EQT Corporation (NYSE:EQT) Stock Position Increased by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in EQT Corporation by 5.5%, holding 100,429 shares valued at approximately $5.36 million as of the latest SEC filing.
• The company's shares opened at $52.42, with a 12-month trading range of $30.02 to $61.02 and a market cap of $32.71 billion.
• EQT reported earnings per share of $0.45 for the recent quarter, missing estimates, and declared a quarterly dividend of $0.1575 to be paid on September 2nd, representing a yield of 1.2%.

Cetera Investment Advisers grew its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,429 shares of the oil and gas producer's stock after purchasing an additional 5,234 shares during the period. Cetera Investment Advisers' holdings in EQT were worth $5,366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Avantax Advisory Services Inc. boosted its position in shares of EQT by 4.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 10,389 shares of the oil and gas producer's stock valued at $555,000 after purchasing an additional 424 shares during the period. Montgomery Investment Management Inc. acquired a new position in EQT during the first quarter valued at $641,000. Journey Strategic Wealth LLC raised its position in EQT by 16.0% during the first quarter. Journey Strategic Wealth LLC now owns 5,916 shares of the oil and gas producer's stock valued at $316,000 after buying an additional 814 shares during the period. Ninepoint Partners LP raised its position in EQT by 200.0% during the first quarter. Ninepoint Partners LP now owns 1,500,000 shares of the oil and gas producer's stock valued at $80,145,000 after buying an additional 1,000,000 shares during the period. Finally, Dorsey Wright & Associates raised its position in EQT by 103.8% during the first quarter. Dorsey Wright & Associates now owns 9,340 shares of the oil and gas producer's stock valued at $499,000 after buying an additional 4,756 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Price Performance

Shares of NYSE:EQT opened at $52.42 on Friday. The business has a 50 day moving average price of $56.10 and a 200 day moving average price of $53.19. EQT Corporation has a twelve month low of $30.02 and a twelve month high of $61.02. The company has a market cap of $32.71 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 0.36 and a beta of 0.59. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32.

EQT (NYSE:EQT - Get Free Report) last announced its 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 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 the consensus estimate of $1.78 billion. During the same quarter in the previous year, the company earned ($0.08) EPS. Research analysts predict that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.63 annualized dividend and a yield of 1.2%. EQT's dividend payout ratio is 34.05%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EQT. Stephens dropped their price target on EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Scotiabank restated a "sector perform" rating and issued a $66.00 target price (up previously from $62.00) on shares of EQT in a research note on Friday, July 11th. Jefferies Financial Group restated a "buy" rating and issued a $70.00 target price (up previously from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Barclays boosted their target price on EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Roth Capital began coverage on EQT in a research note on Tuesday, June 24th. They set a "buy" rating and a $69.00 price target for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, EQT has a consensus rating of "Moderate Buy" and an average price target of $60.84.

Insider Buying and Selling

In other EQT news, EVP Sarah Fenton sold 12,438 shares of the company'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 completion of the transaction, the executive vice president owned 13,297 shares of the company's stock, valued at $690,646.18. This represents a 48.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.65% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.