Hartree Partners LP Purchases New Position in EQT Corporation $EQT

Key Points

• Hartree Partners LP made a significant investment of $10.94 million in EQT Corporation, acquiring approximately 204,672 shares and representing 3.9% of its portfolio.
• EQT recently reported a quarterly earnings per share of $0.45, missing estimates by $0.07, with revenue of $1.60 billion compared to expected figures of $1.78 billion.
• The company has a current annualized dividend yield of 1.2%, with a quarterly dividend of $0.1575 per share scheduled for payment on September 2nd.

Hartree Partners LP bought a new position in EQT Corporation (NYSE:EQT - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 204,672 shares of the oil and gas producer's stock, valued at approximately $10,936,000. EQT makes up 3.9% of Hartree Partners LP's portfolio, making the stock its 8th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wedbush Securities Inc. purchased a new position in EQT in the first quarter worth $216,000. Allianz Asset Management GmbH grew its position in EQT by 36.3% in the first quarter. Allianz Asset Management GmbH now owns 205,679 shares of the oil and gas producer's stock worth $10,989,000 after acquiring an additional 54,779 shares in the last quarter. Kingsman Wealth Management Inc. purchased a new position in EQT in the first quarter worth $1,284,000. Axxcess Wealth Management LLC grew its position in EQT by 7.0% in the first quarter. Axxcess Wealth Management LLC now owns 6,661 shares of the oil and gas producer's stock worth $356,000 after acquiring an additional 434 shares in the last quarter. Finally, Philadelphia Trust Co. grew its position in EQT by 665.8% in the first quarter. Philadelphia Trust Co. now owns 54,371 shares of the oil and gas producer's stock worth $2,905,000 after acquiring an additional 47,271 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at EQT

In related news, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $51.94, for a total value 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. This represents a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total transaction of $219,594.04. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EQT has been the subject of several analyst reports. Piper Sandler upped their price target on shares of EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Morgan Stanley restated an "overweight" rating on shares of EQT in a research report on Tuesday, July 15th. Scotiabank upped their price target on shares of EQT from $66.00 to $68.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 13th. UBS Group upped their price target on shares of EQT from $64.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Finally, Mizuho upgraded shares of EQT to an "outperform" rating and set a $66.00 price target for the company in a research report on Tuesday, July 8th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $62.14.

EQT Trading Down 2.5%

Shares of EQT stock traded down $1.33 during trading on Wednesday, reaching $51.38. 7,540,441 shares of the stock were exchanged, compared to its average volume of 8,303,793. 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 stock's fifty day moving average is $54.66 and its 200 day moving average is $53.14. The firm has a market cap of $32.06 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 0.40 and a beta of 0.59. EQT Corporation has a 1 year low of $31.45 and a 1 year high of $61.02.

EQT (NYSE:EQT - Get Free Report) last released 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 company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the company earned ($0.08) earnings per share. As a group, equities research analysts expect that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently declared 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. This represents a $0.63 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT's dividend payout ratio is presently 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.