EQT Corporation $EQT Stock Position Increased by Focus Partners Advisor Solutions LLC

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in EQT Corporation by 74.4% during Q1, acquiring an additional 6,946 shares, bringing their total holdings to 16,283 shares valued at approximately $870,000.
• Multiple brokerages have recently upgraded their price targets for EQT, with Barclays raising it from $65.00 to $68.00, and the average target price now sitting at $62.14.
• EQT's recent quarterly earnings report showed an EPS of $0.45, falling short of the consensus estimate of $0.52, while revenues were reported at $1.60 billion, below expectations of $1.78 billion.

Focus Partners Advisor Solutions LLC lifted its holdings in shares of EQT Corporation (NYSE:EQT - Free Report) by 74.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,283 shares of the oil and gas producer's stock after buying an additional 6,946 shares during the period. Focus Partners Advisor Solutions LLC's holdings in EQT were worth $870,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of EQT by 2.1% in 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 purchasing an additional 1,509,054 shares during the period. Northern Trust Corp boosted its holdings in shares of EQT by 2.0% during the 1st quarter. Northern Trust Corp now owns 5,692,985 shares of the oil and gas producer's stock valued at $304,176,000 after purchasing an additional 113,716 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in EQT by 2.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,204,106 shares of the oil and gas producer's stock worth $278,055,000 after purchasing an additional 110,249 shares during the period. Neuberger Berman Group LLC increased its holdings in EQT by 10.3% during the first quarter. Neuberger Berman Group LLC now owns 5,191,780 shares of the oil and gas producer's stock valued at $277,397,000 after buying an additional 484,671 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in EQT by 7.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,658,814 shares of the oil and gas producer's stock worth $251,017,000 after purchasing an additional 311,154 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Insider Buying and Selling at EQT

In other EQT news, EVP Sarah Fenton sold 12,438 shares of EQT stock in a transaction on Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the transaction, the executive vice president owned 13,297 shares in the company, valued at approximately $690,646.18. The trade was a 48.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total transaction of $219,594.04. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on EQT shares. Jefferies Financial Group reissued a "buy" rating and issued a $70.00 price objective (up from $60.00) on shares of EQT in a research report on Tuesday, July 8th. Barclays increased their price objective on shares of EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Piper Sandler increased their price target on shares of EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Roth Capital cut EQT from a "strong-buy" rating to a "neutral" rating and reduced their target price for the stock from $75.00 to $57.00 in a report on Monday, August 18th. Finally, Melius Research assumed coverage on EQT in a research note on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price target for the company. Fifteen 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $62.14.

EQT Stock Performance

Shares of NYSE:EQT traded down $0.83 during trading on Monday, hitting $50.78. The stock had a trading volume of 6,294,741 shares, compared to its average volume of 8,211,556. EQT Corporation has a 12-month low of $31.45 and a 12-month high of $61.02. The stock has a market capitalization of $31.69 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 0.41 and a beta of 0.58. The stock has a 50-day simple moving average of $53.48 and a two-hundred day simple moving average of $53.06. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations 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 company posted ($0.08) EPS. On average, equities research analysts expect 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. Shareholders of record on Wednesday, August 6th were given a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.2%. EQT's 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.