Brasada Capital Management LP Raises Holdings in EQT Corporation $EQT

Brasada Capital Management LP grew its holdings in EQT Corporation (NYSE:EQT) by 966.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,350 shares of the oil and gas producer’s stock after purchasing an additional 77,350 shares during the period. Brasada Capital Management LP’s holdings in EQT were worth $4,538,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Caxton Associates LLP bought a new stake in EQT in the 1st quarter worth about $256,000. Focus Partners Wealth raised its position in EQT by 9.0% in the 1st quarter. Focus Partners Wealth now owns 21,637 shares of the oil and gas producer’s stock worth $1,156,000 after buying an additional 1,789 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in EQT by 495.2% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock valued at $7,468,000 after acquiring an additional 106,545 shares during the period. Captrust Financial Advisors lifted its stake in EQT by 39.4% during the 2nd quarter. Captrust Financial Advisors now owns 30,617 shares of the oil and gas producer’s stock valued at $1,786,000 after acquiring an additional 8,658 shares during the period. Finally, Horizon Investments LLC boosted its holdings in shares of EQT by 43.6% during the 3rd quarter. Horizon Investments LLC now owns 85,502 shares of the oil and gas producer’s stock valued at $4,640,000 after acquiring an additional 25,971 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Toby Z. Rice sold 175,328 shares of EQT stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the transaction, the chief executive officer owned 2,157,865 shares in the company, valued at $118,747,310.95. This trade represents a 7.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 274,042 shares of company stock valued at $15,005,076 in the last 90 days. 0.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

EQT has been the subject of several research reports. Truist Financial decreased their price objective on shares of EQT from $74.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Zacks Research cut shares of EQT from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. UBS Group dropped their target price on shares of EQT from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of EQT from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of EQT in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.10.

EQT Price Performance

NYSE EQT opened at $54.85 on Friday. EQT Corporation has a 52 week low of $47.94 and a 52 week high of $68.24. The firm has a market capitalization of $34.31 billion, a P/E ratio of 12.73 and a beta of 0.58. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $52.25 and a 200-day moving average price of $56.42.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The business’s quarterly revenue was down 29.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 EPS. Equities research analysts anticipate that EQT Corporation will post 3.97 earnings per share for the current year.

EQT Dividend Announcement

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

EQT 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.