SG Americas Securities LLC Raises Stock Position in EQT Corporation $EQT

SG Americas Securities LLC increased its position in shares of EQT Corporation (NYSE:EQT) by 1,286.2% during the second quarter, HoldingsChannel.com reports. The fund owned 735,936 shares of the oil and gas producer’s stock after acquiring an additional 682,844 shares during the period. SG Americas Securities LLC’s holdings in EQT were worth $42,920,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of EQT by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer’s stock valued at $3,955,922,000 after purchasing an additional 1,509,054 shares in the last quarter. Northern Trust Corp boosted its stake in EQT by 2.0% during the first quarter. Northern Trust Corp now owns 5,692,985 shares of the oil and gas producer’s stock valued at $304,176,000 after buying an additional 113,716 shares during the period. Charles Schwab Investment Management Inc. grew its position in EQT by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,204,106 shares of the oil and gas producer’s stock worth $278,055,000 after buying an additional 110,249 shares in the last quarter. Neuberger Berman Group LLC increased its stake in EQT by 10.3% in the 1st quarter. Neuberger Berman Group LLC now owns 5,191,780 shares of the oil and gas producer’s stock worth $277,397,000 after acquiring an additional 484,671 shares during the last quarter. Finally, Amundi raised its holdings in shares of EQT by 0.8% in the 1st quarter. Amundi now owns 2,700,814 shares of the oil and gas producer’s stock valued at $140,685,000 after acquiring an additional 21,395 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Insider Activity

In other EQT news, EVP J.E.B. Bolen sold 1,422 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $52.79, for a total transaction of $75,067.38. Following the completion of the transaction, the executive vice president owned 69,486 shares of the company’s stock, valued at approximately $3,668,165.94. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is currently owned by insiders.

EQT Stock Performance

EQT stock opened at $60.09 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29. The firm has a market cap of $37.50 billion, a P/E ratio of 20.58, a P/E/G ratio of 0.44 and a beta of 0.55. EQT Corporation has a 1-year low of $42.27 and a 1-year high of $61.26. The firm has a 50-day moving average of $54.19 and a 200-day moving average of $54.42.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. EQT had a return on equity of 6.88% and a net margin of 22.59%.The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the firm earned $0.12 earnings per share. The business’s revenue was up 52.6% compared to the same quarter last year. Sell-side analysts expect that EQT Corporation will post 3.27 EPS for the current year.

EQT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 5th will be given a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from EQT’s previous quarterly dividend of $0.16. EQT’s payout ratio is currently 22.60%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EQT shares. Melius initiated coverage on shares of EQT in a research report on Wednesday, August 20th. They set a “buy” rating and a $64.00 target price for the company. Citigroup raised their price objective on shares of EQT from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Royal Bank Of Canada upped their target price on shares of EQT from $60.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 7th. The Goldman Sachs Group reduced their target price on EQT from $68.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Finally, Piper Sandler raised their price target on EQT from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Eighteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.74.

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.