Energy Income Partners LLC Lowers Stock Holdings in EQT Corporation $EQT

Key Points

• Energy Income Partners LLC reduced its holdings in EQT Corporation by 14.3%, owning 372,530 shares after selling 62,149 shares during the first quarter.
• EQT announced a quarterly dividend of $0.1575 per share, with an annualized yield of 1.2% and a payout ratio of 34.05%.
• Wells Fargo upgraded EQT's price target from $59.00 to $63.00, while 15 research analysts rated the stock as a Buy and the consensus price target is $62.14.

Energy Income Partners LLC trimmed its position in shares of EQT Corporation (NYSE:EQT - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 372,530 shares of the oil and gas producer's stock after selling 62,149 shares during the quarter. Energy Income Partners LLC owned approximately 0.06% of EQT worth $19,904,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in EQT by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer's stock valued at $3,955,922,000 after acquiring an additional 1,509,054 shares in the last quarter. Northern Trust Corp boosted its position in 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 acquiring an additional 113,716 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of EQT by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,204,106 shares of the oil and gas producer's stock valued at $278,055,000 after purchasing an additional 110,249 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of 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 purchasing an additional 484,671 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of EQT by 7.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,658,814 shares of the oil and gas producer's stock valued at $251,017,000 after purchasing an additional 311,154 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Bank of America lifted their target price on shares of EQT from $63.00 to $80.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Piper Sandler lifted their target price on shares of EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Royal Bank Of Canada lifted their target price on shares of EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, July 8th. Wells Fargo & Company lifted their target price on shares of EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $70.00 price objective (up from $60.00) on shares of EQT in a report on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, EQT currently has an average rating of "Moderate Buy" and an average target price of $62.14.

Insider Activity

In other news, EVP Sarah Fenton sold 12,438 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 13,297 shares of the company's stock, valued at approximately $690,646.18. This represents a 48.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vicky A. Bailey sold 4,259 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was 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 insiders.

EQT Price Performance

EQT stock traded down $0.88 during mid-day trading on Wednesday, hitting $51.50. The stock had a trading volume of 5,245,592 shares, compared to its average volume of 6,183,190. EQT Corporation has a one year low of $31.45 and a one year high of $61.02. The firm's 50 day moving average is $53.74 and its 200 day moving average is $53.09. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $32.14 billion, a P/E ratio of 21.25, a P/E/G ratio of 0.41 and a beta of 0.58.

EQT (NYSE:EQT - Get Free Report) last issued 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). EQT had a return on equity of 6.24% and a net margin of 15.87%.The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same period last year, the company earned ($0.08) earnings per share. On average, sell-side analysts forecast that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th were given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 6th. EQT's payout ratio is 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.