EQT Corporation $EQT Stock: Park Avenue Securities LLC Raises Holdings

Park Avenue Securities LLC raised its holdings in shares of EQT Corporation (NYSE:EQT – Free Report) by 77.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,945 shares of the oil and gas producer’s stock after acquiring an additional 15,720 shares during the period. Park Avenue Securities LLC’s holdings in EQT were worth $1,746,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Root Financial Partners LLC increased its stake in shares of EQT by 35.4% in the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after acquiring an additional 202 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of EQT by 28.1% during the third quarter. SBI Securities Co. Ltd. now owns 975 shares of the oil and gas producer’s stock worth $47,000 after purchasing an additional 214 shares during the last quarter. RFG Advisory LLC lifted its position in EQT by 3.2% during the second quarter. RFG Advisory LLC now owns 7,033 shares of the oil and gas producer’s stock valued at $374,000 after purchasing an additional 216 shares during the period. Anchor Investment Management LLC lifted its position in EQT by 76.0% during the second quarter. Anchor Investment Management LLC now owns 528 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 228 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in EQT by 4.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer’s stock valued at $392,000 after purchasing an additional 236 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

More EQT News

Here are the key news stories impacting EQT this week:

  • Positive Sentiment: The Range Resources transaction is expected to make EQT a substantially larger natural-gas company—potentially about 25% larger than its nearest rival—with greater scale, more liquids-rich production and anticipated operating synergies. EQT-Range Deal Will Create $50B Gas Champion EQT and Range Resources Are Merging
  • Positive Sentiment: CEO Toby Rice characterized the Range acquisition as creating a higher-quality business, while EQT’s expanded Gulf Coast footprint supports its longer-term strategy of supplying global liquefied natural gas markets. EQT CEO Toby Rice on buying Range Resources EQT expands Gulf Coast footprint
  • Positive Sentiment: EQT’s third-quarter adjusted EPS of $0.42 exceeded the $0.37 consensus estimate, and capital spending was reportedly 10% below guidance, supporting cash-flow discipline. EQT Reports Q3 Earnings
  • Neutral Sentiment: Some commentary continues to describe EQT as undervalued after its substantial five-year advance, which may provide valuation support but also leaves expectations elevated. EQT Stock Still Looks Undervalued
  • Negative Sentiment: Third-quarter revenue declined 9.6% year over year and production volumes fell 8%, while one analysis argued that EQT’s high free-cash-flow margin could precede weaker cyclical performance. EQT Distribute Rating After Q3 Earnings
  • Negative Sentiment: Freedom Broker, Wells Fargo and Scotiabank each lowered expectations or price targets for EQT. Freedom nevertheless retained a “buy” rating, indicating reduced upside assumptions rather than an outright bearish view. Freedom Broker Lowers EQT Expectations Wells Fargo Lowers EQT Expectations

Insider Buying and Selling

In related news, CEO Toby Rice sold 175,328 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the sale, the chief executive officer owned 2,157,865 shares of the company’s stock, valued at approximately $118,747,310.95. The trade was a 7.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on EQT. Citigroup lifted their price target on EQT from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Stifel Nicolaus started coverage on EQT in a research report on Wednesday, September 9th. They issued a “buy” rating and a $66.00 price objective on the stock. Mizuho dropped their price objective on shares of EQT from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Zacks Research raised shares of EQT from a “strong sell” rating to a “hold” rating in a report on Thursday, August 27th. Finally, Wells Fargo & Company cut their target price on shares of EQT from $79.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, October 27th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.78.

Check Out Our Latest Analysis on EQT

EQT Stock Performance

Shares of EQT stock opened at $55.38 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.19. EQT Corporation has a 12-month low of $47.94 and a 12-month high of $68.24. The business’s 50 day moving average is $53.20 and its two-hundred day moving average is $55.49. The company has a market capitalization of $34.64 billion, a P/E ratio of 13.12 and a beta of 0.68.

EQT (NYSE:EQT – Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The oil and gas producer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.76 billion. EQT had a return on equity of 8.89% and a net margin of 28.40%. The business’s revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. Analysts expect that EQT Corporation will post 3.88 EPS for the current fiscal year.

EQT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Wednesday, November 4th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, November 4th. This represents a $0.68 dividend on an annualized basis and a yield of 1.2%. This is an increase from EQT’s previous quarterly dividend of $0.1650. EQT’s dividend payout ratio is 15.64%.

EQT Profile

(Free Report)

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company develops and operates unconventional oil and gas properties, with a primary focus on natural gas and natural gas liquids produced from shale formations.

EQT’s operations are concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations in Pennsylvania, West Virginia and Ohio. Its activities include drilling, completion, production and management of natural gas wells, along with related gathering and infrastructure operations that support the transportation of its products to market.

The company traces its roots to Equitable Gas, founded in 1878, and has evolved through multiple stages of expansion and restructuring in the U.S.

Further Reading

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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