Key Points
- EQT CEO Toby Rice sold 96,983 shares on June 5 in a pre-arranged Rule 10b5-1 trade, generating about $5.26 million and reducing his direct ownership by 3.99%.
- The company’s latest earnings beat expectations, with quarterly EPS of $2.33 versus the $2.01 consensus, while revenue matched estimates at $3.14 billion.
- Wall Street remains generally constructive on EQT, with analysts giving it a consensus “Moderate Buy” rating and an average target price of $68.83, while the stock also pays a quarterly dividend yielding about 1.3%.
EQT Corporation (NYSE:EQT - Get Free Report) CEO Toby Rice sold 1,731 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $53.46, for a total value of $92,539.26. Following the completion of the transaction, the chief executive officer directly owned 2,333,193 shares in the company, valued at approximately $124,732,497.78. This represents a 0.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
EQT Stock Down 0.6%
EQT stock opened at $52.69 on Wednesday. EQT Corporation has a fifty-two week low of $48.47 and a fifty-two week high of $68.24. The business's 50-day moving average is $57.64 and its two-hundred day moving average is $57.65. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $32.95 billion, a price-to-earnings ratio of 10.00 and a beta of 0.55.
EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.32. The business had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $3.14 billion. EQT had a return on equity of 9.74% and a net margin of 31.94%.During the same quarter in the prior year, the business posted $1.18 earnings per share. As a group, analysts forecast that EQT Corporation will post 4.7 earnings per share for the current year.
EQT Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Wednesday, May 6th were given a $0.165 dividend. The ex-dividend date was Wednesday, May 6th. This represents a $0.66 dividend on an annualized basis and a yield of 1.3%. EQT's dividend payout ratio is presently 12.52%.
Hedge Funds Weigh In On EQT
Hedge funds have recently made changes to their positions in the business. Greykasell Wealth Strategies Inc. bought a new position in shares of EQT in the fourth quarter worth about $26,000. Aventura Private Wealth LLC bought a new position in shares of EQT in the fourth quarter worth about $31,000. Fortitude Family Office LLC boosted its stake in shares of EQT by 95.6% in the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer's stock worth $31,000 after acquiring an additional 280 shares during the period. Elyxium Wealth LLC bought a new position in EQT during the fourth quarter valued at approximately $49,000. Finally, Root Financial Partners LLC boosted its stake in EQT by 35.4% during the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer's stock valued at $49,000 after buying an additional 202 shares during the last quarter. Institutional investors own 90.81% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have commented on EQT. BMO Capital Markets reduced their price target on EQT from $76.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Evercore upped their price target on EQT from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Wells Fargo & Company upped their price target on EQT from $70.00 to $79.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Stephens reduced their price target on EQT from $78.00 to $73.00 and set an "overweight" rating for the company in a research report on Tuesday, April 21st. Finally, Capital One Financial upped their price target on EQT from $64.00 to $68.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $68.83.
Check Out 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.
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