Reaves W H & Co. Inc. Grows Stock Position in EQT Corporation $EQT

Key Points

• Reaves W H & Co. Inc. boosted its EQT stake by 12.9% in the fourth quarter, adding 132,741 shares and bringing its total holding to 1,161,975 shares worth about $62.3 million.
• EQT reported stronger-than-expected earnings for the latest quarter, posting $2.33 EPS versus the $2.01 consensus estimate while revenue came in at $3.14 billion, in line with forecasts.
• The company declared a quarterly dividend of $0.165 per share, payable June 1, which works out to a 1.2% annualized yield. Analysts remain generally upbeat, with a consensus rating of “Moderate Buy” and a price target of $68.83.

Reaves W H & Co. Inc. increased its holdings in shares of EQT Corporation (NYSE:EQT - Free Report) by 12.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,161,975 shares of the oil and gas producer's stock after acquiring an additional 132,741 shares during the period. EQT makes up approximately 1.1% of Reaves W H & Co. Inc.'s portfolio, making the stock its 28th biggest holding. Reaves W H & Co. Inc. owned 0.19% of EQT worth $62,282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aventura Private Wealth LLC acquired a new position in EQT during the fourth quarter worth $31,000. Fortitude Family Office LLC grew its holdings in EQT by 95.6% during the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer's stock worth $31,000 after acquiring an additional 280 shares during the period. Elyxium Wealth LLC acquired a new position in EQT during the fourth quarter worth $49,000. Sound Income Strategies LLC grew its holdings in EQT by 186.4% during the fourth quarter. Sound Income Strategies LLC now owns 1,266 shares of the oil and gas producer's stock worth $64,000 after acquiring an additional 824 shares during the period. Finally, City Holding Co. grew its holdings in EQT by 1,708.5% during the fourth quarter. City Holding Co. now owns 1,483 shares of the oil and gas producer's stock worth $79,000 after acquiring an additional 1,401 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Stock Down 0.0%

EQT stock opened at $54.91 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $34.35 billion, a price-to-earnings ratio of 10.42 and a beta of 0.55. EQT Corporation has a fifty-two week low of $48.47 and a fifty-two week high of $68.24. The stock's fifty day moving average is $59.31 and its two-hundred day moving average is $57.93.

EQT (NYSE:EQT - Get Free Report) last posted its earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.32. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. EQT had a return on equity of 9.74% and a net margin of 31.94%.During the same quarter in the prior year, the company earned $1.18 earnings per share. Analysts predict that EQT Corporation will post 4.63 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 6th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $0.66 annualized dividend and a yield of 1.2%. EQT's dividend payout ratio is 12.52%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wolfe Research upped their price objective on EQT from $64.00 to $69.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. Piper Sandler upped their price objective on EQT from $50.00 to $55.00 and gave the stock a "neutral" rating in a report on Thursday, March 5th. Weiss Ratings lowered EQT from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, May 19th. Barclays upped their price objective on EQT from $67.00 to $69.00 and gave the stock an "overweight" rating in a report on Monday, March 16th. Finally, Sanford C. Bernstein dropped their price objective on EQT from $73.00 to $69.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, EQT currently has an average rating of "Moderate Buy" and a consensus price target of $68.83.

Insider Buying and Selling at EQT

In other EQT news, EVP Sarah Fenton sold 4,876 shares of the company's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $64.49, for a total value of $314,453.24. Following the sale, the executive vice president owned 52,953 shares of the company's stock, valued at approximately $3,414,938.97. This represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vicky A. Bailey sold 4,116 shares of the company's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $59.80, for a total value of $246,136.80. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 28,992 shares of company stock valued at $1,774,390. Insiders own 0.72% of the company's stock.

EQT Company 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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