Jupiter Topco LLC Takes Position in EQT Corporation $EQT

Jupiter Topco LLC purchased a new stake in EQT Corporation (NYSE:EQT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 204,096 shares of the oil and gas producer's stock, valued at approximately $10,851,000.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in EQT in the 2nd quarter valued at $3,204,125,000. Bank of New York Mellon Corp acquired a new stake in shares of EQT during the 2nd quarter worth $512,148,000. The Manufacturers Life Insurance Company bought a new position in shares of EQT in the second quarter worth $163,705,000. Legal & General Group Plc bought a new position in shares of EQT in the second quarter worth $127,420,000. Finally, Deutsche Bank AG acquired a new position in EQT in the second quarter valued at about $119,461,000. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Stock Down 0.4%

Shares of NYSE EQT opened at $54.56 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. The company has a market cap of $34.13 billion, a price-to-earnings ratio of 12.66 and a beta of 0.58. EQT Corporation has a 12 month low of $47.94 and a 12 month high of $68.24. The stock has a 50-day moving average price of $52.33 and a two-hundred day moving average price of $56.40.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. The company's revenue for the quarter was down 29.2% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. As a group, analysts forecast that EQT Corporation will post 3.96 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. EQT's payout ratio is presently 15.31%.

Analyst Ratings Changes

Several research firms recently weighed in on EQT. Zacks Research raised shares of EQT from a "strong sell" rating to a "hold" rating in a research report on Thursday. Jefferies Financial Group dropped their target price on shares of EQT from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday, July 1st. JPMorgan Chase & Co. reduced their price target on shares of EQT from $72.00 to $68.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 23rd. The Goldman Sachs Group decreased their price objective on shares of EQT from $65.00 to $63.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Finally, Morgan Stanley lowered their price objective on shares of EQT from $68.00 to $67.00 and set an "overweight" rating for the company in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.10.

Insider Activity

In other news, CEO Toby Z. Rice sold 175,328 shares of the company's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the transaction, the chief executive officer directly owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. This represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 274,042 shares of company stock worth $15,005,076 in the last three months. 0.72% of the stock is currently owned by corporate insiders.

EQT Profile

EQT Corporation NYSE: EQT is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT's primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

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