Great Lakes Advisors LLC Makes New Investment in EQT Corporation $EQT

Key Points

• Great Lakes Advisors LLC has acquired a new position in EQT Corporation, purchasing 273,968 shares valued at approximately $14.6 million during the first quarter of the year.
• EQT's stock has experienced a decline of 1.6% recently, with current trading prices at around $50.78, having a market cap of $31.69 billion.
• The company reported earnings of $0.45 per share for the quarter, missing analyst expectations, and has also declared a quarterly dividend of $0.1575, reflecting a 1.2% yield.

Great Lakes Advisors LLC purchased a new position in shares of EQT Corporation (NYSE:EQT - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 273,968 shares of the oil and gas producer's stock, valued at approximately $14,638,000.

A number of other institutional investors have also added to or reduced their stakes in EQT. Nuveen LLC acquired a new position in EQT during the 1st quarter worth approximately $120,252,000. Vanguard Group Inc. increased its holdings in EQT by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer's stock worth $3,955,922,000 after purchasing an additional 1,509,054 shares in the last quarter. Ninepoint Partners LP increased its holdings in EQT by 200.0% during the 1st quarter. Ninepoint Partners LP now owns 1,500,000 shares of the oil and gas producer's stock worth $80,145,000 after purchasing an additional 1,000,000 shares in the last quarter. Situational Awareness LP bought a new stake in EQT during the 1st quarter worth approximately $52,864,000. Finally, Atalanta Sosnoff Capital LLC bought a new stake in EQT during the 1st quarter worth approximately $49,392,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EQT has been the subject of a number of recent research reports. Mizuho raised EQT to an "outperform" rating and set a $66.00 price objective for the company in a report on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Piper Sandler boosted their price objective on EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Barclays boosted their price objective on EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Scotiabank boosted their price objective on EQT from $66.00 to $68.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 13th. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $62.14.

Insider Buying and Selling at EQT

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total transaction of $219,594.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction on Friday, July 25th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

EQT Stock Performance

Shares of EQT stock traded down $0.02 during trading on Friday, hitting $50.94. The company's stock had a trading volume of 4,746,454 shares, compared to its average volume of 5,904,740. The business has a fifty day moving average of $52.94 and a 200-day moving average of $53.13. EQT Corporation has a 52 week low of $32.83 and a 52 week high of $61.02. The company has a market cap of $31.79 billion, a PE ratio of 27.54, a P/E/G ratio of 0.41 and a beta of 0.58. 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 (NYSE:EQT - Get Free Report) last announced 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). EQT had a net margin of 15.87% and a return on equity of 6.24%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the company posted ($0.08) earnings per share. As a group, research analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

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