Bridgewater Advisors Inc. Takes $981,000 Position in EQT Corporation $EQT

Bridgewater Advisors Inc. acquired a new stake in EQT Corporation (NYSE:EQT) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 18,630 shares of the oil and gas producer’s stock, valued at approximately $981,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. purchased a new stake in shares of EQT in the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new position in EQT in the fourth quarter worth $49,000. Root Financial Partners LLC lifted its holdings in EQT by 35.4% in the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock valued at $49,000 after acquiring an additional 202 shares during the period. Sunbelt Securities Inc. acquired a new stake in EQT in the third quarter valued at $114,000. Finally, Sound Income Strategies LLC boosted its position in shares of EQT by 55.3% during the 1st quarter. Sound Income Strategies LLC now owns 1,966 shares of the oil and gas producer’s stock worth $120,000 after purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Trading Up 0.7%

NYSE EQT opened at $54.44 on Friday. EQT Corporation has a 12 month low of $47.94 and a 12 month high of $68.24. The company has a 50-day moving average of $51.87 and a 200-day moving average of $56.54. The company has a market cap of $34.05 billion, a P/E ratio of 12.63 and a beta of 0.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The business’s revenue for the quarter was down 29.2% on a year-over-year basis. During the same period last year, the company posted $0.45 EPS. As a group, equities analysts predict that EQT Corporation will post 4.06 earnings per share for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be issued a $0.165 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. EQT’s dividend payout ratio (DPR) is presently 15.31%.

Insider Transactions at EQT

In other EQT news, CEO Toby Z. Rice sold 1,731 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $53.46, for a total transaction of $92,539.26. Following the completion of the sale, the chief executive officer owned 2,333,193 shares of the company’s stock, valued at approximately $124,732,497.78. The trade was a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on EQT. Citigroup lowered their price target on shares of EQT from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Sanford C. Bernstein reissued an “outperform” rating on shares of EQT in a report on Thursday, July 30th. The Goldman Sachs Group dropped their target price on shares of EQT from $65.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Wells Fargo & Company lifted their price target on shares of EQT from $70.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Finally, Jefferies Financial Group decreased their price target on EQT from $77.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $68.08.

EQT Company Profile

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.