EQT Corporation (NYSE:EQT) Stock Holdings Reduced by TLS Advisors LLC

Key Points

• TLS Advisors LLC has reduced its stake in EQT Corporation by 9.9% in the first quarter, but EQT remains its largest position, accounting for approximately 16.4% of its holdings.
• Several large investors, including Envestnet Asset Management Inc. and Bank of Nova Scotia, have increased their holdings in EQT during the fourth quarter, highlighting ongoing institutional interest in the stock.
• EQT Corporation recently reported earnings of $0.45 EPS for the last quarter, missing estimates, and announced a quarterly dividend of $0.1575 per share with an annual yield of 1.2%.

TLS Advisors LLC lowered its holdings in shares of EQT Corporation (NYSE:EQT - Free Report) by 9.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,800 shares of the oil and gas producer's stock after selling 15,000 shares during the period. EQT makes up 16.4% of TLS Advisors LLC's investment portfolio, making the stock its largest holding. TLS Advisors LLC's holdings in EQT were worth $7,256,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EQT. Frank Rimerman Advisors LLC increased its holdings in shares of EQT by 8.2% during the first quarter. Frank Rimerman Advisors LLC now owns 6,971 shares of the oil and gas producer's stock valued at $372,000 after acquiring an additional 530 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in EQT by 196.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 403,082 shares of the oil and gas producer's stock valued at $21,537,000 after purchasing an additional 267,256 shares during the last quarter. Donoghue Forlines LLC bought a new stake in EQT during the 1st quarter valued at about $2,458,000. Zions Bancorporation National Association UT purchased a new position in EQT in the first quarter worth about $35,000. Finally, Townsquare Capital LLC lifted its stake in shares of EQT by 21.2% in the first quarter. Townsquare Capital LLC now owns 23,934 shares of the oil and gas producer's stock worth $1,279,000 after buying an additional 4,180 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Trading Up 0.1%

EQT stock traded up $0.03 during midday trading on Wednesday, reaching $51.30. The stock had a trading volume of 3,583,042 shares, compared to its average volume of 8,366,345. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. The firm has a market cap of $32.01 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 0.36 and a beta of 0.59. EQT Corporation has a 52-week low of $30.88 and a 52-week high of $61.02. The company has a fifty day moving average of $55.50 and a 200 day moving average of $53.10.

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

EQT Dividend Announcement

The business 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 dividend of $0.1575 per share. 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 payout ratio is currently 34.05%.

Wall Street Analysts Forecast Growth

EQT has been the subject of several analyst reports. Royal Bank Of Canada raised their price target on shares of EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 8th. Wells Fargo & Company lifted their target price on EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Jefferies Financial Group restated a "buy" rating and issued a $70.00 price target (up previously from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Roth Capital initiated coverage on EQT in a research report on Tuesday, June 24th. They set a "buy" rating and a $69.00 price objective on the stock. Finally, Stephens reduced their price objective on EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.95.

Insider Transactions at EQT

In other news, EVP Sarah Fenton sold 12,438 shares of the firm'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 transaction of $646,029.72. Following the transaction, the executive vice president directly owned 13,297 shares of the company's stock, valued at approximately $690,646.18. This trade represents a 48.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vicky A. Bailey sold 4,259 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company's stock.

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.