SG Americas Securities LLC Cuts Stock Position in EQT Corporation $EQT

SG Americas Securities LLC lessened its holdings in EQT Corporation (NYSE:EQT) by 21.5% in the first quarter, Holdings Channel reports. The firm owned 406,393 shares of the oil and gas producer’s stock after selling 111,258 shares during the period. SG Americas Securities LLC’s holdings in EQT were worth $25,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Greykasell Wealth Strategies Inc. bought a new stake in shares of EQT during the 4th quarter worth $26,000. Aventura Private Wealth LLC bought a new position in EQT during the fourth quarter valued at about $31,000. Fortitude Family Office LLC grew its position in EQT by 95.6% during the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 280 shares during the period. Elyxium Wealth LLC purchased a new stake in EQT during the fourth quarter worth about $49,000. Finally, Sound Income Strategies LLC increased its holdings in EQT by 186.4% during the fourth quarter. Sound Income Strategies LLC now owns 1,266 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 824 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at EQT

In related news, Director Vicky A. Bailey sold 4,116 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $59.80, for a total transaction of $246,136.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Toby Z. Rice sold 1,731 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $53.46, for a total value of $92,539.26. Following the sale, the chief executive officer directly owned 2,333,193 shares in the company, valued at $124,732,497.78. This trade represents a 0.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 102,830 shares of company stock worth $5,602,913. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

EQT has been the topic of a number of research analyst reports. Wolfe Research boosted their target price on shares of EQT from $64.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Piper Sandler lifted their price target on shares of EQT from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Truist Financial reduced their price objective on EQT from $74.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday. BMO Capital Markets decreased their target price on EQT from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Finally, Morgan Stanley boosted their target price on EQT from $69.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, EQT presently has an average rating of “Moderate Buy” and an average target price of $68.29.

EQT Price Performance

EQT opened at $51.56 on Thursday. The firm has a 50-day moving average price of $55.65 and a 200-day moving average price of $57.08. EQT Corporation has a twelve month low of $48.47 and a twelve month high of $68.24. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $32.25 billion, a price-to-earnings ratio of 9.78 and a beta of 0.55.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.32. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.14 billion. EQT had a net margin of 31.94% and a return on equity of 9.74%. During the same period in the prior year, the company posted $1.18 EPS. Equities analysts expect that EQT Corporation will post 4.7 EPS for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Wednesday, May 6th were given a dividend of $0.165 per share. The ex-dividend date was Wednesday, May 6th. This represents a $0.66 annualized dividend and a dividend yield of 1.3%. EQT’s dividend payout ratio is currently 12.52%.

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.