Wellington Shields & Co. LLC Invests $427,000 in EQT Corporation (NYSE:EQT)

Key Points

• Wellington Shields & Co. LLC acquired 8,000 shares of EQT Corporation, valued at approximately $427,000, during the first quarter, indicating strong interest from institutional investors.
• Analysts have set varying price targets for EQT, with Mizuho rating it as "outperform" and targeting $66.00, while Barclays increased its target from $65.00 to $68.00.
• EQT announced a quarterly dividend of $0.1575 per share, representing a 1.19% yield, with its current payout ratio at 34.05%.

Wellington Shields & Co. LLC bought a new position in shares of EQT Corporation (NYSE:EQT - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,000 shares of the oil and gas producer's stock, valued at approximately $427,000.

Other large investors have also made changes to their positions in the company. Wedbush Securities Inc. acquired a new stake in shares of EQT in the 1st quarter worth $216,000. Allianz Asset Management GmbH increased its stake in shares of EQT by 36.3% in the 1st quarter. Allianz Asset Management GmbH now owns 205,679 shares of the oil and gas producer's stock worth $10,989,000 after acquiring an additional 54,779 shares during the last quarter. Kingsman Wealth Management Inc. acquired a new stake in shares of EQT in the 1st quarter worth $1,284,000. Teacher Retirement System of Texas acquired a new stake in shares of EQT in the 4th quarter worth $244,000. Finally, Aviva PLC acquired a new stake in shares of EQT in the 4th quarter worth $14,719,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at EQT

In other EQT news, EVP Sarah Fenton sold 12,438 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president owned 13,297 shares in the company, valued at approximately $690,646.18. The trade was a 48.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.65% of the company's stock.

EQT Stock Up 0.8%

Shares of NYSE:EQT traded up $0.41 during mid-day trading on Wednesday, hitting $53.51. 10,011,394 shares of the company traded hands, compared to its average volume of 9,661,232. The firm has a market cap of $33.39 billion, a P/E ratio of 28.92, 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 52-week low of $30.02 and a 52-week high of $61.02. The firm's 50 day simple moving average is $56.25 and its 200 day simple moving average is $53.15.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). The business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. On average, equities analysts anticipate that EQT Corporation will post 3.27 EPS for the current 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. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.18%. EQT's dividend payout ratio (DPR) is presently 34.05%.

Wall Street Analyst Weigh In

EQT has been the subject of a number of research analyst reports. UBS Group reiterated a "buy" rating on shares of EQT in a report on Monday, July 14th. Mizuho upgraded EQT to an "outperform" rating and set a $66.00 price target for the company in a report on Tuesday, July 8th. Roth Capital began coverage on EQT in a report on Tuesday, June 24th. They set a "buy" rating and a $69.00 price target for the company. Piper Sandler raised their target price on EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Stephens decreased their price objective on EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.84.

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.