Miller Howard Investments Inc. NY Sells 5,535 Shares of EQT Corporation $EQT

Key Points

• Miller Howard Investments Inc. NY has reduced its stake in EQT Corporation by 7.7%, now holding 66,577 shares valued at approximately $3.88 million.
• Investment analysts have set a consensus price target of $61.86 for EQT, with the stock rated as a "Moderate Buy" by a majority of analysts.
• EQT recently announced a dividend of $0.1575 per share, translating to an annual yield of 1.3% and a payout ratio of 34.05%.

Miller Howard Investments Inc. NY decreased its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,577 shares of the oil and gas producer's stock after selling 5,535 shares during the quarter. Miller Howard Investments Inc. NY's holdings in EQT were worth $3,883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wedbush Securities Inc. purchased a new stake in EQT during the first quarter valued at about $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 acquiring an additional 54,779 shares in the last quarter. Kingsman Wealth Management Inc. acquired a new stake in EQT in the first quarter valued at approximately $1,284,000. Axxcess Wealth Management LLC raised its stake in EQT by 7.0% during the first 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 period. Finally, Philadelphia Trust Co. increased its position 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 acquiring an additional 47,271 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction of $646,029.72. Following the transaction, the executive vice president owned 13,297 shares of the company's stock, valued at approximately $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 this hyperlink. Also, Director Vicky A. Bailey sold 4,259 shares of the company's stock in a transaction dated 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. Insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Roth Capital downgraded EQT from a "strong-buy" rating to a "neutral" rating and decreased their target price for the stock from $75.00 to $57.00 in a research report on Monday, August 18th. Melius initiated coverage on EQT in a report on Wednesday, August 20th. They set a "buy" rating and a $64.00 price target for the company. UBS Group lifted their price target on EQT from $64.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Royal Bank Of Canada increased their price target on shares of EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 8th. Finally, Mizuho decreased their target price on EQT from $66.00 to $60.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, EQT presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.81.

EQT Stock Up 1.4%

Shares of EQT stock traded up $0.70 on Monday, hitting $49.89. The company's stock had a trading volume of 8,382,431 shares, compared to its average volume of 8,245,106. EQT Corporation has a fifty-two week low of $34.89 and a fifty-two week high of $61.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $31.13 billion, a price-to-earnings ratio of 26.97, a P/E/G ratio of 0.40 and a beta of 0.58. The firm's fifty day moving average price is $52.40 and its 200-day moving average price is $53.16.

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

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th were issued a $0.1575 dividend. The ex-dividend date was Wednesday, August 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.3%. EQT's dividend payout ratio (DPR) 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.