Flat Footed LLC purchased a new stake in shares of EQT Corporation (NYSE:EQT – Free Report) in the 2nd quarter, Holdings Channel reports. The fund purchased 145,000 shares of the oil and gas producer’s stock, valued at approximately $7,709,650,000. EQT accounts for about 0.6% of Flat Footed LLC’s holdings, making the stock its 11th largest position.
Other large investors have also recently added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. acquired a new stake in shares of EQT during the fourth quarter worth approximately $26,000. Meeder Asset Management Inc. acquired a new position in shares of EQT in the 2nd quarter worth approximately $26,000. Wedbush Fund Advisers LLC grew its position in EQT by 251.8% during the 2nd quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 413 shares during the last quarter. Gables Capital Management Inc. acquired a new stake in EQT during the 2nd quarter valued at $37,000. Finally, Elyxium Wealth LLC acquired a new stake in EQT during the 4th quarter valued at $49,000. 90.81% of the stock is owned by institutional investors.
Insider Activity
In other EQT news, CEO Toby Z. Rice sold 175,328 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the transaction, the chief executive officer owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. This trade represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 274,042 shares of company stock valued at $15,005,076. 0.72% of the stock is owned by company insiders.
EQT Stock Up 0.4%
EQT (NYSE:EQT – Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. The company’s revenue was down 29.2% compared to the same quarter last year. During the same period last year, the company earned $0.45 EPS. On average, analysts predict that EQT Corporation will post 3.97 earnings per share for the current year.
EQT Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. EQT’s dividend payout ratio (DPR) is presently 15.31%.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the company. Zacks Research downgraded EQT from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Stephens raised their target price on EQT from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Weiss Ratings cut EQT from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Freedom Capital upgraded shares of EQT to a “strong-buy” rating in a research report on Tuesday, June 30th. Finally, BMO Capital Markets decreased their price objective on shares of EQT from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, EQT currently has an average rating of “Moderate Buy” and a consensus price target of $68.10.
Get Our Latest Stock Analysis on EQT
About EQT
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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