TD Asset Management Inc Has $63.51 Million Stake in EQT Corporation (NYSE:EQT)

Key Points

• TD Asset Management Inc reduced its stake in EQT Corporation by 15.6%, holding 1,188,575 shares valued at approximately $63.5 million after selling 220,188 shares in the first quarter.
• EQT Corporation's quarterly earnings showed an EPS of $0.45, missing the consensus estimate of $0.52, and reported revenue of $1.60 billion, also below expectations.
• The company declared a quarterly dividend of $0.1575, with an annualized yield of 1.21%, and has a current dividend payout ratio of 34.05%.

TD Asset Management Inc cut its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 15.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,188,575 shares of the oil and gas producer's stock after selling 220,188 shares during the period. TD Asset Management Inc owned approximately 0.20% of EQT worth $63,506,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. grew 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 valued at $44,000 after acquiring an additional 310 shares during the period. Mascagni Wealth Management Inc. acquired a new position in EQT in the fourth quarter valued at about $55,000. Hazlett Burt & Watson Inc. grew its stake in EQT by 197.4% in the first quarter. Hazlett Burt & Watson Inc. now owns 1,383 shares of the oil and gas producer's stock valued at $73,000 after acquiring an additional 918 shares during the period. Colonial Trust Co SC grew 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 valued at $66,000 after acquiring an additional 1,022 shares during the period. Finally, Montag A & Associates Inc. acquired a new position in EQT in the first quarter valued at about $77,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EQT has been the subject of a number of research analyst reports. Scotiabank reissued a "sector perform" rating and issued a $66.00 target price (up from $62.00) on shares of EQT in a research note on Friday, July 11th. Jefferies Financial Group restated a "buy" rating and issued a $70.00 price target (up from $60.00) on shares of EQT in a report on Tuesday, July 8th. Wells Fargo & Company boosted their price target on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Wall Street Zen lowered EQT from a "hold" rating to a "sell" rating in a report on Monday, April 7th. Finally, Piper Sandler boosted their price target on EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.84.

EQT Stock Up 0.2%

EQT traded up $0.13 on Thursday, hitting $53.49. 2,791,855 shares of the company were exchanged, compared to its average volume of 8,507,291. The stock's fifty day moving average is $56.20 and its 200-day moving average is $53.15. The company has a market cap of $33.38 billion, a PE ratio of 28.96, a PEG ratio of 0.36 and a beta of 0.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. EQT Corporation has a 12 month low of $30.02 and a 12 month high of $61.02.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The business had revenue of $1.60 billion for the quarter, compared to analyst estimates 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 firm earned ($0.08) EPS. Equities research analysts predict that EQT Corporation will post 3.27 EPS for the current fiscal 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 given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT's dividend payout ratio (DPR) is presently 34.05%.

Insiders Place Their Bets

In other EQT 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 transaction of $646,029.72. Following the transaction, the executive vice president owned 13,297 shares of the company's stock, valued at $690,646.18. The trade was a 48.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is currently owned by company 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.