Yaupon Capital Management LP Grows Holdings in EQT Corporation $EQT

Key Points

• Yaupon Capital Management LP significantly increased its stake in EQT Corporation by 102.7% during the first quarter, owning approximately $43.31 million worth of shares, making EQT its 7th largest holding.
• EQT recently reported earnings of $0.45 per share, missing analysts' expectations, with revenue of $1.60 billion for the quarter compared to the expected $1.78 billion.
• The company declared a quarterly dividend of $0.1575, representing an annualized yield of 1.2%, with a payout ratio currently at 34.05%.

Yaupon Capital Management LP lifted its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 102.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 810,538 shares of the oil and gas producer's stock after buying an additional 410,604 shares during the period. EQT comprises about 2.2% of Yaupon Capital Management LP's holdings, making the stock its 7th largest position. Yaupon Capital Management LP owned approximately 0.14% of EQT worth $43,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cary Street Partners Financial LLC bought a new stake in shares of EQT in the 4th quarter worth $125,000. Captrust Financial Advisors boosted its position in EQT by 41.5% in the fourth quarter. Captrust Financial Advisors now owns 12,766 shares of the oil and gas producer's stock worth $589,000 after purchasing an additional 3,746 shares during the last quarter. Deutsche Bank AG grew its stake in EQT by 30.9% in 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 raised its stake in shares of 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 worth $7,327,000 after purchasing an additional 19,350 shares during the period. Finally, Focus Partners Wealth grew its position in EQT by 29.7% during the fourth quarter. Focus Partners Wealth now owns 19,848 shares of the oil and gas producer's stock valued at $915,000 after buying an additional 4,544 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Vicky A. Bailey sold 4,259 shares of the 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 legal filing with the SEC, which is accessible through this link. Also, EVP Sarah Fenton sold 12,438 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were 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 $690,646.18. The trade was a 48.33% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

EQT Price Performance

Shares of NYSE:EQT traded down $0.02 on Friday, hitting $50.94. The company's stock had a trading volume of 4,746,454 shares, compared to its average volume of 8,149,112. The company has a market capitalization of $31.79 billion, a PE ratio of 27.54, a PEG ratio of 0.42 and a beta of 0.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. The company has a 50-day simple moving average of $52.94 and a 200 day simple moving average of $53.05. EQT Corporation has a 1 year low of $32.83 and a 1 year high of $61.02.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 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 period in the previous year, the firm posted ($0.08) EPS. Sell-side analysts forecast that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.2%. EQT's dividend payout ratio is presently 34.05%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on EQT shares. Melius began coverage on shares of EQT in a report on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price target on the stock. Melius Research started coverage on shares of EQT in a report on Wednesday, August 20th. They set a "buy" rating and a $64.00 price objective on the stock. Jefferies Financial Group reiterated a "buy" rating and set a $70.00 target price (up previously from $60.00) on shares of EQT in a research report on Tuesday, July 8th. Bank of America boosted their price target on shares of EQT from $63.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. Finally, Piper Sandler boosted their target price on shares of EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Fifteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $62.14.

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.