Zurich Insurance Group Ltd FI Buys Shares of 345,266 EQT Corporation $EQT

Key Points

• Zurich Insurance Group Ltd FI has acquired a new stake in EQT Corporation, purchasing 345,266 shares valued at approximately $18.4 million, bringing its ownership to 0.06% of the company.
• Multiple institutional investors have increased their stakes in EQT, with Harbour Investments Inc. boosting its stake by 48.4% in the first quarter, highlighting growing institutional interest.
• Equities research analysts have rated EQT positively, with fifteen giving it a "Buy" rating and an average price target of $62.14, suggesting potential growth for investors.

Zurich Insurance Group Ltd FI bought a new position in shares of EQT Corporation (NYSE:EQT - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 345,266 shares of the oil and gas producer's stock, valued at approximately $18,448,000. Zurich Insurance Group Ltd FI owned about 0.06% of EQT at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new stake in shares of EQT in the first quarter worth about $35,000. Harbour Investments Inc. boosted its stake in shares of EQT by 48.4% in the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock worth $37,000 after buying an additional 226 shares during the last quarter. University of Texas Texas AM Investment Management Co. boosted its stake in shares of EQT by 47.7% in the fourth 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 buying an additional 310 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of EQT in the fourth quarter worth about $55,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of EQT in the fourth quarter worth about $72,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

Insider Activity

In related news, EVP Sarah Fenton sold 12,438 shares of EQT stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $51.94, for a total value of $646,029.72. Following the completion of the transaction, the executive vice president directly owned 13,297 shares in the company, valued at approximately $690,646.18. This trade represents a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The disclosure for this sale can be found here. Company insiders own 0.65% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on EQT. Jefferies Financial Group reiterated a "buy" rating and set a $70.00 price target (up previously from $60.00) on shares of EQT in a research report on Tuesday, July 8th. Melius initiated coverage on EQT in a report on Wednesday, August 20th. They set a "buy" rating and a $64.00 target price for the company. UBS Group increased their price target on EQT from $64.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Barclays raised their target price on EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company lifted their price objective on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, EQT presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.14.

EQT Stock Performance

EQT traded down $0.15 on Monday, hitting $50.79. 1,429,062 shares of the company traded hands, compared to its average volume of 8,109,680. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average of $52.94 and a 200-day moving average of $53.13. EQT Corporation has a 12-month low of $32.88 and a 12-month high of $61.02. The stock has a market capitalization of $31.70 billion, a PE ratio of 27.45, a PEG ratio of 0.41 and a beta of 0.58.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates 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 company earned ($0.08) EPS. Sell-side analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

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

EQT 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.