EQT Corporation (NYSE:EQT) Stake Boosted by L & S Advisors Inc

Key Points

• L & S Advisors Inc increased its stake in EQT Corporation by 126.3%, now holding 119,372 shares valued at approximately $6.38 million.
• EQT Corporation recently reported $0.45 EPS for the quarter, missing analysts' expectations, with revenue reaching $1.60 billion compared to the expected $1.78 billion.
• The company declared a quarterly dividend of $0.1575 per share, to be paid on September 2nd, with a current yield of 1.2%.

L & S Advisors Inc raised its stake in EQT Corporation (NYSE:EQT - Free Report) by 126.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 119,372 shares of the oil and gas producer's stock after acquiring an additional 66,633 shares during the quarter. L & S Advisors Inc's holdings in EQT were worth $6,378,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Delta Financial Group Inc. acquired a new position in shares of EQT during the 1st quarter worth approximately $216,000. SCP Investment LP grew its holdings in EQT by 54.5% in the 1st quarter. SCP Investment LP now owns 13,600 shares of the oil and gas producer's stock valued at $727,000 after buying an additional 4,800 shares in the last quarter. Bank of Nova Scotia grew its holdings in EQT by 227.0% in the 1st quarter. Bank of Nova Scotia now owns 279,203 shares of the oil and gas producer's stock valued at $14,918,000 after buying an additional 193,824 shares in the last quarter. R Squared Ltd acquired a new position in shares of EQT in the 1st quarter valued at $322,000. Finally, Banco Santander S.A. lifted its stake in shares of EQT by 22.5% in the 1st quarter. Banco Santander S.A. now owns 13,815 shares of the oil and gas producer's stock valued at $738,000 after purchasing an additional 2,539 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Down 1.3%

NYSE EQT traded down $0.68 during mid-day trading on Tuesday, reaching $51.19. 1,644,385 shares of the company's stock traded hands, compared to its average volume of 8,470,265. EQT Corporation has a 1-year low of $30.17 and a 1-year high of $61.02. The company has a fifty day simple moving average of $56.03 and a 200-day simple moving average of $53.18. 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 $31.95 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 0.36 and a beta of 0.59.

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 for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). EQT had a net margin of 15.87% and a return on equity of 6.24%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the business earned ($0.08) EPS. As a group, equities research analysts expect that EQT Corporation will post 3.27 EPS for the current year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders 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 yield of 1.2%. The ex-dividend date is Wednesday, August 6th. EQT's dividend payout ratio (DPR) is 34.05%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EQT shares. Roth Capital began coverage on EQT in a research note on Tuesday, June 24th. They issued a "buy" rating and a $69.00 price target on the stock. UBS Group reissued a "buy" rating on shares of EQT in a research note on Monday, July 14th. Stephens decreased their target price on EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Barclays increased their target price on EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen lowered EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.84.

Insiders Place Their Bets

In other EQT news, EVP Sarah Fenton sold 12,438 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the sale, the executive vice president owned 13,297 shares in the company, valued at $690,646.18. This trade represents a 48.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is currently owned by company insiders.

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.