Kingsman Wealth Management Inc. Buys New Holdings in EQT Corporation (NYSE:EQT)

Kingsman Wealth Management Inc. bought a new stake in shares of EQT Corporation (NYSE:EQT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 24,030 shares of the oil and gas producer's stock, valued at approximately $1,284,000. EQT accounts for about 0.9% of Kingsman Wealth Management Inc.'s investment portfolio, making the stock its 22nd biggest position.

Several other hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas purchased a new stake in EQT in the 4th quarter valued at about $244,000. Aviva PLC purchased a new position in shares of EQT in the fourth quarter valued at $14,719,000. Axxcess Wealth Management LLC increased its position in EQT by 7.0% during the 1st quarter. Axxcess Wealth Management LLC now owns 6,661 shares of the oil and gas producer's stock worth $356,000 after purchasing an additional 434 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of EQT during the 1st quarter valued at about $226,000. Finally, Exchange Traded Concepts LLC increased its position in EQT by 101.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 9,039 shares of the oil and gas producer's stock worth $483,000 after purchasing an additional 4,559 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EQT shares. Stephens lowered their target price on EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Piper Sandler lifted their price objective on EQT from $35.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Jefferies Financial Group restated a "buy" rating and set a $70.00 target price (up previously from $60.00) on shares of EQT in a research report on Tuesday, July 8th. Scotiabank reaffirmed a "sector perform" rating and set a $66.00 price objective (up from $62.00) on shares of EQT in a research report on Friday, July 11th. Finally, Wall Street Zen cut EQT from a "hold" rating to a "sell" rating in a research report on Monday, April 7th. Two 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $60.63.

EQT Price Performance

Shares of NYSE EQT traded down $5.54 during midday trading on Monday, reaching $53.65. 14,663,791 shares of the company traded hands, compared to its average volume of 7,850,155. The firm has a market cap of $32.13 billion, a PE ratio of 94.12, a PEG ratio of 0.38 and a beta of 0.65. The stock's 50-day simple moving average is $56.63 and its 200-day simple moving average is $52.95. EQT Corporation has a 12 month low of $30.02 and a 12 month high of $61.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57.

EQT (NYSE:EQT - Get Free Report) last released its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.98 by $0.20. EQT had a return on equity of 5.52% and a net margin of 6.59%. The firm had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.16 billion. As a group, equities analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Wednesday, August 6th. EQT's payout ratio is 110.53%.

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.