Citizens Financial Group Inc. RI Invests $7.65 Million in EQT Corporation $EQT

Citizens Financial Group Inc. RI purchased a new position in EQT Corporation (NYSE:EQT) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 143,848 shares of the oil and gas producer’s stock, valued at approximately $7,648,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of EQT during the second quarter valued at $3,204,125,000. Bank of New York Mellon Corp bought a new stake in EQT during the 2nd quarter valued at about $512,148,000. Deutsche Bank AG bought a new stake in EQT during the 2nd quarter valued at about $119,461,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in EQT in the second quarter worth about $110,177,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in EQT in the second quarter worth about $78,630,000. Institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on EQT shares. Capital One Financial upped their target price on shares of EQT from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. BMO Capital Markets reduced their price target on shares of EQT from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Wall Street Zen lowered shares of EQT from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Stephens upped their price objective on EQT from $71.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Finally, UBS Group cut their target price on EQT from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.48.

EQT Price Performance

Shares of NYSE:EQT opened at $53.07 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $33.20 billion, a price-to-earnings ratio of 12.31 and a beta of 0.58. The business has a 50-day simple moving average of $51.87 and a two-hundred day simple moving average of $56.53. EQT Corporation has a fifty-two week low of $47.94 and a fifty-two week high of $68.24.

EQT (NYSE:EQT) last announced 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 net margin of 28.44% and a return on equity of 9.31%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the business earned $0.45 EPS. The business’s revenue was down 29.2% compared to the same quarter last year. On average, analysts expect that EQT Corporation will post 4.06 earnings per share for the current year.

EQT Announces Dividend

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

Insider Transactions at EQT

In other EQT news, CEO Toby Z. Rice sold 1,731 shares of EQT stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $53.46, for a total value of $92,539.26. Following the completion of the sale, the chief executive officer owned 2,333,193 shares of the company’s stock, valued at approximately $124,732,497.78. The trade was a 0.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.72% of the company’s stock.

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.