BI Asset Management Fondsmaeglerselskab A S Sells 15,163 Shares of EQT Corporation $EQT

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of EQT Corporation (NYSE:EQT) by 35.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,598 shares of the oil and gas producer’s stock after selling 15,163 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in EQT were worth $1,756,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Greykasell Wealth Strategies Inc. bought a new stake in shares of EQT during the 4th quarter worth approximately $26,000. Aventura Private Wealth LLC acquired a new stake in shares of EQT in the 4th quarter valued at approximately $31,000. Fortitude Family Office LLC grew its stake in shares of EQT by 95.6% in the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 280 shares in the last quarter. Elyxium Wealth LLC bought a new position in shares of EQT in the fourth quarter valued at $49,000. Finally, Sound Income Strategies LLC increased its holdings in EQT by 186.4% during the fourth 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 during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Toby Z. Rice sold 96,983 shares of EQT stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $54.28, for a total value of $5,264,237.24. Following the transaction, the chief executive officer directly owned 2,334,924 shares of the company’s stock, valued at $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 SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky A. Bailey sold 4,116 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $59.80, for a total transaction of $246,136.80. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 102,830 shares of company stock worth $5,602,913. Insiders own 0.72% of the company’s stock.

EQT Stock Down 0.2%

NYSE EQT opened at $51.56 on Thursday. 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 company has a market cap of $32.25 billion, a price-to-earnings ratio of 9.78 and a beta of 0.55. The company has a 50 day moving average of $55.65 and a 200-day moving average of $57.08. EQT Corporation has a 1-year low of $48.47 and a 1-year high of $68.24.

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

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Wednesday, May 6th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, May 6th. EQT’s dividend payout ratio (DPR) is currently 12.52%.

Wall Street Analyst Weigh In

A number of analysts have commented on EQT shares. Roth Mkm reiterated a “neutral” rating on shares of EQT in a research note on Tuesday, April 14th. Piper Sandler lifted their price target on EQT from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Morgan Stanley upped their price objective on EQT from $69.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, March 27th. The Goldman Sachs Group dropped their price objective on EQT from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Finally, Barclays raised their price objective on EQT from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and a consensus target price of $68.29.

EQT 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.