Kestra Advisory Services LLC Grows Position in EQT Corporation $EQT

Key Points

• Kestra Advisory Services LLC increased its stake in EQT Corporation by 16.5% during the 1st quarter, bringing its ownership to 58,512 shares valued at approximately $3.1 million.
• EQT Corporation reported quarterly earnings of $0.45 per share, missing analysts' estimates, and had a revenue of $1.60 billion, below the forecast of $1.78 billion.
• The company announced a quarterly dividend of $0.1575 per share, with an upcoming payment date of September 2nd, reflecting an annual yield of 1.2%.

Kestra Advisory Services LLC raised its position in shares of EQT Corporation (NYSE:EQT - Free Report) by 16.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,512 shares of the oil and gas producer's stock after buying an additional 8,278 shares during the quarter. Kestra Advisory Services LLC's holdings in EQT were worth $3,126,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EQT. Castle Hook Partners LP lifted its stake in shares of EQT by 199.5% in the 4th 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 purchasing an additional 2,658,375 shares during the last quarter. Nuveen LLC bought a new stake in shares of EQT in the 1st quarter valued at approximately $120,252,000. Vanguard Group Inc. lifted its stake in shares of 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 valued at $3,955,922,000 after purchasing an additional 1,509,054 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of EQT in the 4th quarter valued at approximately $59,627,000. Finally, Third Point LLC lifted its stake in shares of EQT by 51.3% in the 4th quarter. Third Point LLC now owns 2,950,000 shares of the oil and gas producer's stock valued at $136,024,000 after purchasing an additional 1,000,000 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

EQT Price Performance

Shares of EQT stock opened at $51.38 on Thursday. EQT Corporation has a 52-week low of $31.45 and a 52-week high of $61.02. 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 $32.06 billion, a P/E ratio of 27.77, a P/E/G ratio of 0.41 and a beta of 0.59. The stock has a 50 day moving average price of $54.50 and a 200 day moving average price of $53.13.

EQT (NYSE:EQT - Get Free Report) last issued 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). The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same period in the prior year, the business posted ($0.08) earnings per share. As a group, sell-side analysts predict that EQT Corporation will post 3.27 earnings per share 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 given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.2%. EQT's payout ratio is 34.05%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EQT. Royal Bank Of Canada raised their price objective on EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 8th. Wells Fargo & Company raised their price objective on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Piper Sandler raised their price objective on EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Melius Research began coverage on EQT in a research note on Wednesday, August 20th. They set a "buy" rating and a $64.00 price target for the company. Finally, UBS Group raised their price target on EQT from $64.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $62.14.

Insiders Place Their Bets

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total transaction of $219,594.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of EQT stock in a transaction on Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the sale, the executive vice president directly owned 13,297 shares of the company's stock, valued at approximately $690,646.18. This trade represents a 48.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.65% of the company's stock.

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.

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