HB Wealth Management LLC Acquires 10,765 Shares of EQT Corporation (NYSE:EQT)

Key Points

• HB Wealth Management LLC increased its holdings in EQT Corporation by 60.7%, bringing the total valuation of shares to $1.52 million as of the end of the last quarter.
• Multiple institutional investors, including Applied Finance Capital Management LLC and Assetmark Inc., have significantly raised their positions in EQT during the first quarter, reflecting a strong interest in the company.
• EQT Corporation reported an earnings miss for the last quarter, with earnings per share of $0.45 compared to the consensus estimate of $0.52, and a net margin of 15.87%.

HB Wealth Management LLC lifted its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 60.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 28,502 shares of the oil and gas producer's stock after acquiring an additional 10,765 shares during the period. HB Wealth Management LLC's holdings in EQT were worth $1,523,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Larson Financial Group LLC lifted its stake in shares of EQT by 14.1% in the 1st quarter. Larson Financial Group LLC now owns 1,582 shares of the oil and gas producer's stock valued at $85,000 after purchasing an additional 196 shares during the period. Fidelis Capital Partners LLC grew its stake in EQT by 2.6% in the first quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer's stock worth $416,000 after purchasing an additional 207 shares during the period. Generali Investments Management Co LLC raised its holdings in EQT by 14.1% in the first quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer's stock worth $91,000 after purchasing an additional 211 shares in the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in EQT by 3.9% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer's stock valued at $309,000 after buying an additional 219 shares during the period. Finally, Huntington National Bank boosted its holdings in shares of EQT by 7.4% during the 4th quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer's stock valued at $151,000 after buying an additional 224 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Performance

Shares of EQT stock traded down $1.41 during mid-day trading on Friday, reaching $52.34. 3,253,774 shares of the company's stock traded hands, compared to its average volume of 8,501,143. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $32.66 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 0.37 and a beta of 0.65. EQT Corporation has a 12 month low of $30.02 and a 12 month high of $61.02. The firm has a 50 day moving average price of $56.17 and a two-hundred day moving average price of $53.17.

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 the consensus estimate of $0.52 by ($0.07). The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same period in the prior year, the firm posted ($0.08) EPS. On average, research analysts forecast that EQT Corporation will post 3.27 EPS for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be paid a dividend of $0.1575 per share. The ex-dividend date is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.2%. EQT's dividend payout ratio (DPR) is presently 34.05%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EQT. Piper Sandler increased their price target on shares of EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Barclays upped their price objective on shares of EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. UBS Group reiterated a "buy" rating on shares of EQT in a report on Monday, July 14th. Wells Fargo & Company boosted their price target on EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Finally, Royal Bank Of Canada increased their price objective on shares of EQT from $55.00 to $60.00 and gave the company 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 issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $60.84.

Insider Buying and Selling

In other EQT news, EVP Sarah Fenton sold 12,438 shares of EQT stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $51.94, for a total transaction of $646,029.72. Following the transaction, the executive vice president owned 13,297 shares of the company's stock, valued at $690,646.18. The trade was a 48.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.65% of the company's stock.

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.