Brasada Capital Management LP Buys 77,350 Shares of EQT Corporation $EQT

Brasada Capital Management LP grew its stake in shares of EQT Corporation (NYSE:EQT) by 966.9% during the second quarter, Holdings Channel reports. The institutional investor owned 85,350 shares of the oil and gas producer’s stock after buying an additional 77,350 shares during the period. Brasada Capital Management LP’s holdings in EQT were worth $4,538,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Greykasell Wealth Strategies Inc. purchased a new stake in EQT in the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. bought a new stake in EQT during the 2nd quarter worth approximately $26,000. Wedbush Fund Advisers LLC lifted its holdings in EQT by 251.8% during the second quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 413 shares in the last quarter. Gables Capital Management Inc. purchased a new position in EQT during the second quarter valued at approximately $37,000. Finally, Elyxium Wealth LLC bought a new position in shares of EQT in the fourth quarter worth approximately $49,000. 90.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BMO Capital Markets reduced their price objective on shares of EQT from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Zacks Research cut shares of EQT from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of EQT in a report on Thursday, July 30th. Weiss Ratings lowered EQT from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Finally, Stephens raised their price target on EQT from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and an average target price of $68.10.

EQT Trading Up 0.1%

Shares of EQT opened at $54.85 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67. EQT Corporation has a 1 year low of $47.94 and a 1 year high of $68.24. The company has a 50 day simple moving average of $52.25 and a two-hundred day simple moving average of $56.42. The firm has a market cap of $34.31 billion, a P/E ratio of 12.73 and a beta of 0.58.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). EQT had a net margin of 28.44% and a return on equity of 9.31%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the business earned $0.45 EPS. The company’s quarterly revenue was down 29.2% on a year-over-year basis. On average, equities analysts expect that EQT Corporation will post 3.97 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, August 5th. EQT’s payout ratio is currently 15.31%.

Insider Transactions at EQT

In other EQT news, CEO Toby Z. Rice sold 175,328 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.03, for a total value of $9,648,299.84. Following the sale, the chief executive officer owned 2,157,865 shares in the company, valued at $118,747,310.95. The trade was a 7.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 274,042 shares of company stock valued at $15,005,076. Insiders own 0.72% of the company’s stock.

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.