Gulf International Bank UK Ltd Sells 12,192 Shares of EQT Corporation (NYSE:EQT)

Key Points

• Gulf International Bank UK Ltd reduced its stake in EQT Corporation by 27.3%, selling 12,192 shares, and now holds 32,536 shares worth approximately $1.74 million.
• Several institutional investors have taken significant positions in EQT recently, with Vanguard Group increasing its stake to 74 million shares valued at nearly $4 billion.
• EQT announced a quarterly dividend of $0.1575 per share, equating to an annual yield of 1.2% and a payout ratio of 34.05%.

Gulf International Bank UK Ltd lowered its position in shares of EQT Corporation (NYSE:EQT - Free Report) by 27.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,536 shares of the oil and gas producer's stock after selling 12,192 shares during the period. Gulf International Bank UK Ltd's holdings in EQT were worth $1,738,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in EQT. Slate Path Capital LP bought a new stake in shares of EQT during the fourth quarter valued at approximately $123,575,000. Castle Hook Partners LP increased its position in shares of EQT by 199.5% during the fourth quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer's stock valued at $184,012,000 after acquiring an additional 2,658,375 shares in the last quarter. Capital International Investors grew its position in 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 worth $638,867,000 after purchasing an additional 2,433,632 shares during the period. Nuveen LLC bought a new stake in EQT in the 1st quarter worth approximately $120,252,000. Finally, Vanguard Group Inc. grew its position in 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 worth $3,955,922,000 after purchasing an additional 1,509,054 shares during the period. Institutional investors own 90.81% of the company's stock.

Analyst Ratings Changes

EQT has been the subject of a number of research analyst reports. UBS Group reaffirmed a "buy" rating on shares of EQT in a research report on Monday, July 14th. Mizuho raised shares of EQT to an "outperform" rating and set a $66.00 target price for the company in a research report on Tuesday, July 8th. Morgan Stanley reaffirmed an "overweight" rating on shares of EQT in a research report on Tuesday, July 15th. Barclays lifted their target price on shares of EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada lifted their target price on shares of EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.95.

Insider Buying and Selling at EQT

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, the executive vice president owned 13,297 shares in the company, valued at approximately $690,646.18. The trade was a 48.33% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.

EQT Stock Up 1.2%

EQT opened at $52.10 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. EQT Corporation has a fifty-two week low of $30.88 and a fifty-two week high of $61.02. The firm's fifty day moving average is $55.35 and its 200 day moving average is $53.12. The stock has a market cap of $32.51 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 0.36 and a beta of 0.59.

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). 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 analysts' expectations of $1.78 billion. During the same quarter last year, the firm posted ($0.08) EPS. On average, sell-side analysts forecast that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be paid a $0.1575 dividend. The ex-dividend date is Wednesday, August 6th. This represents a $0.63 annualized dividend and a 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.

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