPS. As a group, research analysts forecast that EQT Corporation will post 3.27 EPS for the current year.

EQT Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have issued reports on EQT shares. Bank of America upped their price target on shares of EQT from $63.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Royal Bank Of Canada raised their price target on shares of EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 8th. Mizuho upgraded shares of EQT to an "outperform" rating and set a $66.00 price target on the stock in a research note on Tuesday, July 8th. Melius Research began coverage on shares of EQT in a research note on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price target on the stock. Finally, Piper Sandler raised their price target on shares of EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Fifteen investment 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.14.

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.