EQT Corporation $EQT Position Trimmed by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its EQT stake by 70% in the third quarter, selling 1.08 million shares and retaining 462,811 shares worth approximately $22.5 million. Institutional investors and hedge funds still own 90.81% of EQT.
• EQT reported weaker-than-expected quarterly results, with EPS of $0.39 versus the $0.41 consensus and revenue of $1.68 billion versus $1.76 billion expected; revenue fell 29.2% year over year.
• EQT raised its quarterly dividend to $0.17 per share, or $0.68 annualized, implying a 1.3% yield. Analysts maintain a broadly positive outlook, with a “Moderate Buy” consensus and an average price target of $67.64 versus the reported $54.28 share price.

Assenagon Asset Management S.A. decreased its holdings in shares of EQT Corporation (NYSE:EQT - Free Report) by 70.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 462,811 shares of the oil and gas producer's stock after selling 1,082,350 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.07% of EQT worth $22,474,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new stake in EQT during the second quarter worth approximately $26,000. Community Bank N.A. lifted its position in shares of EQT by 198.9% during the 2nd quarter. Community Bank N.A. now owns 523 shares of the oil and gas producer's stock worth $28,000 after buying an additional 348 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in shares of EQT by 76.0% in the 2nd quarter. Anchor Investment Management LLC now owns 528 shares of the oil and gas producer's stock valued at $28,000 after buying an additional 228 shares in the last quarter. Wedbush Fund Advisers LLC boosted its holdings in shares of EQT by 251.8% in the 2nd quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer's stock valued at $31,000 after buying an additional 413 shares in the last quarter. Finally, Continuum Advisory LLC acquired a new position in shares of EQT in the 2nd quarter valued at $32,000. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Trading Down 0.0%

Shares of EQT stock opened at $54.28 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $33.95 billion, a P/E ratio of 12.59 and a beta of 0.66. EQT Corporation has a 1 year low of $47.94 and a 1 year high of $68.24. The company's fifty day moving average is $52.98 and its two-hundred day moving average is $54.11.

EQT (NYSE:EQT - Get Free Report) last announced its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS 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 business had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.76 billion. During the same period in the previous year, the company posted $0.45 earnings per share. EQT's quarterly revenue was down 29.2% on a year-over-year basis. Analysts forecast that EQT Corporation will post 3.86 earnings per share for the current year.

EQT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Wednesday, November 4th will be issued a dividend of $0.17 per share. This is an increase from EQT's previous quarterly dividend of $0.1650. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 4th. EQT's dividend payout ratio is 15.78%.

EQT News Summary

Here are the key news stories impacting EQT this week:

• Positive Sentiment: EQT Corporation raised its quarterly dividend by 3% to $0.17 per share, bringing the annualized payout to $0.68 and the indicated yield to approximately 1.3%. The increase reinforces management’s commitment to shareholder returns and may support investor sentiment. EQT Raises Quarterly Dividend 3%, Reinforces Shareholder Returns
• Positive Sentiment: Mizuho maintained an “outperform” rating while lowering its price target from $72 to $68. The revised target still implies substantial upside from recent trading levels, providing a favorable signal despite the reduction. Mizuho Adjusts EQT Price Target
• Neutral Sentiment: Scotiabank initiated coverage with a “sector perform” rating and a $54 price target, indicating limited near-term upside and a broadly market-consistent view of EQT Corporation. Scotiabank Initiates Coverage on EQT
• Neutral Sentiment: Reports that EQT is acquiring Stockbridge for $375 million and adding approximately $16.5 billion in assets under management involve EQT Real Estate, the alternative-asset-management business associated with Swedish EQT AB, rather than the U.S. natural-gas producer EQT Corporation. The transaction therefore appears unlikely to directly affect NYSE: EQT. EQT to Acquire Stockbridge
• Neutral Sentiment: Other reports concerning EQT AB’s proposed Cleanaway takeover and higher offer for Kakaku.com also relate to the Swedish investment firm, not EQT Corporation, and are not direct catalysts for the U.S. gas producer’s stock.

Insider Transactions at EQT

In related news, CEO Toby Rice sold 175,328 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.03, for a total value of $9,648,299.84. Following the transaction, the chief executive officer owned 2,157,865 shares in the company, valued at $118,747,310.95. The trade was a 7.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EQT. Truist Financial dropped their target price on shares of EQT from $74.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. Freedom Capital raised EQT to a "strong-buy" rating in a report on Tuesday, June 30th. Jefferies Financial Group cut their target price on EQT from $75.00 to $73.00 and set a "buy" rating on the stock in a research report on Tuesday, September 29th. Citigroup lifted their target price on EQT from $67.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, September 23rd. Finally, Scotiabank assumed coverage on EQT in a report on Wednesday. They issued a "sector perform" rating and a $54.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.64.

EQT Profile

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company develops and operates unconventional oil and gas properties, with a primary focus on natural gas and natural gas liquids produced from shale formations.

EQT's operations are concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations in Pennsylvania, West Virginia and Ohio. Its activities include drilling, completion, production and management of natural gas wells, along with related gathering and infrastructure operations that support the transportation of its products to market.

The company traces its roots to Equitable Gas, founded in 1878, and has evolved through multiple stages of expansion and restructuring in the U.S.

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