EQT Corporation $EQT Shares Purchased by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd increased its stake in EQT Corporation by 10.2%, acquiring a total of 96,218 shares valued at approximately $5.14 million.
• Numerous institutional investors, including Nuveen LLC and Vanguard Group Inc., have also made significant investments in EQT, indicating strong institutional interest.
• Equities analysts have provided mixed ratings on EQT, with 15 recommending a buy, while analysts have varied price targets ranging from $57.00 to $80.00 per share.

IFM Investors Pty Ltd grew its holdings in EQT Corporation (NYSE:EQT - Free Report) by 10.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,218 shares of the oil and gas producer's stock after buying an additional 8,918 shares during the period. IFM Investors Pty Ltd's holdings in EQT were worth $5,141,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of EQT. Captrust Financial Advisors raised its position in shares of EQT by 41.5% in the fourth quarter. Captrust Financial Advisors now owns 12,766 shares of the oil and gas producer's stock valued at $589,000 after buying an additional 3,746 shares during the last quarter. Focus Partners Wealth increased its position in shares of EQT by 29.7% during the fourth quarter. Focus Partners Wealth now owns 19,848 shares of the oil and gas producer's stock valued at $915,000 after acquiring an additional 4,544 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of EQT by 2.8% during the fourth quarter. Janus Henderson Group PLC now owns 49,785 shares of the oil and gas producer's stock valued at $2,296,000 after acquiring an additional 1,367 shares during the last quarter. OMERS ADMINISTRATION Corp increased its position in shares of EQT by 29.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 17,733 shares of the oil and gas producer's stock valued at $818,000 after acquiring an additional 4,029 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of EQT by 14.6% during the fourth quarter. Nuveen Asset Management LLC now owns 1,530,008 shares of the oil and gas producer's stock valued at $70,549,000 after acquiring an additional 194,438 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EQT

In other EQT news, EVP Sarah Fenton sold 12,438 shares of the company's 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 transaction, the executive vice president directly owned 13,297 shares in the company, valued at approximately $690,646.18. This represents a 48.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vicky A. Bailey sold 4,259 shares of the company's stock in a transaction dated 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 currently owned by corporate insiders.

EQT Price Performance

Shares of NYSE:EQT traded up $0.13 on Wednesday, reaching $50.08. 3,594,893 shares of the company were exchanged, compared to its average volume of 8,130,015. 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 Corporation has a 1-year low of $32.88 and a 1-year high of $61.02. The firm has a market cap of $31.26 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.58. The company has a 50-day moving average of $52.72 and a 200-day moving average of $53.11.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.78 billion. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. Equities analysts forecast that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th were issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Wednesday, August 6th. EQT's dividend payout ratio is 34.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Melius assumed coverage on shares of EQT in a research report on Wednesday, August 20th. They set a "buy" rating and a $64.00 price target for the company. Wells Fargo & Company raised their price objective on shares of EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Royal Bank Of Canada raised their price objective on shares of EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 8th. Scotiabank raised their price objective on shares of EQT from $66.00 to $68.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 13th. Finally, Piper Sandler raised their price objective on shares of EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.14.

About EQT

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.