Mizuho Securities USA LLC Has $2.55 Million Position in EQT Corporation (NYSE:EQT)

Key Points

• Mizuho Securities USA LLC reduced its stake in EQT Corporation by 15.5%, owning 47,776 shares valued at $2.55 million as of the latest SEC filing.
• Brokerages have increased their price targets for EQT, with Barclays raising it from $65 to $68, and analysts view the stock positively with a consensus rating of "Moderate Buy".
• EQT recently announced a quarterly dividend of $0.1575 per share, reflecting an annual yield of 1.2% with a payout ratio of 34.05%.

Mizuho Securities USA LLC reduced its stake in EQT Corporation (NYSE:EQT - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 47,776 shares of the oil and gas producer's stock after selling 8,776 shares during the quarter. Mizuho Securities USA LLC's holdings in EQT were worth $2,553,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wedbush Securities Inc. acquired a new stake in EQT in the 1st quarter worth approximately $216,000. Allianz Asset Management GmbH increased its position in EQT by 36.3% in the 1st quarter. Allianz Asset Management GmbH now owns 205,679 shares of the oil and gas producer's stock worth $10,989,000 after buying an additional 54,779 shares during the period. Kingsman Wealth Management Inc. bought a new position in EQT in the 1st quarter worth approximately $1,284,000. Axxcess Wealth Management LLC increased its position in 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 buying an additional 434 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new position in EQT in the 1st quarter worth approximately $226,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EQT. Barclays lifted their price target on EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Piper Sandler lifted their price target on EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Roth Capital began coverage on EQT in a research report on Tuesday, June 24th. They issued a "buy" rating and a $69.00 price target on the stock. Wells Fargo & Company lifted their price target on EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Finally, UBS Group restated a "buy" rating on shares of EQT in a research report on Monday, July 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, EQT has an average rating of "Moderate Buy" and a consensus price target of $60.84.

Insider Activity

In related news, EVP Sarah Fenton sold 12,438 shares of the company's stock in a transaction dated Friday, July 25th. The shares were 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 in the company, valued at $690,646.18. This represents a 48.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was 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 corporate insiders.

EQT Stock Performance

Shares of NYSE:EQT opened at $51.29 on Monday. The business's fifty day moving average price is $55.70 and its two-hundred day moving average price is $53.13. EQT Corporation has a fifty-two week low of $30.59 and a fifty-two week high of $61.02. The stock has a market capitalization of $32.01 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 0.36 and a beta of 0.59. 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 announced its 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). EQT had a net margin of 15.87% and a return on equity of 6.24%. The business 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. As a group, analysts predict that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th will be given a dividend of $0.1575 per share. The ex-dividend date is Wednesday, August 6th. This represents a $0.63 annualized dividend and a yield of 1.2%. EQT's dividend payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.