Parallel Advisors LLC Has $1.13 Million Stake in EQT Corporation $EQT

Key Points

• Parallel Advisors LLC has reduced its stake in EQT Corporation by 29.1% during the second quarter, owning 19,419 shares valued at approximately $1.13 million.
• Several hedge funds, including Janus Henderson Group PLC and Tidal Investments LLC, have increased their holdings in EQT recently, showcasing a mixed trend among institutional investors.
• Analysts have varied opinions on EQT, with ratings ranging from "buy" to "sell," and Bank of America has recently increased its price target for the stock from $63.00 to $80.00.

Parallel Advisors LLC reduced its holdings in shares of EQT Corporation (NYSE:EQT - Free Report) by 29.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,419 shares of the oil and gas producer's stock after selling 7,984 shares during the quarter. Parallel Advisors LLC's holdings in EQT were worth $1,133,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new stake in shares of EQT in the 1st quarter valued at approximately $35,000. Harbour Investments Inc. boosted its holdings in shares of EQT by 48.4% in the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock valued at $37,000 after buying an additional 226 shares during the last quarter. University of Texas Texas AM Investment Management Co. boosted its holdings in shares of EQT by 47.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock valued at $44,000 after buying an additional 310 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of EQT in the 4th quarter valued at approximately $55,000. Finally, Capital A Wealth Management LLC acquired a new stake in EQT during the 4th quarter valued at $72,000. 90.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on EQT shares. Roth Capital downgraded EQT from a "strong-buy" rating to a "neutral" rating and cut their price target for the company from $75.00 to $57.00 in a report on Monday, August 18th. Bank of America raised their price target on EQT from $63.00 to $80.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Mizuho cut their price target on EQT from $66.00 to $60.00 and set an "outperform" rating for the company in a report on Monday. Morgan Stanley reaffirmed an "overweight" rating on shares of EQT in a report on Tuesday, July 15th. Finally, Piper Sandler raised their price target on EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.86.

Insider Transactions at EQT

In related news, Director Vicky A. Bailey sold 4,259 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the completion of the transaction, the executive vice president directly owned 13,297 shares of the company's stock, valued at approximately $690,646.18. This trade represents a 48.33% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.

EQT Stock Performance

Shares of EQT traded down $0.68 during midday trading on Thursday, reaching $49.31. 8,326,694 shares of the stock were exchanged, compared to its average volume of 6,109,794. EQT Corporation has a twelve month low of $33.82 and a twelve month high of $61.02. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. The company has a market cap of $30.77 billion, a P/E ratio of 26.65, a PEG ratio of 0.41 and a beta of 0.58. The stock's 50 day simple moving average is $52.52 and its 200 day simple moving average is $53.10.

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). The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same period last year, the firm earned ($0.08) EPS. On average, sell-side analysts expect that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th were paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, August 6th. EQT's 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.