Interval Partners LP Buys 35,856 Shares of EQT Corporation $EQT

Key Points

• Interval Partners LP increased its holdings in EQT Corporation by 31.2% in the first quarter, acquiring a total of 150,848 shares worth approximately $8,060,000.
• EQT reported $0.45 earnings per share for the latest quarter, missing estimates by $0.07, with revenues of $1.60 billion compared to the expected $1.78 billion.
• The company announced a quarterly dividend of $0.1575 per share, which represents a 1.2% dividend yield and a payout ratio of 34.05%.

Interval Partners LP lifted its holdings in shares of EQT Corporation (NYSE:EQT - Free Report) by 31.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,848 shares of the oil and gas producer's stock after purchasing an additional 35,856 shares during the period. Interval Partners LP's holdings in EQT were worth $8,060,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Larson Financial Group LLC raised its stake in shares of EQT by 14.1% during the 1st quarter. Larson Financial Group LLC now owns 1,582 shares of the oil and gas producer's stock worth $85,000 after purchasing an additional 196 shares during the period. Fidelis Capital Partners LLC increased its holdings in EQT by 2.6% in the 1st quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer's stock worth $416,000 after acquiring an additional 207 shares during the last quarter. Generali Investments Management Co LLC increased its holdings in EQT by 14.1% in the 1st quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer's stock worth $91,000 after acquiring an additional 211 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its holdings in EQT by 3.9% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer's stock worth $309,000 after acquiring an additional 219 shares during the last quarter. Finally, Harbour Investments Inc. increased its holdings in EQT by 48.4% in the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock worth $37,000 after acquiring an additional 226 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

EQT Price Performance

Shares of NYSE EQT traded up $0.86 during midday trading on Wednesday, hitting $51.11. 2,474,414 shares of the company's stock were exchanged, compared to its average volume of 8,172,946. EQT Corporation has a 12-month low of $31.67 and a 12-month 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. The company has a market cap of $31.90 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 0.40 and a beta of 0.58. The business's fifty day moving average price is $53.22 and its two-hundred day moving average price is $53.04.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). EQT had a return on equity of 6.24% and a net margin of 15.87%.The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the firm posted ($0.08) earnings per share. As a group, research analysts forecast that EQT Corporation will post 3.27 EPS 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. The ex-dividend date was Wednesday, August 6th. This represents a $0.63 annualized dividend and a yield of 1.2%. EQT's payout ratio is presently 34.05%.

Analyst Ratings Changes

EQT has been the subject of a number of recent research reports. Morgan Stanley reiterated an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. Wells Fargo & Company lifted their target price on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a report on Monday, June 16th. UBS Group lifted their target price on EQT from $64.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Scotiabank lifted their target price on EQT from $66.00 to $68.00 and gave the company a "sector perform" rating in a report on Wednesday, August 13th. Finally, Royal Bank Of Canada lifted their target price on EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, July 8th. Fifteen 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 MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $62.14.

Insider Activity at EQT

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of the business'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 SEC, which is available at this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of the firm's stock in a transaction on Friday, July 25th. The stock was 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 directly owned 13,297 shares of the company's stock, valued at $690,646.18. The trade was a 48.33% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.65% of the company's stock.

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.