Westfield Capital Management Co. LP Makes New $568,000 Investment in EQT Corporation (NYSE:EQT)

Key Points

• Westfield Capital Management Co. LP has acquired a new stake in EQT Corporation, purchasing 10,640 shares worth approximately $568,000 in the first quarter.
• Insider trading activity includes EVP Sarah Fenton selling 12,438 shares, representing a 48.33% decrease in her holdings.
• Recent analyst reports show a mix of ratings, with a consensus of "Moderate Buy" and an average price target of $60.84 for EQT stock.

Westfield Capital Management Co. LP acquired a new stake in shares of EQT Corporation (NYSE:EQT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,640 shares of the oil and gas producer's stock, valued at approximately $568,000.

A number of other hedge funds also recently added to or reduced their stakes in EQT. Harbour Investments Inc. lifted its stake in 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 in the last quarter. University of Texas Texas AM Investment Management Co. increased its position in EQT by 47.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock worth $44,000 after purchasing an additional 310 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in EQT in the 4th quarter valued at about $55,000. Colonial Trust Co SC raised its stake in EQT by 255.5% in the 4th quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock valued at $66,000 after purchasing an additional 1,022 shares during the last quarter. Finally, Altshuler Shaham Ltd purchased a new position in EQT in the 4th quarter valued at about $70,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EQT has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $70.00 target price (up from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Roth Capital began coverage on EQT in a research note on Tuesday, June 24th. They issued a "buy" rating and a $69.00 target price for the company. Morgan Stanley reissued an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. Barclays upped their price objective on shares of EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Piper Sandler raised their target price on shares of EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, EQT has an average rating of "Moderate Buy" and a consensus price target of $60.84.

EQT Stock Down 0.4%

Shares of NYSE:EQT traded down $0.20 during midday trading on Thursday, reaching $51.26. The company had a trading volume of 4,371,580 shares, compared to its average volume of 9,856,328. The stock has a market cap of $31.99 billion, a PE ratio of 27.71, a P/E/G ratio of 0.35 and a beta of 0.59. EQT Corporation has a 1-year low of $30.25 and a 1-year high of $61.02. The business's 50 day moving average price is $55.77 and its 200 day moving average price is $53.15. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly 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). EQT had a return on equity of 6.24% and a net margin of 15.87%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the company earned ($0.08) EPS. Research analysts forecast that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be paid a $0.1575 dividend. The ex-dividend date is Wednesday, August 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.2%. EQT's dividend payout ratio (DPR) is currently 34.05%.

Insider Activity

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction 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 sale, the executive vice president owned 13,297 shares in the company, valued at approximately $690,646.18. This represents a 48.33% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.65% of the company's stock.

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.