Pinnacle Wealth Planning Services Inc. Takes $337,000 Position in EQT Corporation $EQT

Key Points

• Pinnacle Wealth Planning Services Inc. acquired 6,306 shares of EQT Corporation during the first quarter, valued at approximately $337,000.
• Research analysts have a consensus rating of "Moderate Buy" for EQT, with 15 analysts giving it a Buy rating and a target price of $62.14.
• EQT announced a quarterly dividend of $0.1575 per share, with an ex-dividend date of August 6th, representing a 1.2% dividend yield.

Pinnacle Wealth Planning Services Inc. bought a new position in EQT Corporation (NYSE:EQT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,306 shares of the oil and gas producer's stock, valued at approximately $337,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zions Bancorporation National Association UT purchased a new stake in EQT during the 1st quarter valued at about $35,000. Harbour Investments Inc. boosted its holdings in EQT by 48.4% during the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock valued at $37,000 after acquiring an additional 226 shares during the period. University of Texas Texas AM Investment Management Co. boosted its holdings in EQT by 47.7% during 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 acquiring an additional 310 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in EQT during the 4th quarter valued at about $55,000. Finally, Colonial Trust Co SC boosted its holdings in EQT by 255.5% during the 4th quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock valued at $66,000 after acquiring an additional 1,022 shares during the period. Hedge funds and other institutional investors own 90.81% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on EQT shares. Melius started coverage on EQT in a report on Wednesday, August 20th. They set a "buy" rating and a $64.00 target price for the company. Barclays increased their price target on shares of EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Roth Capital lowered EQT from a "strong-buy" rating to a "neutral" rating and lowered their price objective for the company from $75.00 to $57.00 in a research report on Monday, August 18th. Royal Bank Of Canada raised their price objective on EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company raised their price objective on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $62.14.

Insider Activity at EQT

In other news, EVP Sarah Fenton sold 12,438 shares of the company's stock in a transaction 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 owned 13,297 shares of the company's stock, valued at $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.

EQT Trading Down 1.7%

EQT stock traded down $0.88 during midday trading on Wednesday, reaching $51.50. 5,245,592 shares of the company traded hands, compared to its average volume of 8,268,838. EQT Corporation has a 52-week low of $31.45 and a 52-week high of $61.02. The business has a 50 day moving average of $53.74 and a 200-day moving average of $53.09. The firm has a market capitalization of $32.14 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 0.41 and a beta of 0.58. 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 (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 analysts' expectations of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same quarter in the previous year, the firm posted ($0.08) EPS. As a group, sell-side analysts expect that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

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 dividend of $0.1575 per share. The ex-dividend date was Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.2%. EQT's dividend payout ratio (DPR) is 34.05%.

EQT Company 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.