EQT Corporation (NYSE:EQT) Shares Purchased by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in EQT Corporation by 12.7%, acquiring an additional 36,531 shares during the first quarter, bringing its total ownership to 323,295 shares valued at approximately $17.27 million.
• Several institutional investors, including the University of Texas Texas AM Investment Management Co., significantly increased their holdings in EQT, with some raising their stakes by more than 250% in the last quarter.
• EQT Corporation recently declared a quarterly dividend of $0.1575 per share, which amounts to an annualized yield of 1.2% and is scheduled for payment on September 2nd.

LPL Financial LLC lifted its stake in EQT Corporation (NYSE:EQT - Free Report) by 12.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 323,295 shares of the oil and gas producer's stock after purchasing an additional 36,531 shares during the quarter. LPL Financial LLC owned about 0.05% of EQT worth $17,274,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wedbush Securities Inc. bought a new stake in shares of EQT in the first quarter worth approximately $216,000. Allianz Asset Management GmbH boosted its holdings in EQT by 36.3% in the first quarter. Allianz Asset Management GmbH now owns 205,679 shares of the oil and gas producer's stock worth $10,989,000 after purchasing an additional 54,779 shares during the last quarter. Kingsman Wealth Management Inc. bought a new stake in EQT in the 1st quarter worth approximately $1,284,000. Aviva PLC purchased a new stake in EQT during the 4th quarter valued at $14,719,000. Finally, Axxcess Wealth Management LLC raised its stake 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 valued at $356,000 after buying an additional 434 shares during the last quarter. Institutional investors own 90.81% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on EQT. Piper Sandler boosted their target price on shares of EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Barclays raised their target price on EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Roth Capital started coverage on EQT in a report on Tuesday, June 24th. They set a "buy" rating and a $69.00 price target for the company. Wells Fargo & Company raised their price objective on EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. Finally, Scotiabank reissued a "sector perform" rating and issued a $66.00 target price (up from $62.00) on shares of EQT in a report on Friday, July 11th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $60.84.

EQT Stock Down 0.4%

NYSE:EQT traded down $0.20 during mid-day trading on Thursday, reaching $51.26. The company's stock had a trading volume of 4,371,580 shares, compared to its average volume of 8,451,447. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average of $55.77 and a 200-day moving average of $53.15. EQT Corporation has a 1 year low of $30.25 and a 1 year high of $61.02. The firm has a market capitalization of $31.99 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 0.35 and a beta of 0.59.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same quarter in the prior year, the business posted ($0.08) earnings per share. Equities research analysts forecast that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be issued 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 dividend yield of 1.2%. EQT's payout ratio is 34.05%.

Insiders Place Their Bets

In other news, EVP Sarah Fenton sold 12,438 shares of the company's 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 $690,646.18. This represents a 48.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total transaction of $219,594.04. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.

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.