Philadelphia Trust Co. Has $2.91 Million Stock Holdings in EQT Corporation $EQT

Key Points

• Philadelphia Trust Co. significantly increased its stake in EQT Corporation by 665.8%, acquiring 54,371 shares worth approximately $2.9 million.
• EQT announced a quarterly dividend of $0.1575 per share, reflecting a 1.2% dividend yield, with the next payment scheduled for September 2nd.
• Recent earnings results showed that EQT's EPS missed analysts' estimates, reporting $0.45 compared to the expected $0.52, along with a decline in revenue to $1.60 billion.

Philadelphia Trust Co. increased its holdings in shares of EQT Corporation (NYSE:EQT - Free Report) by 665.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 54,371 shares of the oil and gas producer's stock after purchasing an additional 47,271 shares during the period. Philadelphia Trust Co.'s holdings in EQT were worth $2,905,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in EQT. Cresset Asset Management LLC increased its stake in EQT by 15.9% during the first quarter. Cresset Asset Management LLC now owns 20,589 shares of the oil and gas producer's stock valued at $1,100,000 after acquiring an additional 2,828 shares during the period. RR Advisors LLC increased its stake in EQT by 4.5% during the first quarter. RR Advisors LLC now owns 115,000 shares of the oil and gas producer's stock valued at $6,167,000 after acquiring an additional 5,000 shares during the period. United Capital Management of KS Inc. bought a new position in EQT during the first quarter valued at about $427,000. Oak Grove Capital LLC increased its stake in EQT by 1.3% during the first quarter. Oak Grove Capital LLC now owns 123,025 shares of the oil and gas producer's stock valued at $6,573,000 after acquiring an additional 1,570 shares during the period. Finally, Aberdeen Group plc increased its stake in EQT by 30.8% during the first quarter. Aberdeen Group plc now owns 55,720 shares of the oil and gas producer's stock valued at $2,971,000 after acquiring an additional 13,122 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Insider Activity at EQT

In other news, Director Vicky A. Bailey sold 4,259 shares of the business'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 value of $219,594.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of the company'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 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. 0.65% of the stock is owned by insiders.

EQT Price Performance

Shares of EQT traded up $0.7350 on Wednesday, hitting $51.2750. The company's stock had a trading volume of 3,325,476 shares, compared to its average volume of 8,352,324. The company has a market capitalization of $32.00 billion, a PE ratio of 27.72, a PEG ratio of 0.35 and a beta of 0.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. EQT Corporation has a fifty-two week low of $31.45 and a fifty-two week high of $61.02. The company has a 50 day moving average price of $55.13 and a 200 day moving average price of $53.14.

EQT (NYSE:EQT - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same period in the previous year, the firm earned ($0.08) earnings per share. On average, research analysts anticipate that EQT Corporation will post 3.27 earnings per share 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 issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT's payout ratio is presently 34.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank Of Canada boosted their price target on EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 8th. Melius began coverage on EQT in a research note on Wednesday. They set a "buy" rating and a $64.00 price target on the stock. Melius Research began coverage on EQT in a research note on Wednesday. They issued a "buy" rating and a $64.00 price objective on the stock. Jefferies Financial Group reiterated a "buy" rating and issued a $70.00 price objective (up from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Finally, Mizuho upgraded EQT to an "outperform" rating and set a $66.00 price objective on the stock in a research note on Tuesday, July 8th. Fifteen 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 company's stock. According to MarketBeat.com, EQT has an average rating of "Moderate Buy" and a consensus target price of $60.71.

EQT 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.