EQT Corporation $EQT Stock Position Lessened by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its holdings in shares of EQT Corporation (NYSE:EQT) by 32.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 285,232 shares of the oil and gas producer’s stock after selling 138,468 shares during the period. Hennessy Advisors Inc.’s holdings in EQT were worth $15,166,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Caxton Associates LLP bought a new stake in shares of EQT during the 1st quarter worth about $256,000. Focus Partners Wealth raised its holdings in EQT by 9.0% during the first quarter. Focus Partners Wealth now owns 21,637 shares of the oil and gas producer’s stock worth $1,156,000 after purchasing an additional 1,789 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in EQT by 495.2% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock worth $7,468,000 after purchasing an additional 106,545 shares in the last quarter. Captrust Financial Advisors lifted its position in EQT by 39.4% in the second quarter. Captrust Financial Advisors now owns 30,617 shares of the oil and gas producer’s stock worth $1,786,000 after purchasing an additional 8,658 shares during the period. Finally, Horizon Investments LLC lifted its position in EQT by 43.6% in the third quarter. Horizon Investments LLC now owns 85,502 shares of the oil and gas producer’s stock worth $4,640,000 after purchasing an additional 25,971 shares during the period. 90.81% of the stock is currently owned by institutional investors.

Insider Transactions at EQT

In other EQT news, CEO Toby Z. Rice sold 175,328 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the sale, the chief executive officer directly owned 2,157,865 shares of the company’s stock, valued at approximately $118,747,310.95. This represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 274,042 shares of company stock worth $15,005,076. 0.72% of the stock is currently owned by insiders.

EQT Stock Performance

EQT opened at $54.56 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. The firm has a market cap of $34.13 billion, a PE ratio of 12.66 and a beta of 0.58. The business has a fifty day simple moving average of $52.33 and a 200-day simple moving average of $56.40. EQT Corporation has a fifty-two week low of $47.94 and a fifty-two week high of $68.24.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (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 period last year, the firm earned $0.45 earnings per share. The firm’s revenue for the quarter was down 29.2% on a year-over-year basis. As a group, equities analysts predict that EQT Corporation will post 3.96 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be paid 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 yield of 1.2%. EQT’s dividend payout ratio (DPR) is currently 15.31%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Zacks Research upgraded EQT from a “strong sell” rating to a “hold” rating in a research report on Thursday. Citigroup cut their price objective on EQT from $70.00 to $67.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Weiss Ratings cut EQT from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Stephens boosted their price target on shares of EQT from $71.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of EQT in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.10.

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.