EQT Corporation $EQT Shares Acquired by Aberdeen Group plc

Aberdeen Group plc grew its stake in shares of EQT Corporation (NYSE:EQT) by 30.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,720 shares of the oil and gas producer’s stock after purchasing an additional 13,122 shares during the period. Aberdeen Group plc’s holdings in EQT were worth $2,971,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wedbush Securities Inc. purchased a new stake in shares of EQT during the first quarter valued at $216,000. Allianz Asset Management GmbH lifted its holdings in shares of EQT by 36.3% during the first quarter. Allianz Asset Management GmbH now owns 205,679 shares of the oil and gas producer’s stock valued at $10,989,000 after purchasing an additional 54,779 shares during the last quarter. Kingsman Wealth Management Inc. purchased a new stake in shares of EQT during the first quarter valued at $1,284,000. Axxcess Wealth Management LLC lifted its holdings in shares of EQT by 7.0% during the first quarter. Axxcess Wealth Management LLC now owns 6,661 shares of the oil and gas producer’s stock valued at $356,000 after purchasing an additional 434 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of EQT during the first quarter valued at $226,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Stock Performance

Shares of EQT stock opened at $51.2750 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. EQT Corporation has a fifty-two week low of $31.45 and a fifty-two week high of $61.02. The stock’s 50-day moving average is $55.08 and its two-hundred day moving average is $53.13. The firm has a market cap of $32.00 billion, a P/E ratio of 27.72, a PEG ratio of 0.37 and a beta of 0.59.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same period in the previous year, the company earned ($0.08) earnings per share. Analysts predict that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be issued a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.2%. EQT’s dividend payout ratio is currently 34.05%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Mizuho raised EQT to an “outperform” rating and set a $66.00 target price for the company in a report on Tuesday, July 8th. Wells Fargo & Company increased their price objective on EQT from $59.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, June 16th. Morgan Stanley reissued an “overweight” rating on shares of EQT in a research note on Tuesday, July 15th. Scotiabank increased their price objective on EQT from $66.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 13th. Finally, Melius Research initiated coverage on EQT in a research note on Wednesday. They issued a “buy” rating and a $64.00 price objective for the company. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.71.

Insider Transactions at EQT

In other news, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction of $646,029.72. Following the transaction, the executive vice president owned 13,297 shares of the company’s stock, valued at approximately $690,646.18. This represents a 48.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Vicky A. Bailey sold 4,259 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The disclosure for this sale can be found here. Corporate insiders own 0.65% 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.