T. Rowe Price Investment Management Inc. trimmed its stake in EQT Corporation (NYSE:EQT - Free Report) by 18.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,372,830 shares of the oil and gas producer's stock after selling 3,087,257 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 2.23% of EQT worth $714,511,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Wedbush Securities Inc. acquired a new position in shares of EQT in the first quarter worth $216,000. Allianz Asset Management GmbH boosted its position in EQT by 36.3% during the first quarter. Allianz Asset Management GmbH now owns 205,679 shares of the oil and gas producer's stock worth $10,989,000 after acquiring an additional 54,779 shares during the last quarter. Kingsman Wealth Management Inc. acquired a new stake in EQT during the first quarter worth approximately $1,284,000. Axxcess Wealth Management LLC boosted its position in EQT by 7.0% during the first quarter. Axxcess Wealth Management LLC now owns 6,661 shares of the oil and gas producer's stock worth $356,000 after acquiring an additional 434 shares during the last quarter. Finally, Philadelphia Trust Co. boosted its position in EQT by 665.8% during the first quarter. Philadelphia Trust Co. now owns 54,371 shares of the oil and gas producer's stock worth $2,905,000 after acquiring an additional 47,271 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The sale was disclosed in a filing with the SEC, which is accessible 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 transaction of $646,029.72. Following the completion of the transaction, the executive vice president directly owned 13,297 shares in the company, valued at approximately $690,646.18. This represents a 48.33% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.65% of the company's stock.
EQT Trading Down 0.3%
Shares of EQT traded down $0.1340 during mid-day trading on Friday, reaching $51.9160. The company had a trading volume of 4,768,066 shares, compared to its average volume of 7,375,581. The stock has a market cap of $32.40 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 0.38 and a beta of 0.59. The firm has a fifty day simple moving average of $54.91 and a 200-day simple moving average of $53.13. EQT Corporation has a fifty-two week low of $31.45 and a fifty-two week high of $61.02. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32.
EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same quarter last year, the business earned ($0.08) EPS. On average, sell-side analysts anticipate that EQT Corporation will post 3.27 EPS for the current fiscal year.
EQT Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT's dividend payout ratio (DPR) is currently 34.05%.
Analysts Set New Price Targets
A number of brokerages recently issued reports on EQT. Melius Research began coverage on shares of EQT in a research report on Wednesday. They set a "buy" rating and a $64.00 target price on the stock. Melius began coverage on shares of EQT in a research report on Wednesday. They set a "buy" rating and a $64.00 target price on the stock. Barclays raised their target price on shares of EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group raised their target price on shares of EQT from $64.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Mizuho upgraded shares of EQT to an "outperform" rating and set a $66.00 target price on the stock in a research report on Tuesday, July 8th. Fifteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, EQT has a consensus rating of "Moderate Buy" and a consensus target price of $62.14.
Check Out Our Latest Stock Analysis on EQT
EQT Profile
(
Free Report)
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.
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