Neuberger Berman Group LLC Increases Holdings in EQT Corporation (NYSE:EQT)

Key Points

• Neuberger Berman Group LLC increased its stake in EQT Corporation by 10.3%, purchasing an additional 484,671 shares and owning a total of 5,191,780 shares now worth approximately $277 million.
• EQT reported an earnings per share (EPS) of $0.45 for the quarter, which was below the consensus estimate of $0.52, along with a revenue of $1.60 billion compared to expectations of $1.78 billion.
• The company announced a quarterly dividend of $0.1575, with an annualized yield of 1.2%, scheduled to be paid on September 2nd.

Neuberger Berman Group LLC lifted its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 10.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,191,780 shares of the oil and gas producer's stock after acquiring an additional 484,671 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.87% of EQT worth $277,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in EQT by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer's stock valued at $3,955,922,000 after purchasing an additional 1,509,054 shares during the period. Capital International Investors grew its position in EQT by 21.3% in the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock valued at $638,867,000 after purchasing an additional 2,433,632 shares during the period. Northern Trust Corp grew its position in EQT by 18.0% in the 4th quarter. Northern Trust Corp now owns 5,579,269 shares of the oil and gas producer's stock valued at $257,260,000 after purchasing an additional 851,087 shares during the period. Charles Schwab Investment Management Inc. grew its position in EQT by 2.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,204,106 shares of the oil and gas producer's stock valued at $278,055,000 after purchasing an additional 110,249 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in EQT by 7.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,658,814 shares of the oil and gas producer's stock valued at $251,017,000 after purchasing an additional 311,154 shares during the period. 90.81% of the stock is currently owned by institutional investors.

Insider Activity at EQT

In related news, Director Vicky A. Bailey sold 4,259 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total transaction of $219,594.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of the 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 owned 13,297 shares in the company, valued at $690,646.18. The trade was a 48.33% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Roth Capital initiated coverage on shares of EQT in a report on Tuesday, June 24th. They set a "buy" rating and a $69.00 price objective on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of EQT in a report on Tuesday, July 15th. UBS Group reaffirmed a "buy" rating on shares of EQT in a report on Monday, July 14th. Finally, Piper Sandler lifted their price objective on shares of EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, EQT has a consensus rating of "Moderate Buy" and an average price target of $60.95.

EQT Stock Performance

Shares of NYSE EQT traded up $0.76 during trading on Friday, hitting $52.81. The company had a trading volume of 10,048,095 shares, compared to its average volume of 9,111,218. The stock has a 50 day simple moving average of $55.28 and a 200 day simple moving average of $53.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. EQT Corporation has a 12 month low of $31.42 and a 12 month high of $61.02. The firm has a market capitalization of $32.96 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 0.36 and a beta of 0.59.

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). EQT had a return on equity of 6.24% and a net margin of 15.87%. The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same period in the prior year, the firm posted ($0.08) earnings per share. As a group, analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The company 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. This represents a $0.63 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT's dividend payout ratio is 34.05%.

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.