Senator Investment Group LP Buys 49,717 Shares of EQT Corporation $EQT

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Senator Investment Group LP raised its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 5.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,030,000 shares of the oil and gas producer's stock after purchasing an additional 49,717 shares during the period. EQT accounts for approximately 2.9% of Senator Investment Group LP's holdings, making the stock its 14th biggest position. Senator Investment Group LP owned 0.17% of EQT worth $55,033,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Slate Path Capital LP bought a new position in shares of EQT in the 4th quarter valued at about $123,575,000. Castle Hook Partners LP lifted its holdings in shares of EQT by 199.5% in the 4th quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer's stock valued at $184,012,000 after acquiring an additional 2,658,375 shares during the last quarter. Nuveen LLC bought a new position in shares of EQT in the 1st quarter valued at about $120,252,000. Vanguard Group Inc. lifted its holdings in shares of EQT by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer's stock valued at $3,955,922,000 after acquiring an additional 1,509,054 shares during the last quarter. Finally, Encompass Capital Advisors LLC bought a new position in shares of EQT in the 4th quarter valued at about $59,627,000. Institutional investors own 90.81% of the company's stock.

EQT Trading Down 0.3%

EQT stock traded down $0.1340 during midday trading on Friday, reaching $51.9160. The stock had a trading volume of 4,768,066 shares, compared to its average volume of 7,375,581. The firm has a market cap of $32.40 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 0.38 and a beta of 0.59. The company has a fifty day moving average of $54.91 and a 200 day moving average of $53.13. EQT Corporation has a 52-week low of $31.45 and a 52-week high of $61.02. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32.

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). The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations 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 business posted ($0.08) earnings per share. On average, analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is 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%.

Insider Buying and Selling

In other news, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total transaction of $219,594.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 13,297 shares in the company, valued at approximately $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. Company insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on EQT. Piper Sandler increased their price target on shares of EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Melius Research initiated coverage on shares of EQT in a research report on Wednesday. They issued a "buy" rating and a $64.00 price objective on the stock. Scotiabank increased their price objective on shares of EQT from $66.00 to $68.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 13th. Mizuho raised shares of EQT to an "outperform" rating and set a $66.00 price objective on the stock in a research report on Tuesday, July 8th. Finally, Bank of America increased their price objective on shares of EQT from $63.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.