Wealthfront Advisers LLC Invests $2.62 Million in EQT Corporation $EQT

Key Points

• Wealthfront Advisers acquired a new $2.62 million stake in EQT Corporation during the second quarter, purchasing 49,375 shares. Institutional investors collectively own approximately 90.8% of EQT’s stock.
• EQT’s latest results missed expectations: quarterly EPS was $0.39 versus the $0.41 consensus, while revenue fell 29.2% year over year to $1.68 billion. Analysts nevertheless maintain a “Moderate Buy” consensus with an average price target near $68.64.
• The company declared a $0.165 quarterly dividend, equal to a 1.2% annualized yield, while CEO Toby Rice sold $9.65 million worth of shares under a pre-arranged Rule 10b5-1 plan.

Wealthfront Advisers LLC acquired a new position in EQT Corporation (NYSE:EQT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 49,375 shares of the oil and gas producer's stock, valued at approximately $2,625,000.

Other hedge funds also recently bought and sold shares of the company. Greykasell Wealth Strategies Inc. bought a new position in EQT in the fourth quarter valued at about $26,000. Meeder Asset Management Inc. bought a new position in shares of EQT in the 2nd quarter worth approximately $26,000. Elyxium Wealth LLC bought a new position in shares of EQT in the 4th quarter worth approximately $49,000. Root Financial Partners LLC boosted its holdings in shares of EQT by 35.4% in the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer's stock worth $49,000 after buying an additional 202 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of EQT in the second quarter worth approximately $58,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

Insiders Place Their Bets

In other EQT news, CEO Toby Z. Rice sold 175,328 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the sale, the chief executive officer owned 2,157,865 shares of the company's stock, valued at $118,747,310.95. This trade represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 274,042 shares of company stock valued at $15,005,076. Corporate insiders own 0.72% of the company's stock.

EQT Trading Up 0.5%

Shares of EQT opened at $53.92 on Friday. The company's fifty day moving average is $51.95 and its 200 day moving average is $56.47. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $33.73 billion, a PE ratio of 12.51 and a beta of 0.58. EQT Corporation has a fifty-two week low of $47.94 and a fifty-two week high of $68.24.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). EQT had a net margin of 28.44% and a return on equity of 9.31%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the business posted $0.45 EPS. The firm's revenue was down 29.2% on a year-over-year basis. Sell-side analysts expect that EQT Corporation will post 4.06 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. EQT's dividend payout ratio is currently 15.31%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings cut shares of EQT from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 30th. Morgan Stanley decreased their price objective on shares of EQT from $68.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday. Citigroup lowered their price objective on EQT from $70.00 to $67.00 and set a "buy" rating on the stock in a research report on Tuesday, July 28th. Stephens upped their price objective on EQT from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 22nd. Finally, The Goldman Sachs Group cut their target price on EQT from $65.00 to $63.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $68.64.

Trending Headlines about EQT

Here are the key news stories impacting EQT this week:

• Positive Sentiment: Morgan Stanley maintains an overweight rating: The firm lowered its price target modestly from $68 to $67, still implying substantial upside from recent trading levels. The target reduction is mildly negative, but the continued overweight rating supports the broader bullish analyst consensus. Benzinga report
• Positive Sentiment: Dividend provides support: EQT recently declared a quarterly dividend of $0.165 per share, or $0.66 annualized, representing an approximately 1.2% yield. Its low payout ratio of about 15% suggests room to maintain the distribution, assuming natural-gas cash flow remains healthy. EQT stock information
• Neutral Sentiment: Analyst expectations remain favorable but have eased: EQT carries a consensus “Moderate Buy” rating and an average price target near $68.48, while several firms have recently trimmed their targets. The stock remains below its 200-day moving average, indicating that investors are still cautious about the natural-gas outlook.
• Neutral Sentiment: Unrelated EQT-branded transactions: EQT Real Estate reportedly agreed to acquire a $1.2 billion Southern California industrial portfolio, while EQT AB acquired a majority stake in Australia’s Melbourne Storm and is considering asset sales in Vietnam. These transactions involve separate businesses and have no direct financial impact on EQT Corporation NYSE: EQT. Rexford portfolio report
• Negative Sentiment: Recent earnings were below expectations: EQT’s latest quarterly EPS came in at $0.39 versus the $0.41 consensus, revenue declined 29.2% year over year to $1.68 billion, and revenue missed estimates. The results highlight sensitivity to weaker natural-gas prices and demand.
• Negative Sentiment: CEO share sale adds a modest overhang: CEO Toby Rice sold 175,328 shares worth approximately $9.65 million, reducing his direct stake by 7.51%. Because the transaction was executed under a pre-arranged Rule 10b5-1 plan, it is less concerning than discretionary selling but may still weigh on sentiment. SEC insider filing

About EQT

EQT Corporation NYSE: EQT is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT's primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

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