SteelPeak Wealth LLC Increases Holdings in EQT Co. (NYSE:EQT)

SteelPeak Wealth LLC lifted its holdings in shares of EQT Co. (NYSE:EQT - Free Report) by 116.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,527 shares of the oil and gas producer's stock after buying an additional 30,927 shares during the period. SteelPeak Wealth LLC's holdings in EQT were worth $2,133,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Private Wealth Management Group LLC bought a new stake in shares of EQT in the 4th quarter valued at about $30,000. BKM Wealth Management LLC bought a new stake in EQT in the fourth quarter valued at approximately $40,000. Principal Securities Inc. acquired a new stake in shares of EQT in the fourth quarter valued at approximately $51,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of EQT by 52.6% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer's stock worth $60,000 after acquiring an additional 539 shares during the period. Finally, CX Institutional acquired a new position in shares of EQT during the 4th quarter worth approximately $64,000. Institutional investors own 90.81% of the company's stock.

EQT Price Performance

NYSE EQT traded down $0.30 during trading on Monday, hitting $36.68. 4,632,858 shares of the company's stock were exchanged, compared to its average volume of 6,577,632. The stock's 50 day moving average price is $39.87 and its two-hundred day moving average price is $37.65. EQT Co. has a fifty-two week low of $32.07 and a fifty-two week high of $45.23. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The company has a market cap of $16.20 billion, a PE ratio of 26.59 and a beta of 1.12.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. The firm's revenue was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.70 EPS. Research analysts expect that EQT Co. will post 1.05 EPS for the current year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 8th were given a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.72%. EQT's dividend payout ratio is currently 45.65%.

Insider Buying and Selling at EQT

In related news, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the sale, the insider now directly owns 160,884 shares in the company, valued at approximately $6,642,900.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP William E. Jordan sold 35,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was 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 of the company's stock, valued at $18,602,402.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 160,884 shares in the company, valued at $6,642,900.36. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EQT shares. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $37.00 target price (down previously from $39.00) on shares of EQT in a research note on Wednesday, March 20th. Scotiabank boosted their target price on shares of EQT from $52.00 to $54.00 and gave the company a "sector outperform" rating in a research report on Thursday, May 9th. TD Cowen began coverage on shares of EQT in a research report on Friday, April 19th. They set a "hold" rating and a $43.00 price target on the stock. The Goldman Sachs Group cut their price objective on shares of EQT from $48.00 to $43.00 and set a "buy" rating for the company in a report on Tuesday, April 2nd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $46.00 target price (up from $41.00) on shares of EQT in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, EQT presently has an average rating of "Hold" and a consensus price target of $45.24.

EQT Company Profile

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.