Vanguard Group Inc. Buys 1,509,054 Shares of EQT Corporation (NYSE:EQT)

Key Points

• Vanguard Group Inc. has increased its stake in EQT Corporation by 2.1% during the first quarter, now owning approximately 12.37% of the company, valued at nearly $3.96 billion.
• EQT reported earnings per share of $0.45 for the last quarter, which fell short of the consensus estimate of $0.52, alongside a revenue of $1.60 billion against analyst expectations of $1.78 billion.
• The company announced a quarterly dividend of $0.1575 per share, reflecting an annual yield of 1.2%, with a scheduled payment on September 2nd.

Vanguard Group Inc. increased its position in EQT Corporation (NYSE:EQT - Free Report) by 2.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,039,340 shares of the oil and gas producer's stock after purchasing an additional 1,509,054 shares during the period. Vanguard Group Inc. owned 12.37% of EQT worth $3,955,922,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of EQT. Harbour Investments Inc. boosted its holdings in shares of EQT by 48.4% in the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock valued at $37,000 after buying an additional 226 shares during the period. University of Texas Texas AM Investment Management Co. lifted its position in EQT by 47.7% in the 4th 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 purchasing an additional 310 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of EQT during the 4th quarter worth about $55,000. Colonial Trust Co SC raised its position in shares of EQT by 255.5% during the 4th quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock worth $66,000 after buying an additional 1,022 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in shares of EQT during the 4th quarter worth about $70,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at EQT

In other news, Director Vicky A. Bailey sold 4,259 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction 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 disclosure for this sale can be found here. Insiders own 0.65% of the company's stock.

EQT Stock Down 2.6%

EQT traded down $1.37 on Tuesday, reaching $50.46. 2,453,437 shares of the company traded hands, compared to its average volume of 8,364,966. The stock's 50 day moving average price is $55.60 and its 200-day moving average price is $53.11. EQT Corporation has a 52-week low of $30.88 and a 52-week high of $61.02. The company has a market cap of $31.49 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 0.36 and a beta of 0.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same quarter last year, the firm earned ($0.08) earnings per share. On average, sell-side analysts expect 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 issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT's payout ratio is 34.05%.

Analyst Ratings Changes

A number of analysts have commented on EQT shares. Barclays boosted their price target on shares of EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada boosted their target price on shares of EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 8th. Morgan Stanley reiterated an "overweight" rating on shares of EQT in a report on Tuesday, July 15th. Stephens dropped their target price on shares of EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, Roth Capital began coverage on shares of EQT in a report on Tuesday, June 24th. They issued a "buy" rating and a $69.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, EQT currently has a consensus rating of "Moderate Buy" and an average price target of $60.84.

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.