Praxis Investment Management Inc. Has $1.88 Million Holdings in EQT Corporation $EQT

Key Points

• Praxis Investment Management Inc. increased its stake in EQT Corporation by 18.0%, owning 32,210 shares valued at approximately $1.88 million as per the latest SEC filings.
• EQT Corporation reported earnings per share of $0.45 for the latest quarter, falling short of estimates, with a revenue of $1.60 billion compared to the expected $1.78 billion.
• The company announced a quarterly dividend of $0.165 per share, marking an increase from the previous $0.16 dividend, with a current yield of 1.2%.

Praxis Investment Management Inc. lifted its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 18.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,210 shares of the oil and gas producer's stock after buying an additional 4,910 shares during the period. Praxis Investment Management Inc.'s holdings in EQT were worth $1,878,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wedbush Securities Inc. bought a new stake in shares of EQT in the first quarter worth $216,000. Allianz Asset Management GmbH grew its stake in shares of EQT by 36.3% in the first quarter. Allianz Asset Management GmbH now owns 205,679 shares of the oil and gas producer's stock worth $10,989,000 after purchasing an additional 54,779 shares during the last quarter. Kingsman Wealth Management Inc. bought a new stake in shares of EQT in the first quarter worth $1,284,000. Axxcess Wealth Management LLC grew its stake in shares of EQT by 7.0% in the first quarter. Axxcess Wealth Management LLC now owns 6,661 shares of the oil and gas producer's stock worth $356,000 after purchasing an additional 434 shares during the last quarter. Finally, Philadelphia Trust Co. grew its stake in shares of EQT by 665.8% in the first quarter. Philadelphia Trust Co. now owns 54,371 shares of the oil and gas producer's stock worth $2,905,000 after purchasing an additional 47,271 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Price Performance

EQT stock opened at $53.17 on Friday. The stock has a market capitalization of $33.18 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 0.48 and a beta of 0.50. The company's 50-day moving average is $52.44 and its 200-day moving average is $53.51. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. EQT Corporation has a 1 year low of $35.44 and a 1 year high of $61.02.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same period last year, the company earned ($0.08) EPS. Equities research analysts expect that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 5th will be given a dividend of $0.165 per share. This is a boost from EQT's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. EQT's payout ratio is currently 34.05%.

Insider Transactions at EQT

In other news, Director Vicky A. Bailey sold 4,259 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total transaction of $219,594.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction of $646,029.72. Following the transaction, the executive vice president directly owned 13,297 shares in the company, valued at $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 corporate insiders.

Analyst Ratings Changes

EQT has been the topic of several analyst reports. Citigroup boosted their price objective on shares of EQT from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Mizuho cut their price target on shares of EQT from $66.00 to $60.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Bank of America upped their price target on shares of EQT from $63.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. Barclays cut their price target on shares of EQT from $68.00 to $67.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 7th. Finally, Roth Capital cut shares of 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 research report on Monday, August 18th. Seventeen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $63.50.

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.

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