Fiduciary Alliance LLC Makes New $868,000 Investment in EQT Corporation $EQT
by Mitch Edgeman · The Markets DailyFiduciary Alliance LLC bought a new stake in EQT Corporation (NYSE:EQT – Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 13,639 shares of the oil and gas producer’s stock, valued at approximately $868,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Reaves W H & Co. Inc. boosted its holdings in shares of EQT by 12.9% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock valued at $62,282,000 after acquiring an additional 132,741 shares during the last quarter. Whittier Trust Co. lifted its position in EQT by 2.3% during the fourth quarter. Whittier Trust Co. now owns 587,172 shares of the oil and gas producer’s stock valued at $31,361,000 after purchasing an additional 13,232 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in EQT by 9.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,072 shares of the oil and gas producer’s stock valued at $31,253,000 after purchasing an additional 48,587 shares during the period. SG Americas Securities LLC boosted its holdings in EQT by 228.5% in the fourth quarter. SG Americas Securities LLC now owns 517,651 shares of the oil and gas producer’s stock valued at $27,746,000 after purchasing an additional 360,049 shares during the last quarter. Finally, Adams Natural Resources Fund Inc. boosted its holdings in EQT by 19.1% in the fourth quarter. Adams Natural Resources Fund Inc. now owns 262,600 shares of the oil and gas producer’s stock valued at $14,075,000 after purchasing an additional 42,100 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.
Insiders Place Their Bets
In other news, CEO Toby Z. Rice sold 96,983 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $54.28, for a total transaction of $5,264,237.24. Following the completion of the sale, the chief executive officer owned 2,334,924 shares of the company’s stock, valued at $126,739,674.72. The trade was a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky A. Bailey sold 4,116 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $59.80, for a total transaction of $246,136.80. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 102,830 shares of company stock valued at $5,602,913 over the last 90 days. 0.72% of the stock is currently owned by company insiders.
EQT Price Performance
NYSE:EQT opened at $52.68 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.19. EQT Corporation has a 52 week low of $48.47 and a 52 week high of $68.24. The stock’s 50-day moving average price is $55.47 and its 200-day moving average price is $56.99. The stock has a market capitalization of $32.95 billion, a PE ratio of 10.00 and a beta of 0.55.
EQT (NYSE:EQT – Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.32. EQT had a return on equity of 9.74% and a net margin of 31.94%.The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the firm posted $1.18 EPS. As a group, equities analysts expect that EQT Corporation will post 4.52 EPS for the current fiscal year.
EQT Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 6th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, May 6th. EQT’s payout ratio is presently 12.52%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on EQT. Zacks Research lowered EQT from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Morgan Stanley upped their target price on EQT from $69.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, March 27th. UBS Group dropped their target price on EQT from $75.00 to $74.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Piper Sandler lifted their price target on EQT from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Finally, JPMorgan Chase & Co. decreased their price target on EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.29.
View Our Latest Stock Report on EQT
EQT Company Profile
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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