Key Points
- Insider sale: EQT EVP Sarah Fenton sold 3,768 shares on Feb. 20 at an average of $60.37 for $227,474.16, trimming her stake by 6.66% to 52,806 shares (SEC Form 4 filed).
- Quarterly results & dividend: EQT reported $0.90 EPS (vs. $0.76 est.) and revenue of $2.09B (+24.8% YoY) and declared a $0.165 quarterly dividend (1.1% yield, $0.66 annualized).
- Market view: The stock trades near $58.35 with a $36.4B market cap, a PE of 17.6, and a consensus "Moderate Buy" analyst target of $65.55, with broker ratings ranging from Hold to Strong Buy.
EQT Corporation (NYSE:EQT - Get Free Report) EVP Sarah Fenton sold 3,768 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $60.37, for a total transaction of $227,474.16. Following the sale, the executive vice president directly owned 52,806 shares in the company, valued at $3,187,898.22. This represents a 6.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
EQT Trading Down 1.2%
NYSE:EQT opened at $58.35 on Wednesday. EQT Corporation has a 12-month low of $43.57 and a 12-month high of $62.23. The firm has a market cap of $36.43 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 0.42 and a beta of 0.74. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average price of $54.86 and a 200 day moving average price of $54.69.
EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 EPS for the quarter, topping the consensus estimate of $0.76 by $0.14. The company had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.13 billion. EQT had a net margin of 23.59% and a return on equity of 7.25%. The firm's revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 EPS. Sell-side analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current fiscal year.
EQT Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.66 annualized dividend and a dividend yield of 1.1%. EQT's dividend payout ratio (DPR) is presently 19.94%.
Institutional Investors Weigh In On EQT
Hedge funds and other institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. increased its position in shares of EQT by 8,000.9% in the third quarter. Cullen Frost Bankers Inc. now owns 153,431 shares of the oil and gas producer's stock valued at $8,351,000 after buying an additional 151,537 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in EQT by 116.4% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 534,485 shares of the oil and gas producer's stock valued at $29,092,000 after acquiring an additional 287,538 shares during the last quarter. First American Bank purchased a new position in EQT during the 3rd quarter valued at about $1,915,000. Adams Natural Resources Fund Inc. raised its position in EQT by 97.1% during the third quarter. Adams Natural Resources Fund Inc. now owns 220,500 shares of the oil and gas producer's stock worth $12,002,000 after acquiring an additional 108,600 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan raised its position in EQT by 131.7% during the third quarter. Canada Post Corp Registered Pension Plan now owns 87,629 shares of the oil and gas producer's stock worth $4,772,000 after acquiring an additional 49,803 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on EQT. Piper Sandler raised their target price on shares of EQT from $49.00 to $50.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 18th. Siebert Williams Shank increased their price target on shares of EQT from $59.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, January 26th. Stephens lifted their price objective on shares of EQT from $70.00 to $71.00 and gave the company an "overweight" rating in a research note on Wednesday, February 18th. TD Securities upgraded shares of EQT to a "strong-buy" rating in a research note on Friday, February 20th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of EQT in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.55.
Get Our Latest Stock Analysis on EQT
About EQT
(
Get Free Report)
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.
Further Reading
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