EQT Corporation $EQT Stock Holdings Cut by HighTower Advisors LLC

HighTower Advisors LLC lowered its holdings in EQT Corporation (NYSE:EQTFree Report) by 10.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 264,452 shares of the oil and gas producer’s stock after selling 32,372 shares during the quarter. HighTower Advisors LLC’s holdings in EQT were worth $14,061,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Greykasell Wealth Strategies Inc. acquired a new stake in shares of EQT during the fourth quarter worth $26,000. Meeder Asset Management Inc. acquired a new position in shares of EQT in the 2nd quarter valued at $26,000. Wedbush Fund Advisers LLC increased its stake in EQT by 251.8% in the 2nd quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 413 shares in the last quarter. Continuum Advisory LLC purchased a new position in EQT in the 2nd quarter worth about $32,000. Finally, Gables Capital Management Inc. acquired a new stake in EQT during the 2nd quarter worth about $37,000. 90.81% of the stock is owned by institutional investors.

EQT Stock Down 0.9%

EQT stock opened at $54.61 on Thursday. The firm has a market cap of $34.16 billion, a PE ratio of 12.67 and a beta of 0.58. EQT Corporation has a 1 year low of $47.94 and a 1 year high of $68.24. The company has a fifty day simple moving average of $52.82 and a 200 day simple moving average of $56.26. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19.

EQT (NYSE:EQTGet Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). EQT had a net margin of 28.44% and a return on equity of 9.31%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company posted $0.45 EPS. The business’s revenue was down 29.2% on a year-over-year basis. Sell-side analysts anticipate that EQT Corporation will post 3.96 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was 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 15.31%.

Analysts Set New Price Targets

Several equities research analysts recently commented on EQT shares. Morgan Stanley reduced their price target on shares of EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Wednesday, August 19th. Stifel Nicolaus set a $66.00 target price on shares of EQT in a research note on Wednesday. JPMorgan Chase & Co. reduced their target price on EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, June 23rd. Truist Financial decreased their target price on EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of EQT in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.00.

View Our Latest Report on EQT

Insider Transactions at EQT

In other EQT news, CEO Toby Rice sold 175,328 shares of the company’s 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 completion of the transaction, the chief executive officer owned 2,157,865 shares of the company’s stock, valued at $118,747,310.95. This represents a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is owned by corporate insiders.

EQT Company Profile

(Free Report)

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company primarily develops and operates unconventional oil and gas properties in the Appalachian Basin, with a focus on natural gas production from the Marcellus and Utica shale formations.

EQT’s products include natural gas, natural gas liquids and condensate. Its operations span drilling, well completion, production and related gathering activities, supporting the delivery of energy to utilities, industrial customers, marketers and other buyers.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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