Alliancebernstein L.P. Decreases Stake in EQT Corporation $EQT

Key Points

• Alliancebernstein L.P. reduced its stake in EQT Corporation by 3.4%, selling 27,069 shares, resulting in a total holding of 757,580 shares valued at approximately $40.5 million.
• EQT reported a missed earnings estimate for the last quarter, posting $0.45 EPS against expectations of $0.52, along with a revenue of $1.60 billion that fell short of the consensus estimate of $1.78 billion.
• The company declared a quarterly dividend of $0.1575 per share, offering an annualized dividend yield of 1.2% and a payout ratio of 34.05%.

Alliancebernstein L.P. trimmed its holdings in shares of EQT Corporation (NYSE:EQT - Free Report) by 3.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 757,580 shares of the oil and gas producer's stock after selling 27,069 shares during the period. Alliancebernstein L.P. owned approximately 0.13% of EQT worth $40,477,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of EQT. Zions Bancorporation National Association UT bought a new position in shares of EQT during the 1st quarter worth approximately $35,000. Harbour Investments Inc. raised its position 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 worth $37,000 after purchasing an additional 226 shares during the period. University of Texas Texas AM Investment Management Co. raised its position 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 worth $44,000 after purchasing an additional 310 shares during the period. Mascagni Wealth Management Inc. acquired a new position in shares of EQT during the fourth quarter worth approximately $55,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of EQT during the fourth quarter worth approximately $72,000. 90.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at EQT

In other 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 transaction of $219,594.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sarah Fenton sold 12,438 shares of the firm's 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 sale, the executive vice president directly owned 13,297 shares of the company's stock, valued at approximately $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.65% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on EQT shares. Piper Sandler upped their target price on EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Roth Capital lowered EQT from a "strong-buy" rating to a "neutral" rating and lowered their target price for the stock from $75.00 to $57.00 in a research report on Monday, August 18th. Wells Fargo & Company upped their target price on EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Barclays upped their target price on EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Bank of America upped their target price on EQT from $63.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. 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 company's stock. According to data from MarketBeat.com, EQT has a consensus rating of "Moderate Buy" and an average target price of $62.14.

EQT Stock Down 0.0%

NYSE EQT traded down $0.02 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 stock has a market capitalization of $31.79 billion, a P/E ratio of 27.54, a P/E/G ratio of 0.42 and a beta of 0.58. The company's fifty day moving average is $52.94 and its 200 day moving average is $53.05. EQT Corporation has a 52-week low of $32.83 and a 52-week high of $61.02. 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 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). The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same period in the previous year, the company posted ($0.08) earnings per share. Sell-side analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders 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 dividend payout ratio (DPR) is currently 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.