Allegheny Financial Group LTD Sells 319 Shares of EQT Co. (NYSE:EQT)

Allegheny Financial Group LTD lessened its position in EQT Co. (NYSE:EQT) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 quarter.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in EQT by 27.9% during the first quarter. Bank of New York Mellon Corp now owns 19,883,694 shares of the oil and gas producer’s stock worth $737,089,000 after acquiring an additional 4,339,407 shares during the period. Vanguard Group Inc. increased its holdings in EQT by 8.6% during the third quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock worth $1,822,027,000 after buying an additional 3,539,661 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in EQT by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,883,676 shares of the oil and gas producer’s stock worth $2,044,484,000 after acquiring an additional 3,159,700 shares during the period. Boston Partners boosted its stake in EQT by 4,680.4% in the fourth quarter. Boston Partners now owns 2,868,030 shares of the oil and gas producer’s stock valued at $110,854,000 after acquiring an additional 2,808,034 shares during the last quarter. Finally, Third Point LLC bought a new position in shares of EQT during the 4th quarter valued at approximately $75,387,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on EQT shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $37.00 target price (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Mizuho lifted their target price on shares of EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Wells Fargo & Company cut shares of EQT from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $48.00 to $37.00 in a research note on Wednesday, April 17th. Jefferies Financial Group lifted their price objective on shares of EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, TD Cowen started coverage on EQT in a research report on Friday, April 19th. They set a “hold” rating and a $43.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.29.

EQT Price Performance

NYSE EQT traded down $0.20 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. The stock has a market cap of $16.34 billion, a PE ratio of 26.96 and a beta of 1.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.88. EQT Co. has a 12 month low of $32.07 and a 12 month high of $45.23. The stock has a 50-day simple moving average of $39.31 and a 200 day simple moving average of $37.50.

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

EQT Announces Dividend

The business 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 was Tuesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.70%. EQT’s payout ratio is presently 45.65%.

Insider Buying and Selling

In related news, insider Lesley Evancho sold 46,884 shares of the 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 transaction, the insider now owns 160,884 shares in the company, valued at $6,642,900.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction 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 directly owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction on Tuesday, May 28th. The shares were 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 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 company insiders.

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.