145,000 Shares in EQT Corporation $EQT Purchased by Flat Footed LLC

Flat Footed LLC bought a new stake in shares of EQT Corporation (NYSE:EQT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 145,000 shares of the oil and gas producer’s stock, valued at approximately $7,709,650,000. EQT accounts for approximately 0.6% of Flat Footed LLC’s investment portfolio, making the stock its 11th biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Greykasell Wealth Strategies Inc. bought a new position in EQT in the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. acquired a new stake in shares of EQT in the second quarter worth $26,000. Wedbush Fund Advisers LLC grew its stake in shares of EQT by 251.8% in the second quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 413 shares during the last quarter. Gables Capital Management Inc. bought a new position in EQT during the second quarter worth $37,000. Finally, Elyxium Wealth LLC bought a new position in EQT during the fourth quarter worth $49,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on EQT. Morgan Stanley reduced their price target on shares of EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Wednesday, August 19th. Weiss Ratings lowered shares of EQT from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. reduced their target price on shares of EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, June 23rd. Stephens boosted their price target on EQT from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Finally, Barclays cut their price target on EQT from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.10.

Insider Activity

In related news, CEO Toby Z. Rice sold 175,328 shares of the firm’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. This trade represents a 7.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 274,042 shares of company stock valued at $15,005,076. Corporate insiders own 0.72% of the company’s stock.

EQT Price Performance

Shares of EQT stock opened at $54.00 on Wednesday. The firm has a market cap of $33.78 billion, a P/E ratio of 12.53 and a beta of 0.58. The firm’s 50-day simple moving average is $52.10 and its 200-day simple moving average is $56.44. EQT Corporation has a twelve month low of $47.94 and a twelve month high of $68.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The business’s revenue for the quarter was down 29.2% on a year-over-year basis. During the same period last year, the company earned $0.45 EPS. As a group, research analysts expect that EQT Corporation will post 3.97 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. EQT’s dividend payout ratio 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.