Gemsstock Ltd. Makes New $9.27 Million Investment in EQT Corporation (NYSE:EQT)

Key Points

• Gemsstock Ltd. has made a new investment of approximately $9.27 million in EQT Corporation, acquiring 173,500 shares, which now represents about 3.5% of its holdings.
• Major institutional investors including Vanguard Group and Capital International Investors have also increased their stakes in EQT, demonstrating significant interest in the company.
• The stock has shown a modest performance with shares recently trading at $51.89, and the company reported a quarterly dividend of $0.1575, reflecting an annualized yield of 1.2%.

Gemsstock Ltd. purchased a new position in EQT Corporation (NYSE:EQT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 173,500 shares of the oil and gas producer's stock, valued at approximately $9,270,000. EQT makes up approximately 3.5% of Gemsstock Ltd.'s holdings, making the stock its 15th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake 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 in the last quarter. Capital International Investors boosted its stake in shares of EQT by 21.3% in the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock valued at $638,867,000 after purchasing an additional 2,433,632 shares in the last quarter. Northern Trust Corp boosted its stake in shares of EQT by 18.0% in the 4th quarter. Northern Trust Corp now owns 5,579,269 shares of the oil and gas producer's stock valued at $257,260,000 after purchasing an additional 851,087 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in EQT by 2.2% during 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 buying an additional 110,249 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in EQT by 7.2% during 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 buying an additional 311,154 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

Insider Transactions at EQT

In other news, Director Vicky A. Bailey sold 4,259 shares of the company'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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sarah Fenton sold 12,438 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the sale, the executive vice president directly owned 13,297 shares in the company, valued at $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

EQT has been the subject of a number of recent analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of EQT in a report on Tuesday, July 15th. Wells Fargo & Company upped their price target on shares of EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Barclays upped their price target on shares of EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Scotiabank reiterated a "sector perform" rating and set a $66.00 price target (up from $62.00) on shares of EQT in a report on Friday, July 11th. Finally, Royal Bank Of Canada upped their price target on shares of EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $60.84.

EQT Stock Up 1.2%

Shares of NYSE EQT opened at $51.89 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. EQT Corporation has a 12 month low of $30.88 and a 12 month high of $61.02. The firm has a market capitalization of $32.38 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 0.36 and a beta of 0.59. The firm has a fifty day simple moving average of $55.60 and a two-hundred day simple moving average of $53.11.

EQT (NYSE:EQT - Get Free Report) last released its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations 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 prior year, the company earned ($0.08) earnings per share. Equities analysts expect that EQT Corporation will post 3.27 earnings per share for the current 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 given a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.2%. EQT's dividend payout ratio is currently 34.05%.

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.

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