KTF Investments LLC Makes New $8.89 Million Investment in EQT Corporation $EQT

Key Points

• KTF Investments LLC bought a new stake of 165,761 shares in EQT valued at about $8.885 million, representing 1.5% of its portfolio and the firm's 23rd largest holding.
• EQT beat quarterly EPS estimates with $2.33 vs. $2.01 consensus on revenue of $3.14 billion, and declared a quarterly dividend of $0.165 (annualized $0.66, ~1.1% yield) while analysts maintain a consensus rating of "Moderate Buy" with an average target of $68.75.
• Insiders have been net sellers, disposing of 61,158 shares worth about $3.74 million in the past 90 days, including CAO Todd James' sale of 32,514 shares (~$1.99 million); corporate insiders now own 0.72% of the company.

KTF Investments LLC bought a new position in shares of EQT Corporation (NYSE:EQT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 165,761 shares of the oil and gas producer's stock, valued at approximately $8,885,000. EQT makes up 1.5% of KTF Investments LLC's portfolio, making the stock its 23rd largest position.

Other institutional investors have also recently made changes to their positions in the company. Aventura Private Wealth LLC purchased a new stake in shares of EQT during the fourth quarter worth $31,000. Fortitude Family Office LLC raised its position in shares of EQT by 95.6% in the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer's stock worth $31,000 after buying an additional 280 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of EQT by 186.4% in the fourth quarter. Sound Income Strategies LLC now owns 1,266 shares of the oil and gas producer's stock worth $64,000 after buying an additional 824 shares in the last quarter. City Holding Co. raised its position in shares of EQT by 1,708.5% in the fourth quarter. City Holding Co. now owns 1,483 shares of the oil and gas producer's stock worth $79,000 after buying an additional 1,401 shares in the last quarter. Finally, Quent Capital LLC purchased a new stake in shares of EQT in the third quarter worth $94,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

Insider Buying and Selling at EQT

In other EQT news, CAO Todd James sold 32,514 shares of the firm's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $61.12, for a total transaction of $1,987,255.68. Following the sale, the chief accounting officer owned 58,796 shares in the company, valued at $3,593,611.52. This trade represents a 35.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sarah Fenton sold 4,876 shares of the firm's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $64.49, for a total value of $314,453.24. Following the sale, the executive vice president owned 52,953 shares in the company, valued at $3,414,938.97. The trade was a 8.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,158 shares of company stock worth $3,742,983 over the last 90 days. Corporate insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

EQT has been the topic of a number of recent analyst reports. Zacks Research downgraded EQT from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 22nd. Piper Sandler increased their price objective on EQT from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Thursday, March 5th. Stephens lowered their price objective on EQT from $78.00 to $73.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 21st. Truist Financial initiated coverage on EQT in a research report on Tuesday, March 24th. They issued a "buy" rating and a $74.00 price objective on the stock. Finally, Capital One Financial increased their price objective on EQT from $58.00 to $64.00 and gave the stock an "overweight" rating in a research report on Thursday, March 26th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $68.75.

EQT Trading Down 0.5%

NYSE EQT opened at $58.61 on Tuesday. The stock's 50-day simple moving average is $61.16 and its two-hundred day simple moving average is $57.53. EQT Corporation has a twelve month low of $48.47 and a twelve month high of $68.24. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $36.66 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.01 and a beta of 0.70.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.32. EQT had a return on equity of 9.74% and a net margin of 31.94%.The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the business posted $1.18 earnings per share. Research analysts forecast that EQT Corporation will post 4.64 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 6th will be given a dividend of $0.165 per share. The ex-dividend date is Wednesday, May 6th. This represents a $0.66 dividend on an annualized basis and a yield of 1.1%. EQT's dividend payout ratio (DPR) is presently 12.52%.

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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