SteelPeak Wealth LLC Sells 6,766 Shares of EQT Co. (NYSE:EQT)

SteelPeak Wealth LLC reduced its holdings in shares of EQT Co. (NYSE:EQT) by 11.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,761 shares of the oil and gas producer’s stock after selling 6,766 shares during the quarter. SteelPeak Wealth LLC’s holdings in EQT were worth $1,877,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EQT. Private Wealth Management Group LLC purchased a new position in EQT in the fourth quarter worth $30,000. Wolff Wiese Magana LLC grew its position in shares of EQT by 936.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 908 shares in the last quarter. Principal Securities Inc. purchased a new position in EQT during the fourth quarter worth about $51,000. EntryPoint Capital LLC bought a new position in shares of EQT in the first quarter worth approximately $54,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of EQT by 40.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,498 shares of the oil and gas producer’s stock worth $55,000 after buying an additional 434 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EQT. Wolfe Research assumed coverage on EQT in a report on Thursday, July 18th. They set an “outperform” rating and a $51.00 price objective on the stock. Truist Financial decreased their target price on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Jefferies Financial Group boosted their price objective on shares of EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Mizuho boosted their target price on EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Finally, Morgan Stanley upped their target price on shares of EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.17.

Insider Transactions at EQT

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

EQT Stock Performance

NYSE:EQT traded up $0.32 during mid-day trading on Thursday, hitting $31.80. 7,318,971 shares of the company traded hands, compared to its average volume of 7,240,196. The stock’s fifty day moving average price is $36.03 and its 200-day moving average price is $36.91. The firm has a market cap of $14.04 billion, a price-to-earnings ratio of 22.91 and a beta of 1.12. EQT Co. has a one year low of $30.02 and a one year high of $45.23. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $952.51 million during the quarter, compared to analyst estimates of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. EQT’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.17) EPS. Research analysts anticipate that EQT Co. will post 1.4 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.63 annualized dividend and a yield of 1.98%. EQT’s payout ratio is 45.65%.

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.