EQT Corporation $EQT Shares Sold by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC reduced its stake in EQT Corporation by 16.1%, holding 667,726 shares worth approximately $35.68 million as of the latest reporting period.
• EQT reported a miss in quarterly earnings with $0.45 in earnings per share, below the expected $0.52, and had a revenue of $1.60 billion compared to expectations of $1.78 billion.
• The company declared a quarterly dividend of $0.1575 per share, resulting in an annualized dividend yield of 1.2% with a payout ratio of 34.05%.

MBB Public Markets I LLC cut its holdings in shares of EQT Corporation (NYSE:EQT - Free Report) by 16.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 667,726 shares of the oil and gas producer's stock after selling 127,816 shares during the period. EQT accounts for approximately 3.9% of MBB Public Markets I LLC's holdings, making the stock its 6th biggest holding. MBB Public Markets I LLC owned about 0.11% of EQT worth $35,677,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Wedbush Securities Inc. acquired a new position in EQT in the first quarter valued at approximately $216,000. Allianz Asset Management GmbH raised its position in shares of EQT by 36.3% during the 1st quarter. Allianz Asset Management GmbH now owns 205,679 shares of the oil and gas producer's stock valued at $10,989,000 after acquiring an additional 54,779 shares during the last quarter. Kingsman Wealth Management Inc. acquired a new position in shares of EQT in the 1st quarter valued at $1,284,000. Axxcess Wealth Management LLC boosted its position in shares of EQT by 7.0% in 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 during the last quarter. Finally, Philadelphia Trust Co. grew its stake in shares of EQT by 665.8% during the first quarter. Philadelphia Trust Co. now owns 54,371 shares of the oil and gas producer's stock worth $2,905,000 after purchasing an additional 47,271 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on EQT shares. Roth Capital lowered EQT from a "strong-buy" rating to a "neutral" rating and cut their target price for the company from $75.00 to $57.00 in a research note on Monday, August 18th. UBS Group increased their price target on shares of EQT from $64.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Bank of America boosted their price target on shares of EQT from $63.00 to $80.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Mizuho raised EQT to an "outperform" rating and set a $66.00 target price for the company in a research note on Tuesday, July 8th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $70.00 price objective (up from $60.00) on shares of EQT in a research report on Tuesday, July 8th. Fifteen investment analysts have rated the stock with a Buy rating, five have given 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 $62.14.

EQT Stock Performance

NYSE EQT traded down $0.20 on Thursday, hitting $50.97. 4,499,450 shares of the stock were exchanged, compared to its average volume of 6,210,446. The business's fifty day moving average is $53.03 and its 200 day moving average is $53.03. EQT Corporation has a 52 week low of $31.67 and a 52 week high of $61.02. The company has a market capitalization of $31.81 billion, a PE ratio of 20.97, a P/E/G ratio of 0.42 and a beta of 0.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 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 quarter in the previous year, the business posted ($0.08) EPS. Research analysts anticipate that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th were given a dividend of $0.1575 per share. The ex-dividend date was Wednesday, August 6th. This represents a $0.63 annualized dividend and a yield of 1.2%. EQT's dividend payout ratio (DPR) is 34.05%.

Insider Activity at EQT

In other news, EVP Sarah Fenton sold 12,438 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $219,594.04. The disclosure for this sale can be found here. Company 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.