Duff & Phelps Investment Management Co. Makes New Investment in EQT Corporation $EQT

Duff & Phelps Investment Management Co. purchased a new stake in shares of EQT Corporation (NYSE:EQT) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,592 shares of the oil and gas producer’s stock, valued at approximately $522,000.

A number of other large investors have also recently made changes to their positions in the stock. Westpac Banking Corp lifted its position in EQT by 6.6% during the third quarter. Westpac Banking Corp now owns 2,671 shares of the oil and gas producer’s stock valued at $145,000 after purchasing an additional 165 shares during the period. Rothschild Investment LLC grew its position in EQT by 1.0% in the 2nd quarter. Rothschild Investment LLC now owns 46,436 shares of the oil and gas producer’s stock worth $2,708,000 after purchasing an additional 463 shares during the period. Anchor Investment Management LLC raised its stake in EQT by 133.3% during the 2nd quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 500 shares during the last quarter. LRI Investments LLC lifted its holdings in shares of EQT by 32.7% during the 3rd quarter. LRI Investments LLC now owns 2,713 shares of the oil and gas producer’s stock valued at $148,000 after buying an additional 669 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of EQT in the 2nd quarter worth $41,000. 90.81% of the stock is currently owned by institutional investors.

EQT Stock Performance

Shares of EQT opened at $64.68 on Friday. The business has a 50-day simple moving average of $56.72 and a two-hundred day simple moving average of $55.49. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.27. EQT Corporation has a 52 week low of $43.57 and a 52 week high of $65.32. The stock has a market cap of $40.42 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 0.42 and a beta of 0.72.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.14. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.13 billion. EQT had a return on equity of 7.25% and a net margin of 23.59%.The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. On average, analysts expect that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.66 annualized dividend and a yield of 1.0%. EQT’s payout ratio is currently 19.94%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Sanford C. Bernstein upped their price objective on EQT from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. The Goldman Sachs Group dropped their target price on EQT from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Wells Fargo & Company upped their price target on shares of EQT from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. Barclays upped their price target on shares of EQT from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Finally, Jefferies Financial Group reissued a “buy” rating on shares of EQT in a report on Sunday, January 18th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.09.

Insider Buying and Selling at EQT

In other EQT news, insider Lesley Evancho sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $60.69, for a total value of $1,213,800.00. Following the completion of the transaction, the insider directly owned 184,607 shares in the company, valued at $11,203,798.83. This represents a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Todd James sold 32,514 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $61.12, for a total transaction of $1,987,255.68. Following the completion of the sale, the chief accounting officer directly owned 58,796 shares of the company’s stock, valued at approximately $3,593,611.52. This trade represents a 35.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 56,282 shares of company stock valued at $3,428,530 over the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

About EQT

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.