Fifth Third Wealth Advisors LLC Has $2.43 Million Stock Position in EQT Corporation $EQT

Fifth Third Wealth Advisors LLC lifted its stake in shares of EQT Corporation (NYSE:EQT) by 36.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,173 shares of the oil and gas producer’s stock after purchasing an additional 10,256 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in EQT were worth $2,429,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Greykasell Wealth Strategies Inc. bought a new stake in EQT during the fourth quarter worth $26,000. Aventura Private Wealth LLC acquired a new stake in EQT in the 4th quarter valued at about $31,000. Fortitude Family Office LLC grew its holdings in EQT by 95.6% during the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 280 shares during the period. Elyxium Wealth LLC bought a new position in EQT during the fourth quarter worth about $49,000. Finally, Sound Income Strategies LLC increased its position 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. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Price Performance

NYSE:EQT opened at $51.53 on Friday. EQT Corporation has a 52 week low of $48.47 and a 52 week high of $68.24. The firm has a market cap of $32.23 billion, a price-to-earnings ratio of 9.78 and a beta of 0.55. The firm’s 50-day simple moving average is $55.55 and its 200 day simple moving average is $57.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.66 and a current ratio of 0.66.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.32. EQT had a net margin of 31.94% and a return on equity of 9.74%. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the firm posted $1.18 EPS. As a group, sell-side analysts predict that EQT Corporation will post 4.7 earnings per share for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 6th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Wednesday, May 6th. EQT’s payout ratio is 12.52%.

Insider Activity at EQT

In other EQT news, CEO Toby Z. Rice sold 1,731 shares of EQT stock in a transaction on Monday, June 8th. The stock was sold at an average price of $53.46, for a total value of $92,539.26. Following the completion of the transaction, the chief executive officer directly owned 2,333,193 shares of the company’s stock, valued at $124,732,497.78. The trade was a 0.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky A. Bailey sold 4,116 shares of EQT stock in a transaction on Monday, April 27th. The shares were sold at an average price of $59.80, for a total value of $246,136.80. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 102,830 shares of company stock valued at $5,602,913. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

EQT has been the topic of several research analyst reports. Barclays upped their price objective on EQT from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Jefferies Financial Group restated a “buy” rating on shares of EQT in a research note on Sunday, April 26th. Zacks Research cut shares of EQT from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Truist Financial decreased their price objective on shares of EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Evercore increased their price objective on shares of EQT from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, EQT currently has an average rating of “Moderate Buy” and an average target price of $68.29.

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.