273,968 Shares in EQT Corporation $EQT Acquired by Great Lakes Advisors LLC

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 acquired a new stake in EQT Corporation (NYSE:EQT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 273,968 shares of the oil and gas producer's stock, valued at approximately $14,638,000.

Several other institutional investors have also added to or reduced their stakes in EQT. Zions Bancorporation National Association UT bought a new position in shares of EQT during the 1st quarter worth approximately $35,000. Harbour Investments Inc. increased its holdings in EQT by 48.4% in the 1st 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. boosted its position in shares of EQT by 47.7% during 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 acquiring an additional 310 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of EQT during the 4th quarter valued at about $55,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of EQT by 197.4% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 1,383 shares of the oil and gas producer's stock valued at $73,000 after buying an additional 918 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at EQT

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 transaction of $646,029.72. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Vicky A. Bailey sold 4,259 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was 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. Insiders own 0.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. 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. Piper Sandler boosted their target price 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 target price on EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Scotiabank boosted their price target on EQT from $66.00 to $68.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 13th. Finally, Melius started coverage on EQT in a research report on Wednesday, August 20th. They set a "buy" rating and a $64.00 price objective for the company. Fifteen research 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. Based on data from MarketBeat.com, EQT currently has an average rating of "Moderate Buy" and a consensus price target of $62.14.

EQT Stock Performance

Shares of EQT stock traded down $0.02 during mid-day trading on Friday, reaching $50.94. The stock had a trading volume of 4,746,454 shares, compared to its average volume of 8,149,112. The business's fifty day moving average is $53.03 and its 200-day moving average is $53.03. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The firm has a market cap of $31.79 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 0.42 and a beta of 0.58. EQT Corporation has a 1-year low of $32.83 and a 1-year high of $61.02.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). EQT had a return on equity of 6.24% and a net margin of 15.87%.The business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same quarter in the prior year, the company posted ($0.08) EPS. On average, research analysts forecast that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th were paid a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.2%. EQT's payout ratio is presently 34.05%.

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.