Key Points
- Insider sale: Director Lesley Evancho sold 20,000 EQT shares at an average price of $60.69 for a total of $1,213,800, reducing her holdings by 9.77% to 184,607 shares; the sale was disclosed on an SEC Form 4.
- Quarterly results and stock move: EQT beat EPS estimates with $0.90 vs. $0.76 expected and reported revenue of $2.09 billion (up 24.8% YoY), while the stock traded up about 1.2% to $62.43 and the company has a market cap near $39 billion.
- Dividend and analyst view: EQT paid a $0.165 quarterly dividend (annualized $0.66, yield ~1.1%), and analysts hold a consensus "Moderate Buy" rating with an average price target of $66.09; institutional investors own roughly 90.8% of the shares.
EQT Corporation (NYSE:EQT - Get Free Report) insider Lesley Evancho sold 20,000 shares of the company's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $60.69, for a total transaction of $1,213,800.00. Following the transaction, the insider owned 184,607 shares in the company, valued at $11,203,798.83. This represents a 9.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
EQT Stock Up 1.2%
Shares of EQT traded up $0.76 during trading hours on Friday, reaching $62.43. 1,795,400 shares of the stock traded hands, compared to its average volume of 10,530,909. The company has a market cap of $39.01 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 0.41 and a beta of 0.72. EQT Corporation has a 52 week low of $43.57 and a 52 week high of $63.06. 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 simple moving average of $55.83 and a 200 day simple moving average of $55.09.
EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings data 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. EQT had a return on equity of 7.25% and a net margin of 23.59%.The business had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the previous year, the business posted $0.69 EPS. The firm's quarterly revenue was up 24.8% compared to the same quarter last year. On average, equities analysts forecast that EQT Corporation will post 3.27 EPS for the current year.
EQT Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were paid 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 was Tuesday, February 17th. EQT's dividend payout ratio (DPR) is presently 19.94%.
Institutional Investors Weigh In On EQT
Large investors have recently modified their holdings of the stock. Caxton Associates LLP purchased a new stake in EQT in the 1st quarter valued at approximately $256,000. Focus Partners Wealth raised its position in shares of EQT by 9.0% during the 1st 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 during the last quarter. Sound Shore Management Inc CT acquired a new stake in EQT during the 2nd quarter valued at $67,539,000. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of EQT by 0.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 246,947 shares of the oil and gas producer's stock valued at $14,402,000 after buying an additional 856 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in EQT by 1,286.2% during the second quarter. SG Americas Securities LLC now owns 735,936 shares of the oil and gas producer's stock worth $42,920,000 after buying an additional 682,844 shares during the period. Hedge funds and other institutional investors own 90.81% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on EQT shares. Mizuho lifted their price target on shares of EQT from $60.00 to $68.00 and gave the company an "outperform" rating in a report on Friday, December 12th. Piper Sandler increased their price objective on EQT from $50.00 to $55.00 and gave the stock a "neutral" rating in a research note on Thursday. Barclays lifted their price objective on shares of EQT from $64.00 to $67.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. UBS Group cut their price objective on shares of EQT from $76.00 to $75.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Citigroup decreased their price objective on EQT from $63.00 to $62.00 and set a "buy" rating for the company in a report on Friday, December 19th. 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. Based on data from MarketBeat.com, EQT currently has an average rating of "Moderate Buy" and a consensus price target of $66.09.
View Our Latest Report 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.
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