SCP Investment LP Purchases 4,800 Shares of EQT Corporation (NYSE:EQT)

Key Points

• SCP Investment LP increased its holdings in EQT Corporation by 54.5% in the first quarter, now owning 13,600 shares valued at approximately $727,000.
• EQT Corporation reported a quarterly EPS of $0.45, missing analyst expectations of $0.52, with a revenue of $1.60 billion against an expected $1.78 billion.
• The company declared a quarterly dividend of $0.1575 per share, which will be paid on September 2nd, representing an annualized yield of 1.2%.

SCP Investment LP increased its stake in EQT Corporation (NYSE:EQT - Free Report) by 54.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,600 shares of the oil and gas producer's stock after purchasing an additional 4,800 shares during the quarter. EQT accounts for 0.6% of SCP Investment LP's portfolio, making the stock its 26th largest position. SCP Investment LP's holdings in EQT were worth $727,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in shares of EQT by 14.1% in the 1st quarter. Larson Financial Group LLC now owns 1,582 shares of the oil and gas producer's stock valued at $85,000 after purchasing an additional 196 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in EQT by 2.6% in the first quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer's stock worth $416,000 after purchasing an additional 207 shares during the last quarter. Generali Investments Management Co LLC grew its holdings in EQT by 14.1% in the first quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer's stock worth $91,000 after purchasing an additional 211 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its stake in EQT by 3.9% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer's stock valued at $309,000 after purchasing an additional 219 shares in the last quarter. Finally, Huntington National Bank boosted its holdings in shares of EQT by 7.4% in the 4th quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer's stock valued at $151,000 after acquiring an additional 224 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

EQT Stock Performance

EQT traded down $0.51 during trading hours on Tuesday, hitting $51.36. 1,380,818 shares of the stock were exchanged, compared to its average volume of 8,466,915. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $32.05 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 0.36 and a beta of 0.59. EQT Corporation has a 12 month low of $30.17 and a 12 month high of $61.02. The stock has a 50-day simple moving average of $56.03 and a 200-day simple moving average of $53.18.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The business had revenue of $1.60 billion for 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 period last year, the business posted ($0.08) earnings per share. Analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

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 given a dividend of $0.1575 per share. The ex-dividend date is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.2%. EQT's dividend payout ratio (DPR) is presently 34.05%.

Insider Buying and Selling

In related 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 value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Piper Sandler upped their price objective on shares of EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Mizuho upgraded shares of EQT to an "outperform" rating and set a $66.00 target price for the company in a research report on Tuesday, July 8th. Jefferies Financial Group reiterated a "buy" rating and issued a $70.00 target price (up from $60.00) on shares of EQT in a research report on Tuesday, July 8th. UBS Group reiterated a "buy" rating on shares of EQT in a research report on Monday, July 14th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of EQT in a research report on Tuesday, July 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, EQT presently has an average rating of "Moderate Buy" and a consensus target price of $60.84.

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.