EQT Corporation $EQT Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of EQT Corporation (NYSE:EQT) by 64.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,761 shares of the oil and gas producer’s stock after selling 77,847 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in EQT were worth $2,292,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC acquired a new stake in EQT during the 4th quarter worth approximately $31,000. Fortitude Family Office LLC lifted its holdings in EQT by 95.6% during the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 280 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in EQT during the 4th quarter worth approximately $49,000. Sound Income Strategies LLC lifted its holdings in EQT by 186.4% during the 4th quarter. Sound Income Strategies LLC now owns 1,266 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 824 shares in the last quarter. Finally, City Holding Co. lifted its holdings in EQT by 1,708.5% during the 4th quarter. City Holding Co. now owns 1,483 shares of the oil and gas producer’s stock worth $79,000 after buying an additional 1,401 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other EQT news, EVP Sarah Fenton sold 4,876 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $64.49, for a total transaction of $314,453.24. Following the transaction, the executive vice president directly owned 52,953 shares of the company’s stock, valued at approximately $3,414,938.97. This trade represents a 8.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Vicky A. Bailey sold 4,116 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $59.80, for a total transaction of $246,136.80. The disclosure for this sale is available in the SEC filing. Company insiders own 0.72% of the company’s stock.

EQT Price Performance

Shares of EQT opened at $53.03 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.19. The firm’s fifty day simple moving average is $57.94 and its 200-day simple moving average is $57.70. The firm has a market capitalization of $33.17 billion, a price-to-earnings ratio of 10.06 and a beta of 0.55. EQT Corporation has a twelve month low of $48.47 and a twelve month high of $68.24.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.32. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.14 billion. EQT had a net margin of 31.94% and a return on equity of 9.74%. During the same period last year, the firm posted $1.18 EPS. Equities analysts forecast that EQT Corporation will post 4.7 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 6th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, May 6th. EQT’s dividend payout ratio (DPR) is 12.52%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EQT. Weiss Ratings upgraded shares of EQT from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. TD Cowen increased their target price on shares of EQT from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Citigroup increased their target price on shares of EQT from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. increased their target price on shares of EQT from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, March 17th. Finally, Stephens reduced their target price on shares of EQT from $78.00 to $73.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and a consensus price target of $68.83.

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.