Connectus Wealth LLC Has $896,000 Position in EQT Co. (NYSE:EQT)

Connectus Wealth LLC boosted its holdings in shares of EQT Co. (NYSE:EQTFree Report) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,188 shares of the oil and gas producer’s stock after buying an additional 514 shares during the period. Connectus Wealth LLC’s holdings in EQT were worth $896,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of EQT. Teilinger Capital Ltd. bought a new position in shares of EQT during the fourth quarter valued at $19,330,000. Schroder Investment Management Group lifted its holdings in shares of EQT by 1.7% during the fourth quarter. Schroder Investment Management Group now owns 358,486 shares of the oil and gas producer’s stock valued at $13,859,000 after acquiring an additional 6,132 shares during the period. Northern Trust Corp lifted its holdings in shares of EQT by 8.9% during the fourth quarter. Northern Trust Corp now owns 3,981,749 shares of the oil and gas producer’s stock valued at $153,934,000 after acquiring an additional 324,411 shares during the period. Cibc World Markets Corp lifted its holdings in shares of EQT by 162.4% during the fourth quarter. Cibc World Markets Corp now owns 52,370 shares of the oil and gas producer’s stock valued at $2,025,000 after acquiring an additional 32,409 shares during the period. Finally, Gabelli Funds LLC bought a new position in shares of EQT in the fourth quarter valued at about $2,822,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Insider Transactions at EQT

In other news, EVP William E. Jordan sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the sale, the executive vice president now owns 456,837 shares in the company, valued at approximately $18,602,402.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Lesley Evancho sold 46,884 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the sale, the insider now owns 160,884 shares in the company, valued at approximately $6,642,900.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William E. Jordan sold 35,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the completion of the sale, the executive vice president now owns 456,837 shares in the company, valued at approximately $18,602,402.64. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

EQT Price Performance

Shares of EQT opened at $41.13 on Tuesday. EQT Co. has a 52-week low of $32.07 and a 52-week high of $45.23. The firm has a market capitalization of $18.16 billion, a PE ratio of 29.80 and a beta of 1.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a 50 day simple moving average of $39.38 and a 200 day simple moving average of $37.64.

EQT (NYSE:EQTGet Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the business posted $1.70 EPS. The business’s revenue was down 28.8% compared to the same quarter last year. Sell-side analysts predict that EQT Co. will post 1.03 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th were paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, May 7th. EQT’s dividend payout ratio is currently 45.65%.

Analyst Ratings Changes

A number of research analysts recently issued reports on EQT shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price target on shares of EQT in a report on Tuesday, March 5th. Mizuho lifted their price target on EQT from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, May 13th. The Goldman Sachs Group cut their price target on EQT from $48.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Wells Fargo & Company cut EQT from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $48.00 to $37.00 in a report on Wednesday, April 17th. Finally, Truist Financial dropped their price objective on EQT from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.24.

Check Out Our Latest Report on EQT

About EQT

(Free Report)

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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