EQT Corporation $EQT Stock Holdings Raised by Park Avenue Securities LLC

Park Avenue Securities LLC increased its stake in shares of EQT Corporation (NYSE:EQT) by 77.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,945 shares of the oil and gas producer’s stock after purchasing an additional 15,720 shares during the quarter. Park Avenue Securities LLC’s holdings in EQT were worth $1,746,000 as of its most recent SEC filing.

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

EQT Price Performance

Shares of EQT stock opened at $55.38 on Monday. EQT Corporation has a fifty-two week low of $47.94 and a fifty-two week high of $68.24. The firm has a market capitalization of $34.64 billion, a price-to-earnings ratio of 13.12 and a beta of 0.68. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.71 and a current ratio of 0.71. The stock’s 50-day simple moving average is $53.20 and its 200-day simple moving average is $55.49.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 27th. The oil and gas producer reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.76 billion. EQT had a net margin of 28.40% and a return on equity of 8.89%. EQT’s revenue was down 9.6% on a year-over-year basis. During the same period last year, the firm posted $0.52 EPS. As a group, equities analysts forecast that EQT Corporation will post 3.88 earnings per share for the current fiscal year.

EQT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 4th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, November 4th. This is a positive change from EQT’s previous quarterly dividend of $0.1650. EQT’s dividend payout ratio (DPR) is currently 15.64%.

Key Headlines Impacting EQT

Here are the key news stories impacting EQT this week:

• Positive Sentiment: The Range Resources transaction is expected to make EQT a substantially larger natural-gas company—potentially about 25% larger than its nearest rival—with greater scale, more liquids-rich production and anticipated operating synergies. EQT-Range Deal Will Create $50B Gas Champion EQT and Range Resources Are Merging
• Positive Sentiment: CEO Toby Rice characterized the Range acquisition as creating a higher-quality business, while EQT’s expanded Gulf Coast footprint supports its longer-term strategy of supplying global liquefied natural gas markets. EQT CEO Toby Rice on buying Range Resources EQT expands Gulf Coast footprint
• Positive Sentiment: EQT’s third-quarter adjusted EPS of $0.42 exceeded the $0.37 consensus estimate, and capital spending was reportedly 10% below guidance, supporting cash-flow discipline. EQT Reports Q3 Earnings
• Neutral Sentiment: Some commentary continues to describe EQT as undervalued after its substantial five-year advance, which may provide valuation support but also leaves expectations elevated. EQT Stock Still Looks Undervalued
• Negative Sentiment: Third-quarter revenue declined 9.6% year over year and production volumes fell 8%, while one analysis argued that EQT’s high free-cash-flow margin could precede weaker cyclical performance. EQT Distribute Rating After Q3 Earnings
• Negative Sentiment: Freedom Broker, Wells Fargo and Scotiabank each lowered expectations or price targets for EQT. Freedom nevertheless retained a “buy” rating, indicating reduced upside assumptions rather than an outright bearish view. Freedom Broker Lowers EQT Expectations Wells Fargo Lowers EQT Expectations

Insider Activity

In other EQT news, CEO Toby Rice sold 175,328 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the transaction, the chief executive officer owned 2,157,865 shares of the company’s stock, valued at approximately $118,747,310.95. This trade represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

EQT has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on shares of EQT in a research report on Wednesday, September 9th. They set a “buy” rating and a $66.00 target price for the company. Stephens raised their target price on shares of EQT from $71.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, October 27th. Freedom Broker cut their price target on shares of EQT from $81.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Mizuho reduced their price target on EQT from $72.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Finally, Wall Street Zen lowered EQT from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.78.

EQT Profile

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company develops and operates unconventional oil and gas properties, with a primary focus on natural gas and natural gas liquids produced from shale formations.

EQT’s operations are concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations in Pennsylvania, West Virginia and Ohio. Its activities include drilling, completion, production and management of natural gas wells, along with related gathering and infrastructure operations that support the transportation of its products to market.

The company traces its roots to Equitable Gas, founded in 1878, and has evolved through multiple stages of expansion and restructuring in the U.S.