National Pension Service Sells 105,216 Shares of EQT Corporation $EQT

Key Points

• The National Pension Service reduced its stock holdings in EQT Corporation by 12.1%, now owning approximately 764,797 shares valued at $40.86 million.
• Analysts have mixed ratings on EQT, with a consensus average rating of "Moderate Buy" and a target price of $60.95.
• EQT announced a quarterly dividend of $0.1575 per share, reflecting a 1.2% yield and a payout ratio of 34.05%.

National Pension Service trimmed its position in EQT Corporation (NYSE:EQT - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 764,797 shares of the oil and gas producer's stock after selling 105,216 shares during the quarter. National Pension Service owned 0.13% of EQT worth $40,863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. increased its stake in shares of EQT by 6.1% in the first quarter. Resona Asset Management Co. Ltd. now owns 173,674 shares of the oil and gas producer's stock worth $9,268,000 after buying an additional 10,024 shares during the period. Gemsstock Ltd. purchased a new position in shares of EQT in the first quarter worth $9,270,000. Westpac Banking Corp increased its stake in shares of EQT by 293.0% in the first quarter. Westpac Banking Corp now owns 11,287 shares of the oil and gas producer's stock worth $603,000 after buying an additional 8,415 shares during the period. Public Sector Pension Investment Board increased its position in EQT by 3.1% during the 1st quarter. Public Sector Pension Investment Board now owns 159,583 shares of the oil and gas producer's stock valued at $8,527,000 after purchasing an additional 4,767 shares during the period. Finally, Cypress Capital Group purchased a new position in EQT during the 1st quarter valued at $223,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other EQT news, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

EQT Stock Up 1.4%

EQT stock traded up $0.7020 during mid-day trading on Wednesday, reaching $51.2420. The stock had a trading volume of 2,310,732 shares, compared to its average volume of 8,347,849. The company has a market capitalization of $31.98 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 0.35 and a beta of 0.59. The company has a 50-day moving average price of $55.13 and a two-hundred day moving average price of $53.14. EQT Corporation has a one year low of $31.45 and a one year 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.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $1.60 billion during 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 firm earned ($0.08) EPS. On average, analysts expect that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be paid 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 currently 34.05%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EQT. Royal Bank Of Canada boosted their price objective on shares of EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 8th. Piper Sandler boosted their price objective 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. Mizuho raised shares of EQT to an "outperform" rating and set a $66.00 target price on the stock in a research report on Tuesday, July 8th. Roth Capital downgraded shares of EQT from a "strong-buy" rating to a "neutral" rating and reduced their target price for the stock from $75.00 to $57.00 in a research report on Monday. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $70.00 target price (up from $60.00) on shares of EQT in a research report on Tuesday, July 8th. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.71.

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.