West Family Investments Inc. Invests $60,000 in EQT Corporation $EQT

Key Points

• West Family Investments acquired 103,619 shares of EQT Corporation during the second quarter, valued at approximately $60,000. Other institutions also initiated positions, and institutional investors collectively own 90.81% of EQT.
• EQT shares opened at $53.74, while the company’s latest quarterly results fell short of expectations: earnings were $0.39 per share versus a $0.41 consensus estimate, and revenue declined 29.2% year over year to $1.68 billion.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $68.10. EQT also declared a quarterly dividend of $0.165 per share, representing a 1.2% annualized yield.

West Family Investments Inc. acquired a new stake in shares of EQT Corporation (NYSE:EQT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 103,619 shares of the oil and gas producer's stock, valued at approximately $60,000.

A number of other large investors have also bought and sold shares of the company. NewEdge Wealth LLC bought a new position in shares of EQT during the 2nd quarter worth $841,000. Amplify Investments LLC bought a new stake in EQT in the 2nd quarter valued at about $58,000. Fore Capital LLC bought a new stake in EQT in the 2nd quarter valued at about $1,329,000. Danske Bank A S purchased a new stake in EQT during the second quarter valued at about $878,000. Finally, Diversify Advisory Services LLC purchased a new stake in EQT during the second quarter valued at about $1,046,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Price Performance

Shares of NYSE:EQT opened at $53.74 on Friday. The company's fifty day moving average price is $51.99 and its 200-day moving average price is $56.45. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $33.62 billion, a price-to-earnings ratio of 12.47 and a beta of 0.58. EQT Corporation has a one year low of $47.94 and a one year high of $68.24.

EQT (NYSE:EQT - Get Free Report) last released its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The business's quarterly revenue was down 29.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, equities research analysts anticipate that EQT Corporation will post 3.97 earnings per share for the current fiscal year.

EQT Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently commented on EQT. Truist Financial cut their price objective on shares of EQT from $74.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, June 24th. Barclays dropped their target price on EQT from $70.00 to $68.00 and set an "overweight" rating on the stock in a research report on Monday. Citigroup cut their price target on EQT from $70.00 to $67.00 and set a "buy" rating for the company in a report on Tuesday, July 28th. UBS Group reduced their price target on EQT from $74.00 to $73.00 and set a "buy" rating for the company in a research report on Wednesday, July 8th. Finally, Freedom Capital upgraded EQT to a "strong-buy" rating in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $68.10.

Insiders Place Their Bets

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

EQT Company Profile

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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