NewEdge Advisors LLC Has $2.04 Million Holdings in EQT Corporation $EQT

Key Points

• NewEdge Advisors LLC increased its stake in EQT Corporation by 26.9%, owning a total of 38,229 shares valued at $2.04 million after purchasing an additional 8,108 shares in the first quarter.
• During the same period, several other institutional investors also expanded their positions in EQT, with Nuveen LLC acquiring a new position valued at approximately $120.25 million and Vanguard Group increasing its stake by 2.1%.
• EQT reported a quarterly earnings miss with an EPS of $0.45 against the consensus estimate of $0.52, alongside revenue of $1.60 billion, which fell short of the expected $1.78 billion.

NewEdge Advisors LLC raised its stake in EQT Corporation (NYSE:EQT - Free Report) by 26.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 38,229 shares of the oil and gas producer's stock after purchasing an additional 8,108 shares during the period. NewEdge Advisors LLC's holdings in EQT were worth $2,043,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nippon Life Global Investors Americas Inc. increased its holdings in EQT by 9.1% in the first quarter. Nippon Life Global Investors Americas Inc. now owns 76,940 shares of the oil and gas producer's stock valued at $4,111,000 after buying an additional 6,390 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of EQT by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,714 shares of the oil and gas producer's stock valued at $3,137,000 after acquiring an additional 3,324 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of EQT by 14.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 19,356 shares of the oil and gas producer's stock valued at $1,034,000 after acquiring an additional 2,411 shares during the last quarter. Interval Partners LP increased its holdings in shares of EQT by 31.2% in the 1st quarter. Interval Partners LP now owns 150,848 shares of the oil and gas producer's stock valued at $8,060,000 after acquiring an additional 35,856 shares during the last quarter. Finally, Duquesne Family Office LLC bought a new stake in EQT during the first quarter valued at $45,915,000. 90.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of EQT in a research report on Tuesday, July 15th. Piper Sandler upped their target price on EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Barclays upped their target price on EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Scotiabank upped their price objective on EQT from $66.00 to $68.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 13th. Finally, Melius Research assumed coverage on EQT in a research note on Wednesday, August 20th. They set a "buy" rating and a $64.00 price objective for the company. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.14.

EQT Trading Up 0.5%

Shares of NYSE:EQT traded up $0.25 during midday trading on Wednesday, reaching $50.20. The company had a trading volume of 2,455,278 shares, compared to its average volume of 8,123,840. 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 1-year low of $32.88 and a 1-year high of $61.02. The firm has a market cap of $31.33 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 0.41 and a beta of 0.58. The company has a fifty day simple moving average of $52.72 and a two-hundred day simple moving average of $53.11.

EQT (NYSE:EQT - Get Free Report) last released its quarterly 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 company 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 earned ($0.08) EPS. Research analysts predict that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th were given a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, August 6th. EQT's dividend payout ratio (DPR) is 34.05%.

Insider Buying and Selling at EQT

In related news, EVP Sarah Fenton sold 12,438 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were 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 directly owned 13,297 shares in the company, valued at approximately $690,646.18. This trade represents a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction that occurred on 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. 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.