Fifth Third Wealth Advisors LLC Purchases 10,256 Shares of EQT Corporation $EQT

Fifth Third Wealth Advisors LLC grew its position in EQT Corporation (NYSE:EQT) by 36.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 38,173 shares of the oil and gas producer’s stock after purchasing an additional 10,256 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in EQT were worth $2,429,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. acquired a new position in shares of EQT during the 4th quarter worth $26,000. Aventura Private Wealth LLC acquired a new stake in EQT in the fourth quarter valued at about $31,000. Fortitude Family Office LLC boosted its stake in EQT by 95.6% in the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 280 shares in the last quarter. Elyxium Wealth LLC bought a new position in EQT in the fourth quarter valued at about $49,000. Finally, Sound Income Strategies LLC grew its position in EQT by 186.4% in the fourth quarter. Sound Income Strategies LLC now owns 1,266 shares of the oil and gas producer’s stock valued at $64,000 after acquiring an additional 824 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Stock Up 0.1%

Shares of NYSE EQT opened at $51.53 on Friday. The company has a 50 day simple moving average of $55.55 and a 200 day simple moving average of $57.02. The firm has a market cap of $32.23 billion, a PE ratio of 9.78 and a beta of 0.55. EQT Corporation has a 1 year low of $48.47 and a 1 year high of $68.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.66 and a quick ratio of 0.66.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.32. EQT had a net margin of 31.94% and a return on equity of 9.74%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the firm posted $1.18 EPS. On average, research analysts forecast that EQT Corporation will post 4.7 EPS for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Wednesday, May 6th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Wednesday, May 6th. EQT’s payout ratio is 12.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EQT shares. Zacks Research cut shares of EQT from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Stephens decreased their target price on shares of EQT from $78.00 to $73.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Capital One Financial boosted their target price on shares of EQT from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. The Goldman Sachs Group dropped their price target on EQT from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Finally, BMO Capital Markets cut their price objective on EQT from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, EQT has a consensus rating of “Moderate Buy” and an average target price of $68.29.

Insiders Place Their Bets

In related news, CEO Toby Z. Rice sold 96,983 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $54.28, for a total transaction of $5,264,237.24. Following the completion of the transaction, the chief executive officer directly owned 2,334,924 shares of the company’s stock, valued at $126,739,674.72. This trade represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky A. Bailey sold 4,116 shares of EQT stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $59.80, for a total value of $246,136.80. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 102,830 shares of company stock worth $5,602,913. 0.72% of the stock is owned by company insiders.

About EQT

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.