EQT (NYSE:EQT) Shares Down 2.9%

EQT Co. (NYSE:EQT)’s share price traded down 2.9% during mid-day trading on Tuesday . The company traded as low as $31.29 and last traded at $31.34. 492,652 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 7,164,992 shares. The stock had previously closed at $32.26.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EQT shares. BMO Capital Markets lifted their price objective on shares of EQT from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, May 13th. Jefferies Financial Group lifted their price target on EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Piper Sandler reduced their price target on EQT from $47.00 to $43.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. StockNews.com raised EQT to a “sell” rating in a research note on Friday, July 26th. Finally, Mizuho increased their price target on EQT from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.

EQT Trading Down 3.9 %

The company has a market capitalization of $13.69 billion, a P/E ratio of 23.39 and a beta of 1.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. The company’s fifty day simple moving average is $36.41 and its 200-day simple moving average is $36.98.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The business had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the company earned ($0.17) earnings per share. The company’s revenue was down 6.5% on a year-over-year basis. Research analysts predict that EQT Co. will post 1.4 earnings per share for the current 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 paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, August 7th. EQT’s dividend payout ratio (DPR) is currently 45.65%.

Insider Activity

In other EQT news, insider Lesley Evancho sold 46,884 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 160,884 shares in the company, valued at approximately $6,642,900.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Lesley Evancho sold 46,884 shares of the business’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 transaction, the insider now owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William E. Jordan sold 35,000 shares of EQT 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 sale, the executive vice president now directly owns 456,837 shares in the company, valued at approximately $18,602,402.64. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EQT

Large investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new stake in EQT in the second quarter worth approximately $28,000. Private Wealth Management Group LLC purchased a new stake in EQT in the 4th quarter worth approximately $30,000. Wolff Wiese Magana LLC raised its stake in shares of EQT by 936.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 908 shares in the last quarter. Blue Trust Inc. lifted its position in shares of EQT by 149.5% during the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 598 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of EQT during the fourth quarter valued at about $51,000. Institutional investors own 90.81% of the company’s stock.

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.