Whittier Trust Co. of Nevada Inc. Raises Stock Position in EQT Corporation $EQT

Whittier Trust Co. of Nevada Inc. lifted its stake in shares of EQT Corporation (NYSE:EQT) by 3.2% during the second quarter, HoldingsChannel.com reports. The fund owned 163,192 shares of the oil and gas producer’s stock after buying an additional 5,079 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in EQT were worth $9,516,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of EQT by 2.1% during the first quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer’s stock worth $3,955,922,000 after acquiring an additional 1,509,054 shares during the period. Northern Trust Corp boosted its stake in shares of EQT by 2.0% during the first quarter. Northern Trust Corp now owns 5,692,985 shares of the oil and gas producer’s stock valued at $304,176,000 after purchasing an additional 113,716 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of EQT by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,204,106 shares of the oil and gas producer’s stock valued at $278,055,000 after purchasing an additional 110,249 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in EQT by 10.3% in the first quarter. Neuberger Berman Group LLC now owns 5,191,780 shares of the oil and gas producer’s stock valued at $277,397,000 after acquiring an additional 484,671 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in EQT by 7.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,658,814 shares of the oil and gas producer’s stock valued at $251,017,000 after acquiring an additional 311,154 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Sarah Fenton sold 12,438 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $51.94, for a total value of $646,029.72. Following the transaction, the executive vice president directly owned 13,297 shares in the company, valued at approximately $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Vicky A. Bailey sold 4,259 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EQT shares. Barclays lowered their target price on shares of EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. The Goldman Sachs Group reduced their target price on EQT from $68.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of EQT in a research report on Tuesday, October 14th. Royal Bank Of Canada increased their price target on EQT from $60.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 7th. Finally, Melius Research started coverage on EQT in a research report on Wednesday, August 20th. They set a “buy” rating and a $64.00 price target on the stock. Eighteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $63.39.

EQT Stock Up 4.3%

Shares of NYSE EQT opened at $56.42 on Tuesday. EQT Corporation has a 12-month low of $35.44 and a 12-month high of $61.02. The stock has a market cap of $35.21 billion, a PE ratio of 30.50, a P/E/G ratio of 0.45 and a beta of 0.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $52.59 and a 200 day moving average of $53.58.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). EQT had a net margin of 15.87% and a return on equity of 6.24%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the company posted ($0.08) EPS. As a group, sell-side analysts predict that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 5th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $0.66 annualized dividend and a yield of 1.2%. This is a boost from EQT’s previous quarterly dividend of $0.16. EQT’s dividend payout ratio is currently 35.68%.

EQT Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.