EQT Corporation $EQT Shares Sold by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. has reduced its holdings in EQT Corporation by 25%, selling 641,072 shares in the first quarter, bringing its total ownership to approximately 1,923,397 shares valued at $102,767,000.
• Corporate insiders, including EVP Sarah Fenton and Director Vicky A. Bailey, have sold shares of EQT, with Fenton's sale representing a 48.33% decrease in her ownership.
• Analysts have mixed views on EQT, with 15 analysts rating it as "Buy" and a consensus price target of $62.14, despite the stock missing earnings expectations in its latest quarterly report.

Alyeska Investment Group L.P. trimmed its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 25.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,923,397 shares of the oil and gas producer's stock after selling 641,072 shares during the period. Alyeska Investment Group L.P. owned about 0.32% of EQT worth $102,767,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Zions Bancorporation National Association UT acquired a new stake in shares of EQT during the 1st quarter valued at approximately $35,000. Harbour Investments Inc. increased its stake in shares of EQT by 48.4% during 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 in the last quarter. University of Texas Texas AM Investment Management Co. increased its stake in shares of EQT by 47.7% during 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 in the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of EQT during the 4th quarter worth approximately $55,000. Finally, Colonial Trust Co SC increased its stake in shares of EQT by 255.5% during 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 in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. UBS Group raised their price objective on shares of EQT from $64.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Mizuho raised shares of EQT to an "outperform" rating and set a $66.00 price objective for the company in a research note on Tuesday, July 8th. Jefferies Financial Group reissued a "buy" rating and set a $70.00 price objective (up from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Finally, Melius Research assumed coverage on shares of EQT in a research note on Wednesday, August 20th. They set a "buy" rating and a $64.00 price objective 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 company. Based on data from MarketBeat, EQT has an average rating of "Moderate Buy" and a consensus price target of $62.14.

Insider Activity

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of the company's stock in a transaction that occurred 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 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. 0.65% of the stock is currently owned by corporate insiders.

EQT Stock Down 0.6%

Shares of NYSE:EQT traded down $0.29 during midday trading on Friday, hitting $51.51. 4,959,537 shares of the company's stock traded hands, compared to its average volume of 6,322,149. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $32.14 billion, a PE ratio of 27.84, a P/E/G ratio of 0.41 and a beta of 0.58. The firm's fifty day moving average price is $53.48 and its two-hundred day moving average price is $53.06. EQT Corporation has a twelve month low of $31.45 and a twelve month high of $61.02.

EQT (NYSE:EQT - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). EQT had a net margin of 15.87% and a return on equity of 6.24%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the firm posted ($0.08) EPS. On average, equities research analysts anticipate that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 annualized dividend and a yield of 1.2%. EQT's dividend 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.