EQT Corporation (NYSE:EQT) Shares Purchased by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia increased its stake in EQT Corporation by 227% in the first quarter, owning a total of 279,203 shares valued at approximately $14.9 million.
• EQT reported $0.45 EPS for its latest quarter, missing analysts' expectations, and had a total revenue of $1.60 billion, which also fell short of estimates.
• The company declared a quarterly dividend of $0.1575 per share, with a 1.2% yield and a dividend payout ratio of 34.05%.

Bank of Nova Scotia lifted its stake in EQT Corporation (NYSE:EQT - Free Report) by 227.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 279,203 shares of the oil and gas producer's stock after purchasing an additional 193,824 shares during the period. Bank of Nova Scotia's holdings in EQT were worth $14,918,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EQT. Harbour Investments Inc. raised its position in EQT by 48.4% during the first 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. University of Texas Texas AM Investment Management Co. lifted its stake in EQT by 47.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock valued at $44,000 after buying an additional 310 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in EQT during the 4th quarter valued at $55,000. Hazlett Burt & Watson Inc. raised its holdings in shares of EQT by 197.4% in the first quarter. Hazlett Burt & Watson Inc. now owns 1,383 shares of the oil and gas producer's stock worth $73,000 after acquiring an additional 918 shares during the last quarter. Finally, Colonial Trust Co SC lifted its position in shares of EQT by 255.5% in the fourth quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock valued at $66,000 after acquiring an additional 1,022 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Sarah Fenton sold 12,438 shares of the business'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 sale, the executive vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

EQT Stock Performance

EQT opened at $52.42 on Monday. 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 stock's 50 day moving average price is $56.10 and its two-hundred day moving average price is $53.19. The firm has a market capitalization of $32.71 billion, a P/E ratio of 28.34, a price-to-earnings-growth ratio of 0.36 and a beta of 0.59. EQT Corporation has a 12-month low of $30.02 and a 12-month high of $61.02.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings data 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 company 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 in the prior year, the company posted ($0.08) EPS. On average, equities analysts forecast that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently declared 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. 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 currently 34.05%.

Analyst Upgrades and Downgrades

EQT has been the topic of a number of analyst reports. Mizuho upgraded shares of EQT to an "outperform" rating and set a $66.00 target price on the stock in a research report on Tuesday, July 8th. Wells Fargo & Company increased their target price on EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Morgan Stanley reaffirmed an "overweight" rating on shares of EQT in a research report on Tuesday, July 15th. Royal Bank Of Canada raised their price objective on EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 8th. Finally, UBS Group reaffirmed a "buy" rating on shares of EQT in a research report on Monday, July 14th. Two 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $60.84.

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.

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