LPL Financial LLC Purchases 36,531 Shares of EQT Corporation (NYSE:EQT)

LPL Financial LLC grew its position in EQT Corporation (NYSE:EQT) by 12.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 323,295 shares of the oil and gas producer’s stock after acquiring an additional 36,531 shares during the period. LPL Financial LLC owned about 0.05% of EQT worth $17,274,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Resona Asset Management Co. Ltd. bought a new position in EQT during the fourth quarter worth about $7,504,000. Aviva PLC bought a new stake in EQT in the fourth quarter valued at approximately $14,719,000. Envestnet Asset Management Inc. lifted its position in shares of EQT by 31.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 388,331 shares of the oil and gas producer’s stock valued at $17,906,000 after buying an additional 91,923 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of EQT by 246.1% in the fourth quarter. Russell Investments Group Ltd. now owns 425,368 shares of the oil and gas producer’s stock valued at $19,614,000 after buying an additional 302,467 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of EQT by 3.4% during the 4th quarter. Quadrant Capital Group LLC now owns 10,762 shares of the oil and gas producer’s stock worth $496,000 after acquiring an additional 349 shares during the period. Institutional investors own 90.81% of the company’s stock.

EQT Price Performance

Shares of NYSE EQT opened at $51.68 on Wednesday. The stock has a market capitalization of $32.25 billion, a PE ratio of 27.94, a P/E/G ratio of 0.36 and a beta of 0.59. EQT Corporation has a fifty-two week low of $30.17 and a fifty-two week high of $61.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day moving average price of $55.93 and a two-hundred day moving average price of $53.17.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%. During the same period in the prior year, the company earned ($0.08) EPS. As a group, equities analysts predict that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT’s dividend payout ratio (DPR) is 34.05%.

Insider Transactions at EQT

In other EQT news, EVP Sarah Fenton sold 12,438 shares of the company’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the sale, the executive vice president directly owned 13,297 shares in the company, valued at $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on EQT shares. Roth Capital started coverage on EQT in a research note on Tuesday, June 24th. They issued a “buy” rating and a $69.00 price target on the stock. Mizuho upgraded shares of EQT to an “outperform” rating and set a $66.00 price objective on the stock in a report on Tuesday, July 8th. Stephens dropped their price objective on shares of EQT from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company raised their target price on shares of EQT from $59.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, June 16th. Finally, Piper Sandler upped their price target on shares of EQT from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and an average target price of $60.84.

EQT Profile

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.