K.J. Harrison & Partners Inc Invests $1.86 Million in EQT Corporation $EQT

K.J. Harrison & Partners Inc purchased a new stake in EQT Corporation (NYSE:EQT) in the second quarter, according to its most recent filing with the SEC. The fund purchased 35,000 shares of the oil and gas producer’s stock, valued at approximately $1,861,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Greykasell Wealth Strategies Inc. bought a new position in EQT during the fourth quarter worth $26,000. Root Financial Partners LLC boosted its holdings in 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 period. Elyxium Wealth LLC bought a new stake in EQT during the fourth quarter valued at $49,000. State of Wyoming bought a new stake in EQT during the second quarter valued at $58,000. Finally, Sound Income Strategies LLC raised its holdings in shares of EQT by 55.3% during the first quarter. Sound Income Strategies LLC now owns 1,966 shares of the oil and gas producer’s stock worth $120,000 after purchasing an additional 700 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EQT has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on shares of EQT from $70.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Capital One Financial upped their price objective on shares of EQT from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Wall Street Zen downgraded EQT from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. UBS Group reduced their price objective on shares of EQT from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of EQT in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.48.

EQT Stock Down 2.5%

Shares of EQT stock opened at $53.07 on Tuesday. The stock has a 50-day moving average price of $51.87 and a 200 day moving average price of $56.53. The company has a market cap of $33.20 billion, a P/E ratio of 12.31 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT Corporation has a 1 year low of $47.94 and a 1 year high of $68.24.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). EQT had a return on equity of 9.31% and a net margin of 28.44%.The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. The company’s revenue was down 29.2% compared to the same quarter last year. As a group, analysts expect that EQT Corporation will post 4.06 EPS for the current fiscal year.

EQT Dividend Announcement

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

Insider Buying and Selling at EQT

In related news, CEO Toby Z. Rice sold 96,983 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $54.28, for a total transaction of $5,264,237.24. Following the completion of the sale, the chief executive officer directly owned 2,334,924 shares in the company, valued at approximately $126,739,674.72. This trade represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.72% of the company’s stock.

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.