FORA Capital LLC Has $2.61 Million Stock Position in EQT Corporation $EQT

Key Points

• FORA Capital LLC increased its holdings in EQT Corporation by 218.5% in the first quarter, acquiring an additional 33,557 shares, bringing its total to 48,916 shares valued at approximately $2.61 million.
• EQT reported earnings of $0.45 per share for the last quarter, missing the consensus estimate by $0.07, with a revenue of $1.60 billion against an expected $1.78 billion.
• The company announced a quarterly dividend of $0.1575 per share to be paid on September 2nd, representing a 1.2% dividend yield with a payout ratio of 34.05%.

FORA Capital LLC lifted its holdings in EQT Corporation (NYSE:EQT - Free Report) by 218.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 48,916 shares of the oil and gas producer's stock after purchasing an additional 33,557 shares during the quarter. FORA Capital LLC's holdings in EQT were worth $2,614,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of EQT by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer's stock valued at $3,955,922,000 after purchasing an additional 1,509,054 shares during the period. Northern Trust Corp lifted its stake in EQT by 2.0% in the 1st quarter. Northern Trust Corp now owns 5,692,985 shares of the oil and gas producer's stock valued at $304,176,000 after acquiring an additional 113,716 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in EQT by 2.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,204,106 shares of the oil and gas producer's stock valued at $278,055,000 after acquiring an additional 110,249 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in EQT by 10.3% in the 1st quarter. Neuberger Berman Group LLC now owns 5,191,780 shares of the oil and gas producer's stock valued at $277,397,000 after acquiring an additional 484,671 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in EQT by 7.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,658,814 shares of the oil and gas producer's stock valued at $251,017,000 after acquiring an additional 311,154 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Price Performance

Shares of EQT traded down $0.47 during trading hours on Friday, hitting $51.90. 6,310,318 shares of the company were exchanged, compared to its average volume of 6,570,194. The company has a market cap of $32.39 billion, a price-to-earnings ratio of 28.05, a P/E/G ratio of 0.40 and a beta of 0.59. EQT Corporation has a fifty-two week low of $31.45 and a fifty-two week high of $61.02. 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 firm's fifty day moving average is $54.19 and its 200 day moving average is $53.11.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $1.60 billion during 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 earned ($0.08) earnings per share. On average, equities analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th will be paid 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 (DPR) is 34.05%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EQT shares. Royal Bank Of Canada upped their price objective on EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 8th. Jefferies Financial Group restated a "buy" rating and issued a $70.00 price target (up previously from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Morgan Stanley restated an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. Melius Research assumed coverage on EQT in a research note on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price target on the stock. Finally, Piper Sandler increased their price target on EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $62.14.

Insider Activity

In related news, EVP Sarah Fenton sold 12,438 shares of the firm's stock in a transaction dated 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 directly owned 13,297 shares of the company's stock, valued at $690,646.18. This trade represents a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The disclosure for this sale can be found here. Company insiders own 0.65% of the company's stock.

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.