Global Assets Advisory LLC Buys New Shares in EQT Co. (NYSE:EQT)

Global Assets Advisory LLC acquired a new stake in shares of EQT Co. (NYSE:EQTFree Report) during the first quarter, Holdings Channel reports. The fund acquired 265,286 shares of the oil and gas producer’s stock, valued at approximately $9,834,000.

Other large investors have also recently modified their holdings of the company. Park Avenue Securities LLC grew its position in EQT by 3.8% during the 1st quarter. Park Avenue Securities LLC now owns 8,153 shares of the oil and gas producer’s stock worth $302,000 after acquiring an additional 300 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in EQT by 2.1% during the 4th quarter. Perigon Wealth Management LLC now owns 14,471 shares of the oil and gas producer’s stock valued at $559,000 after buying an additional 303 shares during the last quarter. Czech National Bank boosted its position in EQT by 0.5% during the 1st quarter. Czech National Bank now owns 72,374 shares of the oil and gas producer’s stock valued at $2,683,000 after buying an additional 332 shares during the period. Fulton Bank N.A. grew its holdings in EQT by 4.7% in the 1st quarter. Fulton Bank N.A. now owns 10,370 shares of the oil and gas producer’s stock worth $384,000 after acquiring an additional 465 shares during the last quarter. Finally, Connectus Wealth LLC increased its position in shares of EQT by 2.3% in the fourth quarter. Connectus Wealth LLC now owns 23,188 shares of the oil and gas producer’s stock valued at $896,000 after acquiring an additional 514 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Performance

NYSE:EQT traded up $1.55 during trading hours on Monday, reaching $38.52. The company had a trading volume of 7,583,139 shares, compared to its average volume of 6,588,987. The firm’s 50 day moving average price is $39.72 and its 200-day moving average price is $37.61. The firm has a market cap of $17.01 billion, a price-to-earnings ratio of 26.79 and a beta of 1.06. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. EQT Co. has a 52 week low of $32.07 and a 52 week high of $45.23.

EQT (NYSE:EQTGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.58 billion. EQT had a return on equity of 4.57% and a net margin of 10.96%. EQT’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.70 earnings per share. On average, analysts forecast that EQT Co. will post 1.03 EPS for the current year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, May 7th. EQT’s dividend payout ratio (DPR) is presently 45.65%.

Insider Buying and Selling

In other EQT news, insider Lesley Evancho sold 46,884 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the completion of the sale, the insider now directly owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the transaction, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lesley Evancho sold 46,884 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total value of $1,935,840.36. Following the transaction, the insider now owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EQT shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $37.00 target price (down from $39.00) on shares of EQT in a research note on Wednesday, March 20th. BMO Capital Markets increased their price target on shares of EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. The Goldman Sachs Group cut their price objective on EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price target on shares of EQT in a research report on Tuesday, March 5th. Finally, Morgan Stanley increased their price objective on shares of EQT from $37.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.24.

View Our Latest Analysis on EQT

About EQT

(Free Report)

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.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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