EQT Corporation $EQT Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its EQT stake by 64.5% in the fourth quarter, selling 77,847 shares and ending with 42,761 shares worth about $2.29 million.
• EQT posted stronger-than-expected quarterly results, reporting EPS of $2.33 versus the $2.01 consensus estimate, while revenue came in at $3.14 billion. Analysts now expect the company to earn 4.7 EPS for the full year.
• Analysts remain mostly bullish on EQT, with a consensus rating of “Moderate Buy” and an average price target of $68.83. Recent reports from Wells Fargo, Barclays, Jefferies, JPMorgan, and Weiss Ratings were generally positive or upgraded outlooks.

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of EQT Corporation (NYSE:EQT - Free Report) by 64.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,761 shares of the oil and gas producer's stock after selling 77,847 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in EQT were worth $2,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Aventura Private Wealth LLC acquired a new position in shares of EQT in the fourth quarter worth about $31,000. Fortitude Family Office LLC raised its position in shares of EQT by 95.6% in the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer's stock worth $31,000 after acquiring an additional 280 shares during the period. Elyxium Wealth LLC acquired a new position in shares of EQT in the fourth quarter worth about $49,000. Sound Income Strategies LLC raised its position in shares of EQT by 186.4% in the fourth quarter. Sound Income Strategies LLC now owns 1,266 shares of the oil and gas producer's stock worth $64,000 after acquiring an additional 824 shares during the period. Finally, City Holding Co. raised its position in shares of EQT by 1,708.5% in the fourth quarter. City Holding Co. now owns 1,483 shares of the oil and gas producer's stock worth $79,000 after acquiring an additional 1,401 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Stock Performance

EQT stock opened at $53.03 on Tuesday. The firm has a 50 day simple moving average of $57.94 and a 200-day simple moving average of $57.70. EQT Corporation has a 1-year low of $48.47 and a 1-year high of $68.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $33.17 billion, a price-to-earnings ratio of 10.06 and a beta of 0.55.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, topping the consensus estimate of $2.01 by $0.32. EQT had a net margin of 31.94% and a return on equity of 9.74%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the business posted $1.18 EPS. On average, analysts expect that EQT Corporation will post 4.7 EPS for the current year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Wednesday, May 6th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, May 6th. EQT's dividend payout ratio is currently 12.52%.

Insider Activity at EQT

In other news, Director Vicky A. Bailey sold 4,116 shares of the company's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $59.80, for a total value of $246,136.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Sarah Fenton sold 4,876 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $64.49, for a total transaction of $314,453.24. Following the completion of the transaction, the executive vice president owned 52,953 shares in the company, valued at approximately $3,414,938.97. This represents a 8.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

EQT has been the subject of several research analyst reports. Weiss Ratings upgraded shares of EQT from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday. Wells Fargo & Company upped their price target on shares of EQT from $70.00 to $79.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Barclays upped their price target on shares of EQT from $67.00 to $69.00 and gave the stock an "overweight" rating in a research report on Monday, March 16th. Jefferies Financial Group restated a "buy" rating on shares of EQT in a research report on Sunday, April 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of EQT from $68.00 to $72.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $68.83.

EQT Company Profile

EQT Corporation NYSE: EQT is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT's primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

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