UniSuper Management Pty Ltd Increases Stock Holdings in EQT Co. (NYSE:EQT)

UniSuper Management Pty Ltd grew its position in shares of EQT Co. (NYSE:EQT) by 563.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,102 shares of the oil and gas producer’s stock after buying an additional 24,713 shares during the quarter. UniSuper Management Pty Ltd’s holdings in EQT were worth $1,079,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in EQT. Private Wealth Management Group LLC acquired a new position in EQT during the fourth quarter worth about $30,000. BKM Wealth Management LLC purchased a new position in shares of EQT during the 4th quarter worth approximately $40,000. Principal Securities Inc. acquired a new stake in EQT during the 4th quarter valued at $51,000. CX Institutional purchased a new stake in shares of EQT in the fourth quarter valued at $64,000. Finally, First United Bank & Trust acquired a new stake in shares of EQT during the fourth quarter valued at $69,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on EQT shares. TD Cowen started coverage on shares of EQT in a research note on Friday, April 19th. They set a “hold” rating and a $43.00 price target on the stock. Scotiabank lifted their target price on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 12th. Jefferies Financial Group increased their price target on EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Piper Sandler raised their price objective on EQT from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Finally, BMO Capital Markets lifted their price target on EQT from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and an average price target of $45.72.

EQT Stock Up 0.1 %

Shares of NYSE:EQT traded up $0.05 during midday trading on Wednesday, reaching $35.10. The company had a trading volume of 15,266,462 shares, compared to its average volume of 7,109,386. EQT Co. has a one year low of $32.07 and a one year high of $45.23. 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 stock has a market capitalization of $15.50 billion, a P/E ratio of 25.68 and a beta of 1.12. The stock’s fifty day moving average price is $38.70 and its 200-day moving average price is $37.36.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. EQT had a return on equity of 4.57% and a net margin of 10.96%. The company had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted ($0.17) earnings per share. EQT’s quarterly revenue was down 6.5% compared to the same quarter last year. Equities research analysts expect that EQT Co. will post 1.32 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be issued a dividend of $0.1575 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.63 annualized dividend and a yield of 1.79%. EQT’s payout ratio is presently 45.65%.

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.