Situational Awareness LP Makes New Investment in EQT Corporation $EQT

Key Points

• Situational Awareness LP has acquired a new stake of 989,398 shares in EQT Corporation, valued at approximately $52.86 million, making it the firm's 6th largest position.
• EQT's recent earnings report showed an EPS of $0.45 for the quarter, which fell short of analysts' estimates of $0.52, alongside a revenue of $1.60 billion compared to expected $1.78 billion.
• The company announced a quarterly dividend of $0.1575 per share, resulting in an annualized yield of 1.2% and a payout ratio of 34.05% as of the latest filing.

Situational Awareness LP acquired a new stake in shares of EQT Corporation (NYSE:EQT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 989,398 shares of the oil and gas producer's stock, valued at approximately $52,864,000. EQT makes up 5.3% of Situational Awareness LP's investment portfolio, making the stock its 6th biggest position. Situational Awareness LP owned about 0.17% of EQT at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC increased its stake in EQT by 14.1% in the 1st quarter. Larson Financial Group LLC now owns 1,582 shares of the oil and gas producer's stock worth $85,000 after purchasing an additional 196 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in EQT by 2.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer's stock worth $416,000 after acquiring an additional 207 shares during the period. Generali Investments Management Co LLC boosted its position in EQT by 14.1% during the 1st quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer's stock worth $91,000 after acquiring an additional 211 shares during the period. Bartlett & CO. Wealth Management LLC boosted its position in EQT by 3.9% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer's stock worth $309,000 after acquiring an additional 219 shares during the period. Finally, Harbour Investments Inc. boosted its position in EQT by 48.4% during the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock worth $37,000 after acquiring an additional 226 shares during the period. 90.81% of the stock is currently owned by institutional investors.

EQT Stock Down 0.9%

Shares of EQT stock traded down $0.47 during trading on Friday, hitting $51.90. 6,310,318 shares of the stock traded hands, compared to its average volume of 6,522,401. The company has a fifty day moving average price of $54.19 and a two-hundred day moving average price of $53.11. EQT Corporation has a twelve month low of $31.45 and a twelve month high of $61.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $32.39 billion, a P/E ratio of 28.05, a PEG ratio of 0.41 and a beta of 0.58.

EQT (NYSE:EQT - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the firm posted ($0.08) earnings per share. Equities research analysts predict that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors 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 is Wednesday, August 6th. EQT's payout ratio is 34.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Scotiabank raised their price objective on EQT from $66.00 to $68.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 13th. Melius Research assumed coverage on EQT in a research report on Wednesday, August 20th. They set a "buy" rating and a $64.00 price objective for the company. Roth Capital lowered EQT from a "strong-buy" rating to a "neutral" rating and decreased their price objective for the stock from $75.00 to $57.00 in a research report on Monday, August 18th. Royal Bank Of Canada raised their price objective on EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 8th. Finally, Jefferies Financial Group restated a "buy" rating and set a $70.00 price objective (up from $60.00) on shares of EQT in a research report on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, EQT presently has an average rating of "Moderate Buy" and a consensus target price of $62.14.

Insider Activity at EQT

In related news, EVP Sarah Fenton sold 12,438 shares of the business'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 value of $646,029.72. Following the completion of the sale, the executive vice president directly owned 13,297 shares in the company, valued at approximately $690,646.18. The trade was a 48.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.

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.