14,164 Shares in EQT Corporation $EQT Bought by denkapparat Operations GmbH

denkapparat Operations GmbH bought a new stake in EQT Corporation (NYSE:EQT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 14,164 shares of the oil and gas producer’s stock, valued at approximately $753,000.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of EQT in the 2nd quarter worth approximately $3,204,125,000. Wellington Management Group LLP boosted its stake in EQT by 41.4% in the second quarter. Wellington Management Group LLP now owns 22,565,479 shares of the oil and gas producer’s stock valued at $1,199,807,000 after acquiring an additional 6,603,286 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in EQT in the second quarter valued at approximately $512,148,000. Bank of America Corp DE grew its holdings in EQT by 7.2% in the second quarter. Bank of America Corp DE now owns 4,240,709 shares of the oil and gas producer’s stock worth $225,478,000 after purchasing an additional 284,244 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of EQT during the second quarter worth $163,705,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Price Performance

Shares of EQT stock opened at $55.68 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT Corporation has a twelve month low of $47.94 and a twelve month high of $68.24. The business has a 50-day moving average price of $52.63 and a 200 day moving average price of $56.36. The firm has a market cap of $34.83 billion, a PE ratio of 12.92 and a beta of 0.58.

EQT (NYSE:EQT) last issued its quarterly earnings results 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). EQT had a return on equity of 9.31% and a net margin of 28.44%.The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the company posted $0.45 EPS. The business’s revenue for the quarter was down 29.2% compared to the same quarter last year. Sell-side analysts predict that EQT Corporation will post 3.96 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th were given a dividend of $0.165 per share. The ex-dividend date was Wednesday, August 5th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. EQT’s dividend payout ratio (DPR) is 15.31%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Zacks Research raised EQT from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 27th. Stephens boosted their price target on EQT from $71.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Barclays cut their price objective on shares of EQT from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Sanford C. Bernstein reiterated an “outperform” rating on shares of EQT in a research note on Thursday, July 30th. Finally, Weiss Ratings lowered shares of EQT from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.10.

Insider Activity

In related news, CEO Toby 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 value of $9,648,299.84. Following the sale, the chief executive officer owned 2,157,865 shares of the company’s stock, valued at approximately $118,747,310.95. This trade represents a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is owned by company insiders.

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.