Resolute Capital Asset Partners LLC Has $3.21 Million Stake in EQT Corporation $EQT

Key Points

• Resolute Capital Asset Partners LLC has reduced its stake in EQT Corporation by 62.5%, now holding 60,000 shares valued at approximately $3.21 million.
• Institutional investors collectively own 90.81% of EQT's shares, with other firms like Zions Bancorporation and Harbour Investments making recent investments and increases in their stakes.
• EQT's recent earnings report showed it missed EPS estimates, reporting $0.45 compared to the expected $0.52, and declared a quarterly dividend of $0.1575 per share with a yield of 1.2%.

Resolute Capital Asset Partners LLC lowered its holdings in EQT Corporation (NYSE:EQT - Free Report) by 62.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,000 shares of the oil and gas producer's stock after selling 100,000 shares during the quarter. EQT comprises about 1.8% of Resolute Capital Asset Partners LLC's investment portfolio, making the stock its 20th largest position. Resolute Capital Asset Partners LLC's holdings in EQT were worth $3,206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new position in EQT in the first quarter worth $35,000. Harbour Investments Inc. boosted its stake in EQT by 48.4% in the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock worth $37,000 after purchasing an additional 226 shares in the last quarter. University of Texas Texas AM Investment Management Co. boosted its stake in EQT by 47.7% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock worth $44,000 after purchasing an additional 310 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in EQT in the fourth quarter worth $55,000. Finally, Colonial Trust Co SC boosted its stake in EQT by 255.5% in the fourth quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock worth $66,000 after purchasing an additional 1,022 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Insider Activity

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value 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 trade 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 owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EQT shares. Mizuho upgraded EQT to an "outperform" rating and set a $66.00 target price for the company in a research report on Tuesday, July 8th. Barclays boosted their target price on EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Piper Sandler boosted their target price on EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Bank of America boosted their target price on EQT from $63.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Royal Bank Of Canada boosted their target price on EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 8th. Fifteen equities research 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. According to data from MarketBeat, EQT has a consensus rating of "Moderate Buy" and an average target price of $62.14.

EQT Trading Down 0.3%

NYSE EQT opened at $51.9160 on Friday. The stock has a 50-day simple moving average of $54.91 and a 200 day simple moving average of $53.13. The company has a market capitalization of $32.40 billion, a PE ratio of 28.06, a P/E/G ratio of 0.38 and a beta of 0.59. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. EQT Corporation has a 12 month low of $31.45 and a 12 month 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 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 the consensus estimate 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 prior year, the company posted ($0.08) EPS. Research analysts forecast that EQT Corporation will post 3.27 EPS for the current year.

EQT Announces Dividend

The firm 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 dividend yield of 1.2%. The ex-dividend date is Wednesday, August 6th. EQT's dividend 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.

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