Empowered Funds LLC Has $11.57 Million Holdings in EQT Corporation $EQT

Key Points

• Empowered Funds LLC increased its stake in EQT Corporation by 11.2% in Q1, owning 216,628 shares valued at $11.57 million.
• Multiple institutional investors have also raised their positions in EQT, with Captrust Financial Advisors increasing its stake by 41.5% in Q4.
• EQT recently reported a missed earnings of $0.45 EPS for the quarter, falling short of analysts' expectations of $0.52.

Empowered Funds LLC boosted its holdings in EQT Corporation (NYSE:EQT - Free Report) by 11.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 216,628 shares of the oil and gas producer's stock after acquiring an additional 21,738 shares during the period. Empowered Funds LLC's holdings in EQT were worth $11,574,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wedbush Securities Inc. bought a new stake in EQT in the 1st quarter valued at $216,000. Allianz Asset Management GmbH raised its stake in EQT by 36.3% in the 1st quarter. Allianz Asset Management GmbH now owns 205,679 shares of the oil and gas producer's stock valued at $10,989,000 after acquiring an additional 54,779 shares during the period. Kingsman Wealth Management Inc. acquired a new position in EQT in the 1st quarter valued at $1,284,000. Axxcess Wealth Management LLC grew its holdings in EQT by 7.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 6,661 shares of the oil and gas producer's stock valued at $356,000 after buying an additional 434 shares in the last quarter. Finally, Philadelphia Trust Co. grew its holdings in EQT by 665.8% in the 1st quarter. Philadelphia Trust Co. now owns 54,371 shares of the oil and gas producer's stock valued at $2,905,000 after buying an additional 47,271 shares in the last quarter. Institutional investors own 90.81% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Melius assumed coverage on EQT in a report on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price objective on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $70.00 price objective (up from $60.00) on shares of EQT in a report on Tuesday, July 8th. Barclays upped their price objective on EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company upped their price objective on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Finally, Royal Bank Of Canada upped their price objective on EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, EQT has a consensus rating of "Moderate Buy" and a consensus target price of $62.14.

EQT Price Performance

Shares of NYSE EQT traded down $0.02 during mid-day trading on Friday, reaching $50.94. The company had a trading volume of 4,746,454 shares, compared to its average volume of 6,170,850. 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 Corporation has a one year low of $32.83 and a one year high of $61.02. The firm has a market cap of $31.79 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 0.42 and a beta of 0.58. The business's 50-day simple moving average is $52.94 and its 200 day simple moving average is $53.05.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the business posted ($0.08) EPS. On average, research analysts predict that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently declared 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 dividend yield of 1.2%. EQT's dividend payout ratio (DPR) is presently 34.05%.

Insiders Place Their Bets

In related news, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction 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 legal filing with the SEC, which is available at this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of the firm's stock in a transaction dated 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 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 company insiders.

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.