GAMMA Investing LLC Raises Stock Position in EQT Co. (NYSE:EQT)

GAMMA Investing LLC boosted its holdings in shares of EQT Co. (NYSE:EQT) by 50.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,332 shares of the oil and gas producer’s stock after purchasing an additional 1,783 shares during the period. GAMMA Investing LLC’s holdings in EQT were worth $197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in EQT. Price T Rowe Associates Inc. MD increased its holdings in shares of EQT by 22.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after purchasing an additional 11,993,729 shares in the last quarter. Vanguard Group Inc. increased its holdings in EQT by 8.4% in the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after buying an additional 3,942,802 shares in the last quarter. Wellington Management Group LLP raised its position in shares of EQT by 3.2% in the fourth quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock worth $785,580,000 after acquiring an additional 632,625 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of EQT by 27.9% during the 1st 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 in the last quarter. Finally, Capital World Investors increased its stake in shares of EQT by 1.5% in the 4th quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock valued at $673,678,000 after purchasing an additional 265,297 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EQT. Scotiabank raised their price objective on EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a report on Friday, July 12th. Stephens cut their price target on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. BMO Capital Markets increased 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. Morgan Stanley boosted their target price on shares of EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Finally, Truist Financial decreased their price target on shares of EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and an average target price of $45.50.

Insider Activity at EQT

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

EQT Trading Up 2.9 %

EQT stock traded up $0.88 during trading on Tuesday, reaching $31.09. 3,900,581 shares of the stock were exchanged, compared to its average volume of 7,167,057. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $13.73 billion, a price-to-earnings ratio of 22.32 and a beta of 1.12. The business has a 50 day moving average price of $37.41 and a 200-day moving average price of $37.14. EQT Co. has a 1 year low of $30.02 and a 1 year high of $45.23.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.12. The company had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.17) earnings per share. On average, 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. Investors of record on Wednesday, August 7th will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 2.03%. EQT’s payout ratio is currently 45.65%.

About EQT

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.