Ieq Capital LLC Grows Stake in EQT Corporation $EQT

Key Points

• Ieq Capital LLC significantly increased its holdings in EQT Corporation by 1,479.1% during the first quarter, owning 77,724 shares valued at over $4 million.
• A number of institutional investors, including Kovitz Investment Group Partners LLC and Schonfeld Strategic Advisors LLC, also expanded their stakes in EQT, reflecting strong institutional interest in the company.
• EQT reported earnings that missed analysts' expectations, with a net margin of 15.87% and revenue of $1.60 billion, which fell short of the forecast of $1.78 billion.

Ieq Capital LLC boosted its stake in EQT Corporation (NYSE:EQT - Free Report) by 1,479.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,724 shares of the oil and gas producer's stock after purchasing an additional 72,802 shares during the quarter. Ieq Capital LLC's holdings in EQT were worth $4,153,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in EQT. Zions Bancorporation National Association UT bought a new position in EQT in the 1st quarter worth about $35,000. Harbour Investments Inc. boosted its stake in EQT by 48.4% in the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock worth $37,000 after purchasing an additional 226 shares during the period. University of Texas Texas AM Investment Management Co. boosted its stake in EQT by 47.7% in the 4th 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 purchasing an additional 310 shares during the period. Mascagni Wealth Management Inc. bought a new position in EQT in the 4th quarter worth about $55,000. Finally, Colonial Trust Co SC boosted its stake in EQT by 255.5% in the 4th quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock worth $66,000 after purchasing an additional 1,022 shares during the period. Institutional investors own 90.81% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on EQT shares. Piper Sandler raised their target price on EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Jefferies Financial Group restated a "buy" rating and issued a $70.00 target price (up previously from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Wells Fargo & Company lifted their price target on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Bank of America lifted their price target on EQT from $63.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. Finally, Mizuho upgraded EQT to an "outperform" rating and set a $66.00 price target for the company in a research report on Tuesday, July 8th. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $62.14.

Insider Activity at EQT

In other news, Director Vicky A. Bailey sold 4,259 shares of the business'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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of the business's 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 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 disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.

EQT Price Performance

NYSE:EQT traded down $0.47 during mid-day trading on Monday, reaching $51.90. The stock had a trading volume of 6,310,318 shares, compared to its average volume of 6,522,401. The firm has a 50 day moving average price of $54.04 and a two-hundred day moving average price of $53.10. The stock has a market capitalization of $32.39 billion, a P/E ratio of 28.05, a P/E/G ratio of 0.41 and a beta of 0.58. EQT Corporation has a one year low of $31.45 and a one year high of $61.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71.

EQT (NYSE:EQT - Get Free Report) last released its 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). The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same quarter in the previous year, the firm earned ($0.08) EPS. As a group, analysts expect that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be paid a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.2%. EQT's payout ratio is 34.05%.

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.