Quantbot Technologies LP Takes Position in EQT Corporation $EQT

Key Points

• Quantbot Technologies LP has acquired 316,520 shares of EQT Corporation, valued at approximately $16.9 million, making EQT its 17th largest holding.
• EQT Corporation reported a loss of earnings per share of $0.45 in the latest quarter, missing estimates of $0.52, alongside a revenue of $1.60 billion.
• The company is set to pay a quarterly dividend of $0.1575 per share, equating to a 1.2% annual yield, with the ex-dividend date on August 6th.

Quantbot Technologies LP bought a new position in EQT Corporation (NYSE:EQT - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 316,520 shares of the oil and gas producer's stock, valued at approximately $16,912,000. EQT accounts for about 0.5% of Quantbot Technologies LP's investment portfolio, making the stock its 17th largest position. Quantbot Technologies LP owned approximately 0.05% of EQT at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Northern Trust Corp grew its position in EQT by 2.0% in the 1st quarter. Northern Trust Corp now owns 5,692,985 shares of the oil and gas producer's stock worth $304,176,000 after purchasing an additional 113,716 shares during the period. Brooklyn Investment Group boosted its stake in shares of EQT by 49.6% during the 1st quarter. Brooklyn Investment Group now owns 2,411 shares of the oil and gas producer's stock worth $129,000 after acquiring an additional 799 shares during the last quarter. Algert Global LLC purchased a new position in shares of EQT during the 1st quarter worth $1,770,000. Raymond James Financial Inc. boosted its stake in shares of EQT by 3.3% during the 1st quarter. Raymond James Financial Inc. now owns 2,552,699 shares of the oil and gas producer's stock worth $136,391,000 after acquiring an additional 81,999 shares during the last quarter. Finally, Philadelphia Trust Co. boosted its stake in shares of EQT by 665.8% during the 1st quarter. Philadelphia Trust Co. now owns 54,371 shares of the oil and gas producer's stock worth $2,905,000 after acquiring an additional 47,271 shares during the last quarter. Institutional investors own 90.81% of the company's stock.

EQT Trading Down 0.3%

Shares of NYSE:EQT traded down $0.1340 during trading on Friday, reaching $51.9160. 4,768,002 shares of the company were exchanged, compared to its average volume of 8,321,056. The firm has a market capitalization of $32.40 billion, a PE ratio of 28.06, a P/E/G ratio of 0.37 and a beta of 0.59. The business's fifty day simple moving average is $55.01 and its 200-day simple moving average is $53.13. EQT Corporation has a 12-month low of $31.45 and a 12-month high of $61.02. 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 (NYSE:EQT - Get Free Report) last issued its 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). EQT had a return on equity of 6.24% and a net margin of 15.87%.The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same period last year, the business posted ($0.08) earnings per share. On average, research analysts anticipate that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT's payout ratio is currently 34.05%.

Insider Buying and Selling at EQT

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Sarah Fenton sold 12,438 shares of EQT stock in a transaction on Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the transaction, the executive vice president directly owned 13,297 shares in the company, valued at $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on EQT. Melius began coverage on shares of EQT in a research note on Wednesday. They set a "buy" rating and a $64.00 price target on the stock. Royal Bank Of Canada lifted their price target on shares of EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 8th. UBS Group lifted their price target on shares of EQT from $64.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday. Jefferies Financial Group restated a "buy" rating and set a $70.00 target price (up previously from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Finally, Morgan Stanley restated an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. Fifteen investment 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $62.14.

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.