Duff & Phelps Investment Management Co. Invests $522,000 in EQT Corporation $EQT

Duff & Phelps Investment Management Co. bought a new position in shares of EQT Corporation (NYSE:EQT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,592 shares of the oil and gas producer’s stock, valued at approximately $522,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caxton Associates LLP purchased a new stake in EQT during the 1st quarter valued at approximately $256,000. Focus Partners Wealth boosted its position in shares of EQT by 9.0% during the first quarter. Focus Partners Wealth now owns 21,637 shares of the oil and gas producer’s stock worth $1,156,000 after acquiring an additional 1,789 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of EQT by 0.3% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 246,947 shares of the oil and gas producer’s stock worth $14,402,000 after acquiring an additional 856 shares during the last quarter. SG Americas Securities LLC grew its stake in EQT by 1,286.2% during the second quarter. SG Americas Securities LLC now owns 735,936 shares of the oil and gas producer’s stock valued at $42,920,000 after acquiring an additional 682,844 shares in the last quarter. Finally, Rothschild Investment LLC grew its stake in EQT by 1.0% during the second quarter. Rothschild Investment LLC now owns 46,436 shares of the oil and gas producer’s stock valued at $2,708,000 after acquiring an additional 463 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Insider Activity

In related news, insider Lesley Evancho sold 20,000 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $60.69, for a total transaction of $1,213,800.00. Following the sale, the insider owned 184,607 shares in the company, valued at approximately $11,203,798.83. This represents a 9.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Sarah Fenton sold 3,768 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $60.37, for a total value of $227,474.16. Following the completion of the sale, the executive vice president owned 52,806 shares of the company’s stock, valued at approximately $3,187,898.22. This represents a 6.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 56,282 shares of company stock valued at $3,428,530. 0.72% of the stock is currently owned by insiders.

EQT Stock Up 1.3%

Shares of NYSE:EQT opened at $64.68 on Friday. The company has a market cap of $40.42 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 0.42 and a beta of 0.72. EQT Corporation has a 12 month low of $43.57 and a 12 month high of $65.32. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $56.72 and a 200 day moving average price of $55.49.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.14. EQT had a return on equity of 7.25% and a net margin of 23.59%.The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, equities research analysts predict that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.66 annualized dividend and a dividend yield of 1.0%. EQT’s payout ratio is currently 19.94%.

Wall Street Analyst Weigh In

Several brokerages have commented on EQT. Weiss Ratings reiterated a “buy (b-)” rating on shares of EQT in a research note on Monday, December 29th. Jefferies Financial Group reaffirmed a “buy” rating on shares of EQT in a report on Sunday, January 18th. Mizuho boosted their target price on EQT from $60.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. TD Securities raised EQT to a “strong-buy” rating in a research note on Friday, February 20th. Finally, Citigroup cut their price target on EQT from $63.00 to $62.00 and set a “buy” rating for the company in a report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.09.

About EQT

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.