Laffer Tengler Investments Inc. Invests $798,000 in EQT Corporation $EQT

Key Points

• Laffer Tengler Investments Inc. invested approximately $798,000 in EQT Corporation, acquiring 14,930 shares during the first quarter.
• Institutional investors hold over 90% of EQT's stock, with various firms increasing their stakes significantly in the last quarter.
• EQT recently announced a quarterly dividend of $0.1575 per share, with a dividend yield of 1.2% and a payout ratio of 34.05%.

Laffer Tengler Investments Inc. bought a new stake in EQT Corporation (NYSE:EQT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,930 shares of the oil and gas producer's stock, valued at approximately $798,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in EQT by 61.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 29,341 shares of the oil and gas producer's stock worth $1,353,000 after buying an additional 11,181 shares during the last quarter. State of Tennessee Department of Treasury grew its holdings in shares of EQT by 62.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 130,633 shares of the oil and gas producer's stock valued at $6,023,000 after purchasing an additional 50,053 shares during the last quarter. Stifel Financial Corp boosted its position in EQT by 5.8% during the fourth quarter. Stifel Financial Corp now owns 321,518 shares of the oil and gas producer's stock valued at $14,825,000 after buying an additional 17,737 shares during the period. IHT Wealth Management LLC bought a new stake in shares of EQT in the 4th quarter valued at about $207,000. Finally, Hsbc Holdings PLC grew its position in EQT by 45.8% during the 4th quarter. Hsbc Holdings PLC now owns 898,534 shares of the oil and gas producer's stock worth $41,491,000 after acquiring an additional 282,128 shares during the last quarter. Institutional investors own 90.81% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EQT. Jefferies Financial Group reissued a "buy" rating and set a $70.00 price objective (up previously from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Melius started coverage on shares of EQT in a report on Wednesday. They set a "buy" rating and a $64.00 price target for the company. Piper Sandler raised their price target on shares of EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Scotiabank boosted their price objective on shares of EQT from $66.00 to $68.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 13th. Finally, UBS Group increased their target price on shares of EQT from $64.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.71.

EQT Stock Performance

Shares of EQT stock opened at $51.9810 on Friday. EQT Corporation has a 12 month low of $31.45 and a 12 month high of $61.02. The firm has a market capitalization of $32.44 billion, a P/E ratio of 28.10, a P/E/G ratio of 0.37 and a beta of 0.59. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $55.01 and a two-hundred day simple moving average of $53.13.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings data 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). EQT had a net margin of 15.87% and a return on equity of 6.24%. The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same quarter in the previous year, the firm posted ($0.08) EPS. On average, equities analysts forecast that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT's dividend payout ratio is currently 34.05%.

EQT 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.

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