Voleon Capital Management LP Has $1.12 Million Stake in EQT Corporation $EQT

Key Points

• Voleon Capital Management LP reduced its stake in EQT Corporation by 51.1%, holding 20,936 shares worth approximately $1.12 million as of the latest SEC filing.
• During the fourth quarter, several hedge funds increased their positions in EQT, with Deutsche Bank AG raising its stake by 30.9%, now owning 2,012,178 shares valued at about $92.78 million.
• EQT reported quarterly earnings of $0.45 per share, which missed analyst estimates, alongside a recent dividend announcement of $0.1575 per share, reflecting an annualized yield of 1.2%.

Voleon Capital Management LP decreased its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 51.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 20,936 shares of the oil and gas producer's stock after selling 21,913 shares during the period. Voleon Capital Management LP's holdings in EQT were worth $1,119,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in EQT. Cary Street Partners Financial LLC acquired a new position in shares of EQT during the 4th quarter valued at about $125,000. Captrust Financial Advisors boosted its stake in EQT by 41.5% during the 4th quarter. Captrust Financial Advisors now owns 12,766 shares of the oil and gas producer's stock valued at $589,000 after purchasing an additional 3,746 shares during the period. Deutsche Bank AG boosted its stake in EQT by 30.9% during the 4th quarter. Deutsche Bank AG now owns 2,012,178 shares of the oil and gas producer's stock valued at $92,782,000 after purchasing an additional 475,565 shares during the period. Ensign Peak Advisors Inc boosted its stake in EQT by 13.9% during the 4th quarter. Ensign Peak Advisors Inc now owns 158,902 shares of the oil and gas producer's stock valued at $7,327,000 after purchasing an additional 19,350 shares during the period. Finally, Focus Partners Wealth boosted its stake in EQT by 29.7% during the 4th quarter. Focus Partners Wealth now owns 19,848 shares of the oil and gas producer's stock valued at $915,000 after purchasing an additional 4,544 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Price Performance

Shares of EQT stock opened at $50.78 on Tuesday. The stock has a 50 day moving average of $53.33 and a two-hundred day moving average of $53.06. 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. The company has a market capitalization of $31.69 billion, a P/E ratio of 27.45, a P/E/G ratio of 0.41 and a beta of 0.58.

EQT (NYSE:EQT - Get Free Report) last announced 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). EQT had a return on equity of 6.24% and a net margin of 15.87%.The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the business posted ($0.08) EPS. As a group, equities analysts expect that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th were given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, August 6th. EQT's dividend payout ratio (DPR) is 34.05%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on EQT shares. Piper Sandler increased their target price on EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Mizuho upgraded EQT to an "outperform" rating and set a $66.00 target price for the company in a research note on Tuesday, July 8th. Scotiabank increased their target price on EQT from $66.00 to $68.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 13th. Melius started coverage on EQT in a research note on Wednesday, August 20th. They set a "buy" rating and a $64.00 target price for the company. Finally, Bank of America increased their target price on EQT from $63.00 to $80.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.14.

Insider Activity at EQT

In related news, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total transaction of $219,594.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 value 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. This trade represents a 48.33% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.

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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