MQS Management LLC Invests $232,000 in EQT Co. (NYSE:EQT)

MQS Management LLC bought a new stake in EQT Co. (NYSE:EQT) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 6,256 shares of the oil and gas producer’s stock, valued at approximately $232,000.

Several other large investors have also modified their holdings of the stock. Private Wealth Management Group LLC acquired a new position in EQT in the fourth quarter worth $30,000. Principal Securities Inc. acquired a new position in shares of EQT in the 4th quarter valued at about $51,000. First United Bank & Trust bought a new stake in shares of EQT during the 4th quarter valued at about $69,000. Allworth Financial LP raised its stake in EQT by 72.1% during the fourth quarter. Allworth Financial LP now owns 2,292 shares of the oil and gas producer’s stock worth $89,000 after acquiring an additional 960 shares during the period. Finally, Riverview Trust Co bought a new position in EQT in the first quarter worth about $102,000. Institutional investors own 90.81% of the company’s stock.

EQT Price Performance

NYSE EQT traded down $0.71 on Thursday, reaching $34.39. The company’s stock had a trading volume of 11,096,923 shares, compared to its average volume of 7,137,478. The firm’s 50 day moving average is $38.46 and its two-hundred day moving average is $37.32. The stock has a market cap of $15.19 billion, a PE ratio of 24.92 and a beta of 1.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. EQT Co. has a twelve month low of $32.07 and a twelve month high of $45.23.

EQT (NYSE:EQT) last released its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.12. The business had revenue of $952.51 million during the quarter, compared to analyst estimates of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.55%. The business’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.17) earnings per share. As a group, sell-side analysts predict that EQT Co. will post 1.32 EPS for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Wednesday, August 7th. EQT’s payout ratio is 45.65%.

Insider Transactions at EQT

In related news, EVP William E. Jordan sold 35,000 shares of the 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 completion of the transaction, the executive vice president now owns 456,837 shares in the company, valued at approximately $18,602,402.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP William E. Jordan sold 35,000 shares of the stock in a transaction dated 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 completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $1,935,840.36. Following the sale, the insider now directly owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The disclosure for this sale can be found here. 0.63% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on EQT shares. BMO Capital Markets upped their target price on EQT from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, May 13th. Truist Financial dropped their target price on EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday. Jefferies Financial Group raised their target price on EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Scotiabank increased their price objective on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Friday, July 12th. Finally, StockNews.com raised shares of EQT to a “sell” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.

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.