Kentucky Farm Bureau Mutual Insurance Co Makes New $1.79 Million Investment in EQT Corporation $EQT

Kentucky Farm Bureau Mutual Insurance Co purchased a new stake in EQT Corporation (NYSE:EQTFree Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 33,715 shares of the oil and gas producer’s stock, valued at approximately $1,793,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. West Family Investments Inc. bought a new position in shares of EQT during the second quarter worth about $60,000. NewEdge Wealth LLC bought a new stake in EQT in the second quarter valued at approximately $841,000. Amplify Investments LLC acquired a new stake in EQT during the 2nd quarter valued at approximately $58,000. Fore Capital LLC acquired a new stake in EQT during the 2nd quarter valued at approximately $1,329,000. Finally, Danske Bank A S acquired a new stake in EQT during the 2nd quarter valued at approximately $878,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Insiders Place Their Bets

In other EQT news, CEO Toby Z. Rice sold 175,328 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $55.03, for a total value 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 represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 274,042 shares of company stock worth $15,005,076. 0.72% of the stock is currently owned by corporate insiders.

EQT News Roundup

Here are the key news stories impacting EQT this week:

  • Positive Sentiment: Morgan Stanley lowered its price target for EQT Corporation slightly, from $68 to $67, but maintained an Overweight rating. The new target implies approximately 25% upside from the recent trading level, signaling continued analyst confidence in EQT’s valuation and natural-gas prospects. Benzinga
  • Neutral Sentiment: CEO Toby Rice sold 175,328 EQT shares for approximately $9.6 million, reducing his direct stake by 7.51%. Because the transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, it may carry less negative significance than a discretionary sale, although insider selling can still weigh on sentiment. SEC insider transaction filing
  • Negative Sentiment: EQT’s latest reported quarter remains a fundamental headwind: earnings per share came in at $0.39 versus a $0.41 consensus estimate, revenue declined 29.2% year over year to $1.68 billion, and revenue missed expectations. Analysts nevertheless project approximately $4.06 in full-year EPS.
  • Neutral Sentiment: Several headlines about EQT acquiring the Melbourne Storm rugby club and considering a sale of Vietnamese language schools concern Swedish investment firm EQT AB, not EQT Corporation. They should not be interpreted as corporate actions by NYSE:EQT. Financial Times

EQT Trading Up 0.9%

NYSE:EQT opened at $53.63 on Thursday. EQT Corporation has a 12 month low of $47.94 and a 12 month high of $68.24. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $33.55 billion, a price-to-earnings ratio of 12.44 and a beta of 0.58. The firm has a fifty day simple moving average of $51.89 and a two-hundred day simple moving average of $56.49.

EQT (NYSE:EQTGet Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company 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%. EQT’s revenue for the quarter was down 29.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 EPS. Analysts expect that EQT Corporation will post 4.06 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. EQT’s dividend payout ratio is 15.31%.

Analyst Upgrades and Downgrades

EQT has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price target on shares of EQT from $77.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Barclays lowered their target price on shares of EQT from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Monday. Truist Financial dropped their target price on shares of EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. UBS Group cut their price target on shares of EQT from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Finally, Weiss Ratings downgraded EQT from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.64.

View Our Latest Analysis on EQT

EQT Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for EQT (NYSE:EQT)

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