Toth Financial Advisory Corp Lowers Stake in EQT Corporation $EQT

Toth Financial Advisory Corp lowered its holdings in EQT Corporation (NYSE:EQT) by 86.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,950 shares of the oil and gas producer’s stock after selling 18,265 shares during the period. Toth Financial Advisory Corp’s holdings in EQT were worth $157,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in EQT in the 2nd quarter worth about $3,204,125,000. Bank of New York Mellon Corp purchased a new position in shares of EQT during the 2nd quarter worth about $512,148,000. Wellington Management Group LLP boosted its position in shares of EQT by 41.4% in the second quarter. Wellington Management Group LLP now owns 22,565,479 shares of the oil and gas producer’s stock worth $1,199,807,000 after acquiring an additional 6,603,286 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in EQT in the second quarter valued at approximately $163,705,000. Finally, Legal & General Group Plc acquired a new position in EQT during the second quarter worth approximately $127,420,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at EQT

In related news, CEO Toby Z. Rice sold 175,328 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the transaction, the chief executive officer owned 2,157,865 shares in the company, valued at $118,747,310.95. The trade was a 7.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 274,042 shares of company stock worth $15,005,076. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EQT. Barclays decreased their price target on shares of EQT from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Weiss Ratings lowered EQT from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. BMO Capital Markets dropped their price target on EQT from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Freedom Capital raised EQT to a “strong-buy” rating in a research note on Tuesday, June 30th. Finally, Truist Financial dropped their target price on shares of EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.10.

EQT Stock Down 0.4%

Shares of NYSE EQT opened at $54.56 on Friday. The stock has a fifty day moving average price of $52.33 and a 200 day moving average price of $56.40. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT Corporation has a 12-month low of $47.94 and a 12-month high of $68.24. The company has a market cap of $34.13 billion, a P/E ratio of 12.66 and a beta of 0.58.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). EQT had a return on equity of 9.31% and a net margin of 28.44%.The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The company’s revenue for the quarter was down 29.2% compared to the same quarter last year. Research analysts anticipate that EQT Corporation will post 3.96 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, August 5th. EQT’s dividend payout ratio (DPR) is presently 15.31%.

EQT Company Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.