Key Points
- CAO Todd James sold 32,514 shares of EQT on Feb. 23 at an average price of $61.12 for roughly $1.99M, cutting his holdings by 35.61% to 58,796 shares (SEC Form 4 filed).
- EQT beat quarterly EPS estimates ($0.90 vs. $0.76) with revenue up 24.8% YoY, announced a $0.165 quarterly dividend (annualized $0.66, ~1.1% yield), and holds a MarketBeat consensus of Moderate Buy with an average price target of $65.55.
EQT Corporation (NYSE:EQT - Get Free Report) CAO Todd James sold 32,514 shares of EQT stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $61.12, for a total value of $1,987,255.68. Following the completion of the sale, the chief accounting officer directly owned 58,796 shares in the company, valued at $3,593,611.52. This represents a 35.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
EQT Stock Up 0.5%
Shares of EQT stock traded up $0.32 during trading on Thursday, reaching $59.70. The stock had a trading volume of 683,823 shares, compared to its average volume of 10,709,109. 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 company has a market capitalization of $37.27 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 0.42 and a beta of 0.74. The stock has a fifty day moving average price of $54.96 and a two-hundred day moving average price of $54.72. EQT Corporation has a 52 week low of $43.57 and a 52 week high of $62.23.
EQT (NYSE:EQT - Get Free Report) last announced its earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.14. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.13 billion. EQT had a return on equity of 7.25% and a net margin of 23.59%.EQT's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 EPS. Sell-side analysts predict that EQT Corporation will post 3.27 EPS for the current fiscal year.
EQT Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, February 17th. EQT's payout ratio is currently 19.94%.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on EQT. Capital One Financial lifted their target price on EQT from $55.00 to $58.00 and gave the company an "overweight" rating in a research report on Tuesday. TD Cowen upped their price objective on EQT from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Piper Sandler boosted their target price on shares of EQT from $49.00 to $50.00 and gave the stock a "neutral" rating in a report on Tuesday, November 18th. Zacks Research upgraded shares of EQT from a "strong sell" rating to a "hold" rating in a research note on Monday. Finally, Siebert Williams Shank boosted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $65.55.
Get Our Latest Report on EQT
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Greykasell Wealth Strategies Inc. bought a new stake in shares of EQT in the fourth quarter valued at approximately $26,000. Aventura Private Wealth LLC acquired a new position in EQT in the 4th quarter valued at $31,000. Fortitude Family Office LLC lifted its position in shares of EQT by 95.6% during the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 280 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of EQT during the 2nd quarter worth $41,000. Finally, Elyxium Wealth LLC bought a new position in shares of EQT in the fourth quarter worth $49,000. 90.81% of the stock is owned by institutional investors.
EQT Company Profile
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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.
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