EQT Corporation $EQT Shares Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in EQT Corporation by 25.1%, holding over 2.5 million shares valued at approximately $135 million as of the latest SEC filings.
• Despite recent share purchases by institutional investors, corporate insiders have sold shares, including significant sales by Director Vicky A. Bailey and EVP Sarah Fenton.
• Analysts have a consensus price target of $62.14 for EQT Corporation, with ratings ranging from "buy" to "hold" from various financial institutions.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of EQT Corporation (NYSE:EQT - Free Report) by 25.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,525,776 shares of the oil and gas producer's stock after purchasing an additional 506,970 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.42% of EQT worth $134,952,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Zions Bancorporation National Association UT purchased a new stake in shares of EQT during the first quarter valued at $35,000. Harbour Investments Inc. grew its holdings in shares of EQT by 48.4% during the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock valued at $37,000 after buying an additional 226 shares during the last quarter. University of Texas Texas AM Investment Management Co. grew its holdings in shares of EQT by 47.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock valued at $44,000 after buying an additional 310 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of EQT during the fourth quarter valued at $55,000. Finally, Hazlett Burt & Watson Inc. grew its holdings 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 valued at $73,000 after buying an additional 918 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Down 1.8%

Shares of EQT traded down $0.90 during midday trading on Monday, reaching $50.04. The stock had a trading volume of 5,335,604 shares, compared to its average volume of 5,904,740. EQT Corporation has a 1-year low of $32.88 and a 1-year high of $61.02. The company's fifty day simple moving average is $52.82 and its two-hundred day simple moving average is $53.14. The company has a market cap of $31.23 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 0.41 and a beta of 0.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings data 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 net margin of 15.87% and a return on equity of 6.24%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Equities research analysts expect that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th were paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.3%. The ex-dividend date was Wednesday, August 6th. EQT's dividend payout ratio (DPR) is currently 34.05%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Barclays boosted 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. Jefferies Financial Group reissued a "buy" rating and set a $70.00 price objective (up from $60.00) on shares of EQT in a report on Tuesday, July 8th. Morgan Stanley reissued an "overweight" rating on shares of EQT in a report on Tuesday, July 15th. Finally, Piper Sandler upped 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. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $62.14.

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 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 approximately $690,646.18. The trade was a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vicky A. Bailey sold 4,259 shares of EQT 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. 0.65% of the stock is owned by company insiders.

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.