Sciencast Management LP Has $3.65 Million Position in EQT Corporation $EQT

Key Points

• Sciencast Management LP increased its position in EQT Corporation by 17.3% during the first quarter, making it the 7th largest holding for the firm, valued at approximately $3.65 million.
• Insider trading activity saw Sarah Fenton, EVP, sell over 12,000 shares, decreasing her position by 48.33%, while director Vicky A. Bailey also made a notable sale.
• EQT Corporation reported earnings of $0.45 per share for the last quarter, missing estimates, and declared a quarterly dividend of $0.1575 per share.

Sciencast Management LP boosted its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 17.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,374 shares of the oil and gas producer's stock after buying an additional 10,087 shares during the period. EQT accounts for 0.8% of Sciencast Management LP's investment portfolio, making the stock its 7th largest position. Sciencast Management LP's holdings in EQT were worth $3,653,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in EQT during the 1st quarter worth about $120,252,000. Vanguard Group Inc. lifted its position in EQT by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer's stock worth $3,955,922,000 after acquiring an additional 1,509,054 shares during the period. Ninepoint Partners LP lifted its position in EQT by 200.0% during the 1st quarter. Ninepoint Partners LP now owns 1,500,000 shares of the oil and gas producer's stock worth $80,145,000 after acquiring an additional 1,000,000 shares during the period. Situational Awareness LP acquired a new stake in EQT during the 1st quarter worth approximately $52,864,000. Finally, Atalanta Sosnoff Capital LLC acquired a new stake in EQT during the 1st quarter worth approximately $49,392,000. Institutional investors and hedge funds own 90.81% of the company's stock.

Insiders Place Their Bets

In other EQT news, EVP Sarah Fenton sold 12,438 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction dated 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Melius assumed coverage on EQT in a research report on Wednesday, August 20th. They set a "buy" rating and a $64.00 price objective for the company. Mizuho raised EQT to an "outperform" rating and set a $66.00 price target for the company in a report on Tuesday, July 8th. UBS Group raised their price target on EQT from $64.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Piper Sandler raised their price target on EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $70.00 price objective (up from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Fifteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.14.

EQT Stock Down 0.0%

Shares of NYSE EQT traded down $0.02 during midday trading on Friday, reaching $50.94. 4,738,734 shares of the company's stock were exchanged, compared to its average volume of 8,138,749. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $31.79 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 0.42 and a beta of 0.58. EQT Corporation has a 52-week low of $32.83 and a 52-week high of $61.02. The business's fifty day moving average price is $53.03 and its two-hundred day moving average price is $53.03.

EQT (NYSE:EQT - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). The company had revenue of $1.60 billion for 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 period last year, the company posted ($0.08) earnings per share. Analysts forecast that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, August 6th. EQT's dividend payout ratio is 34.05%.

EQT Company 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.