EQT Corporation $EQT Shares Purchased by Alden Global Capital LLC

Key Points

• Alden Global Capital LLC increased its stake in EQT Corporation by 171.5%, acquiring an additional 58,174 shares, making EQT about 5.3% of its portfolio.
• EQT reported $0.45 EPS for the latest quarter, missing analyst expectations of $0.52, and had revenue of $1.60 billion compared to estimates of $1.78 billion.
• The company recently announced a quarterly dividend of $0.1575 per share, resulting in an annual dividend yield of 1.2%.

Alden Global Capital LLC boosted its holdings in EQT Corporation (NYSE:EQT - Free Report) by 171.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,091 shares of the oil and gas producer's stock after purchasing an additional 58,174 shares during the quarter. EQT makes up approximately 5.3% of Alden Global Capital LLC's holdings, making the stock its 9th biggest position. Alden Global Capital LLC's holdings in EQT were worth $4,920,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new position in EQT in the 1st quarter worth approximately $35,000. Harbour Investments Inc. lifted its position in 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 buying an additional 226 shares during the last quarter. University of Texas Texas AM Investment Management Co. lifted its position in 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 buying an additional 310 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in EQT in the fourth quarter worth $55,000. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of EQT by 197.4% during the first quarter. Hazlett Burt & Watson Inc. now owns 1,383 shares of the oil and gas producer's stock worth $73,000 after purchasing an additional 918 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

EQT Stock Down 0.6%

Shares of EQT stock traded down $0.29 during trading hours on Friday, reaching $51.51. 4,959,537 shares of the company's stock were exchanged, compared to its average volume of 6,322,149. EQT Corporation has a 1 year low of $31.45 and a 1 year high of $61.02. The stock has a market cap of $32.14 billion, a PE ratio of 27.84, a PEG ratio of 0.41 and a beta of 0.58. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The stock's fifty day moving average price is $53.48 and its two-hundred day moving average price is $53.06.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share 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 business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same quarter in the previous year, the firm posted ($0.08) EPS. Research analysts predict that EQT Corporation will post 3.27 EPS for the current year.

EQT Announces Dividend

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

Insider Buying and Selling

In related news, Director Vicky A. Bailey sold 4,259 shares of the company'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 value of $219,594.04. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Sarah Fenton sold 12,438 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was 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 approximately $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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Royal Bank Of Canada lifted their target price on EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 8th. Melius Research assumed coverage on EQT in a report on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price objective for the company. Mizuho upgraded EQT to an "outperform" rating and set a $66.00 price objective for the company in a report on Tuesday, July 8th. Morgan Stanley restated an "overweight" rating on shares of EQT in a report on Tuesday, July 15th. Finally, Roth Capital downgraded EQT from a "strong-buy" rating to a "neutral" rating and decreased their price objective for the company from $75.00 to $57.00 in a report on Monday, August 18th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, EQT has a consensus rating of "Moderate Buy" and a consensus price target of $62.14.

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.