TD Private Client Wealth LLC Trims Position in EQT Corporation $EQT

TD Private Client Wealth LLC cut its position in EQT Corporation (NYSE:EQT) by 9.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,576 shares of the oil and gas producer’s stock after selling 364 shares during the period. TD Private Client Wealth LLC’s holdings in EQT were worth $209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. AdvisorNet Financial Inc grew its stake in EQT by 479.5% during the second quarter. AdvisorNet Financial Inc now owns 2,179 shares of the oil and gas producer’s stock valued at $127,000 after acquiring an additional 1,803 shares in the last quarter. GAMMA Investing LLC grew its stake in EQT by 6.1% during the second quarter. GAMMA Investing LLC now owns 12,675 shares of the oil and gas producer’s stock valued at $739,000 after acquiring an additional 725 shares in the last quarter. Farther Finance Advisors LLC grew its stake in EQT by 6.5% during the second quarter. Farther Finance Advisors LLC now owns 9,076 shares of the oil and gas producer’s stock valued at $529,000 after acquiring an additional 554 shares in the last quarter. Essex Savings Bank bought a new position in EQT during the second quarter valued at $213,000. Finally, Drummond Knight Asset Management Pty Ltd lifted its position in EQT by 26.2% during the first quarter. Drummond Knight Asset Management Pty Ltd now owns 281,569 shares of the oil and gas producer’s stock valued at $15,044,000 after purchasing an additional 58,436 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Stock Up 0.2%

EQT stock opened at $54.04 on Monday. The firm has a 50 day moving average of $51.76 and a 200 day moving average of $53.30. The stock has a market capitalization of $33.72 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 0.44 and a beta of 0.58. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. EQT Corporation has a 52 week low of $35.44 and a 52 week high of $61.02.

EQT (NYSE:EQT) last released its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same quarter last year, the business earned ($0.08) earnings per share. Sell-side analysts forecast that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th were paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, August 6th. EQT’s payout ratio is presently 34.05%.

Insider Activity at EQT

In other EQT news, EVP Sarah Fenton sold 12,438 shares of EQT stock in a transaction that occurred on Friday, July 25th. The shares were 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 approximately $690,646.18. The trade was a 48.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total transaction of $219,594.04. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

EQT has been the subject of several research reports. Barclays increased their price objective on shares of EQT from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Scotiabank increased their price objective on shares of EQT from $66.00 to $68.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 13th. Piper Sandler increased their price objective on shares of EQT from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Mizuho lowered their price objective on shares of EQT from $66.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of EQT in a research report on Tuesday, July 15th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and an average target price of $62.95.

EQT Company 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.