Nykredit A S Buys Shares of 42,351 EQT Corporation $EQT

Key Points

• Nykredit A/S acquired 42,351 shares of EQT worth approximately $2.25 million in the second quarter. Institutional investors and hedge funds collectively own 90.81% of EQT.
• EQT reported quarterly EPS of $0.39, below the $0.41 analyst consensus, while revenue fell 29.2% year over year to $1.68 billion. The company pays an annualized dividend of $0.66 per share, yielding about 1.2%.
• Analysts maintain a generally positive outlook, with EQT carrying a “Moderate Buy” consensus rating and a $68.10 average price target versus its stated share price of $55.11.

Nykredit A S bought a new stake in shares of EQT Corporation (NYSE:EQT - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 42,351 shares of the oil and gas producer's stock, valued at approximately $2,252,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in EQT in the second quarter valued at $3,204,125,000. Wellington Management Group LLP boosted its stake in EQT by 41.4% during the 2nd quarter. Wellington Management Group LLP now owns 22,565,479 shares of the oil and gas producer's stock valued at $1,199,807,000 after acquiring an additional 6,603,286 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in EQT during the 2nd quarter worth $512,148,000. Bank of America Corp DE grew its holdings in EQT by 7.2% during the 2nd quarter. Bank of America Corp DE now owns 4,240,709 shares of the oil and gas producer's stock worth $225,478,000 after acquiring an additional 284,244 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of EQT in the 2nd quarter worth about $163,705,000. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Stock Down 0.1%

EQT stock opened at $55.11 on Tuesday. The firm has a market cap of $34.47 billion, a price-to-earnings ratio of 12.79 and a beta of 0.58. EQT Corporation has a 1-year low of $47.94 and a 1-year high of $68.24. The firm has a fifty day moving average price of $52.74 and a two-hundred day moving average price of $56.31. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). EQT had a return on equity of 9.31% and a net margin of 28.44%.The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. The company's quarterly revenue was down 29.2% compared to the same quarter last year. Research analysts predict that EQT Corporation will post 3.96 EPS for the current year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th were paid a dividend of $0.165 per share. The ex-dividend date was Wednesday, August 5th. This represents a $0.66 annualized dividend and a yield of 1.2%. EQT's dividend payout ratio is 15.31%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EQT shares. Jefferies Financial Group cut their target price on shares of EQT from $77.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, July 1st. Wall Street Zen downgraded EQT from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Sanford C. Bernstein reiterated an "outperform" rating on shares of EQT in a research note on Thursday, July 30th. Zacks Research raised EQT from a "strong sell" rating to a "hold" rating in a report on Thursday, August 27th. Finally, The Goldman Sachs Group cut their price objective on EQT from $65.00 to $63.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.10.

Insider Transactions at EQT

In other EQT news, CEO Toby Rice sold 175,328 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $55.03, for a total value of $9,648,299.84. Following the transaction, the chief executive officer owned 2,157,865 shares of the company's stock, valued at $118,747,310.95. This trade represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is owned by corporate insiders.

EQT Profile

EQT Corporation NYSE: EQT is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT's primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

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