Allegheny Financial Group LTD Trims Stock Position in EQT Co. (NYSE:EQT)

Allegheny Financial Group LTD lessened its stake in shares of EQT Co. (NYSE:EQT) by 4.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 6,205 shares of the oil and gas producer’s stock after selling 319 shares during the period. Allegheny Financial Group LTD’s holdings in EQT were worth $230,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. California State Teachers Retirement System increased its stake in EQT by 3.6% in the fourth quarter. California State Teachers Retirement System now owns 538,463 shares of the oil and gas producer’s stock valued at $20,817,000 after purchasing an additional 18,804 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of EQT by 421.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 64,900 shares of the oil and gas producer’s stock valued at $2,509,000 after acquiring an additional 52,443 shares during the last quarter. Cibc World Markets Corp lifted its holdings in shares of EQT by 162.4% during the 4th quarter. Cibc World Markets Corp now owns 52,370 shares of the oil and gas producer’s stock worth $2,025,000 after acquiring an additional 32,409 shares during the period. National Bank of Canada FI boosted its position in shares of EQT by 600.0% in the fourth quarter. National Bank of Canada FI now owns 95,871 shares of the oil and gas producer’s stock worth $3,731,000 after acquiring an additional 82,176 shares during the last quarter. Finally, Third Point LLC acquired a new position in EQT during the fourth quarter worth approximately $75,387,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Performance

Shares of EQT traded down $0.20 during trading hours on Monday, reaching $37.01. 1,898,557 shares of the company’s stock traded hands, compared to its average volume of 6,421,492. EQT Co. has a twelve month low of $32.07 and a twelve month high of $45.23. The business’s fifty day simple moving average is $39.31 and its two-hundred day simple moving average is $37.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $16.34 billion, a price-to-earnings ratio of 26.96 and a beta of 1.12.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. EQT’s revenue was down 28.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.70 EPS. Analysts predict that EQT Co. will post 1.06 earnings per share for the current year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th were issued a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.70%. EQT’s dividend payout ratio is currently 45.65%.

Insider Transactions at EQT

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EQT shares. TD Cowen initiated coverage on EQT in a report on Friday, April 19th. They issued a “hold” rating and a $43.00 target price on the stock. Mizuho boosted their target price on EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Scotiabank boosted their price objective on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Friday. Piper Sandler reissued an “overweight” rating and issued a $46.00 target price (up previously from $41.00) on shares of EQT in a research note on Tuesday, April 30th. Finally, Morgan Stanley upped their price target on shares of EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $45.29.

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.