EQT Corporation $EQT is Drummond Knight Asset Management Pty Ltd's 7th Largest Position

Key Points

• Drummond Knight Asset Management Pty Ltd increased its holdings in EQT Corporation by 26.2% in the first quarter, making EQT its seventh largest position with a total holding valued at $15,044,000.
• Analysts are optimistic, with Bank of America raising the target price for EQT shares from $63.00 to $80.00 and reaffirming a "buy" rating.
• EQT Corporation recently announced a quarterly dividend of $0.1575 per share, translating to an annual yield of 1.2% and a payout ratio of 34.05%.

Drummond Knight Asset Management Pty Ltd raised its position in shares of EQT Corporation (NYSE:EQT - Free Report) by 26.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 281,569 shares of the oil and gas producer's stock after buying an additional 58,436 shares during the quarter. EQT comprises 7.6% of Drummond Knight Asset Management Pty Ltd's portfolio, making the stock its 7th largest position. Drummond Knight Asset Management Pty Ltd's holdings in EQT were worth $15,044,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of EQT. Captrust Financial Advisors raised its stake in EQT by 41.5% during the fourth quarter. Captrust Financial Advisors now owns 12,766 shares of the oil and gas producer's stock worth $589,000 after acquiring an additional 3,746 shares during the period. Focus Partners Wealth raised its stake in shares of EQT by 29.7% during the fourth quarter. Focus Partners Wealth now owns 19,848 shares of the oil and gas producer's stock valued at $915,000 after purchasing an additional 4,544 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of EQT by 2.8% during the 4th quarter. Janus Henderson Group PLC now owns 49,785 shares of the oil and gas producer's stock worth $2,296,000 after buying an additional 1,367 shares in the last quarter. OMERS ADMINISTRATION Corp increased its stake in shares of EQT by 29.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 17,733 shares of the oil and gas producer's stock valued at $818,000 after acquiring an additional 4,029 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in EQT by 14.6% during the fourth quarter. Nuveen Asset Management LLC now owns 1,530,008 shares of the oil and gas producer's stock worth $70,549,000 after purchasing an additional 194,438 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at EQT

In other 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 value of $646,029.72. Following the completion of the sale, the executive vice president directly owned 13,297 shares of the company's stock, valued at $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction that occurred 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. Company insiders own 0.65% of the company's stock.

EQT Trading Up 0.2%

Shares of EQT stock traded up $0.11 during trading hours on Wednesday, reaching $50.06. 4,069,629 shares of the stock traded hands, compared to its average volume of 8,133,382. 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 capitalization of $31.24 billion, a PE ratio of 27.12, a PEG ratio of 0.41 and a beta of 0.58. EQT Corporation has a 1-year low of $32.88 and a 1-year high of $61.02. The business has a fifty day moving average price of $52.72 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 EPS 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 period in the prior year, the business posted ($0.08) EPS. On average, equities 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. Investors of record on Wednesday, August 6th were given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, August 6th. EQT's payout ratio is presently 34.05%.

Analyst Ratings Changes

EQT has been the subject of a number of research reports. Scotiabank increased their price target on EQT from $66.00 to $68.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 13th. Jefferies Financial Group reaffirmed a "buy" rating and set a $70.00 target price (up from $60.00) on shares of EQT in a report on Tuesday, July 8th. Bank of America raised their price objective on shares of EQT from $63.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. Piper Sandler boosted their target price on shares of EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, Barclays increased their target price on shares of EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. 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 stock. According to data from MarketBeat.com, EQT presently has an average rating of "Moderate Buy" and a consensus target price 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.