Founders Financial Securities LLC Acquires 690 Shares of EQT Co. (NYSE:EQT)

Founders Financial Securities LLC increased its holdings in EQT Co. (NYSE:EQT) by 9.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,204 shares of the oil and gas producer’s stock after buying an additional 690 shares during the period. Founders Financial Securities LLC’s holdings in EQT were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Private Wealth Management Group LLC acquired a new position in shares of EQT during the fourth quarter worth $30,000. BKM Wealth Management LLC acquired a new position in shares of EQT during the fourth quarter worth $40,000. Principal Securities Inc. acquired a new position in shares of EQT during the fourth quarter worth $51,000. Massmutual Trust Co. FSB ADV increased its position in shares of EQT by 52.6% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer’s stock worth $60,000 after purchasing an additional 539 shares in the last quarter. Finally, CX Institutional acquired a new position in shares of EQT during the fourth quarter worth $64,000. Institutional investors own 90.81% of the company’s stock.

EQT Trading Down 0.8 %

EQT stock opened at $36.98 on Monday. The firm has a market cap of $16.33 billion, a P/E ratio of 26.80 and a beta of 1.06. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. EQT Co. has a 52-week low of $32.07 and a 52-week high of $45.23. The company’s 50-day simple moving average is $39.87 and its 200-day simple moving average is $37.65.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The company 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%. EQT’s quarterly revenue was down 28.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.70 EPS. As a group, equities analysts forecast that EQT Co. will post 1.05 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th were issued a $0.1575 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.70%. EQT’s payout ratio is 45.65%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EQT. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $37.00 price target (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Piper Sandler reissued an “overweight” rating and set a $46.00 price objective (up from $41.00) on shares of EQT in a report on Tuesday, April 30th. StockNews.com raised shares of EQT to a “sell” rating in a report on Wednesday, May 29th. Sanford C. Bernstein raised shares of EQT from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $27.00 to $34.00 in a report on Wednesday, April 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price objective on shares of EQT in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, EQT has an average rating of “Hold” and an average price target of $45.24.

Insider Activity

In other news, EVP William E. Jordan sold 35,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP William E. Jordan sold 35,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lesley Evancho sold 46,884 shares of the 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 completion of the sale, the insider now directly owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.

EQT 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.