Jupiter Topco LLC Acquires New Holdings in EQT Corporation $EQT

Jupiter Topco LLC bought a new position in shares of EQT Corporation (NYSE:EQT) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 204,096 shares of the oil and gas producer’s stock, valued at approximately $10,851,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in EQT by 1.0% in the 4th quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer’s stock valued at $1,022,000 after acquiring an additional 198 shares during the period. Root Financial Partners LLC grew its stake in shares of EQT by 35.4% in the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 202 shares during the last quarter. Rothschild Investment LLC increased its holdings in EQT by 0.5% in the fourth quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer’s stock valued at $2,497,000 after purchasing an additional 215 shares during the period. EverSource Wealth Advisors LLC raised its position in EQT by 4.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer’s stock worth $392,000 after purchasing an additional 236 shares during the last quarter. Finally, Wedbush Fund Advisers LLC lifted its holdings in EQT by 251.8% during the 2nd quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 413 shares during the period. 90.81% of the stock is owned by institutional investors.

EQT Stock Down 0.4%

Shares of EQT stock opened at $54.56 on Friday. EQT Corporation has a one year low of $47.94 and a one year high of $68.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67. The stock’s 50-day moving average is $52.33 and its 200 day moving average is $56.40. The firm has a market cap of $34.13 billion, a price-to-earnings ratio of 12.66 and a beta of 0.58.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share 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 the consensus estimate of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The company’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Equities research analysts anticipate that EQT Corporation will post 3.96 EPS for the current year.

EQT Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Toby Z. Rice sold 175,328 shares of the company’s stock in a transaction dated 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 approximately $118,747,310.95. This represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 over the last ninety days. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EQT. Truist Financial decreased their price target on EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Citigroup cut their price objective on EQT from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. The Goldman Sachs Group decreased their target price on shares of EQT from $65.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Stephens boosted their price target on shares of EQT from $71.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Finally, Freedom Capital raised shares of EQT to a “strong-buy” rating in a research note on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and a consensus price target of $68.10.

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.