NEOS Investment Management LLC Buys 13,201 Shares of EQT Corporation $EQT

NEOS Investment Management LLC grew its position in EQT Corporation (NYSE:EQT) by 14.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,572 shares of the oil and gas producer’s stock after purchasing an additional 13,201 shares during the quarter. NEOS Investment Management LLC’s holdings in EQT were worth $5,454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Caxton Associates LLP acquired a new stake in shares of EQT in the first quarter valued at approximately $256,000. Focus Partners Wealth raised its stake 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 valued at $1,156,000 after acquiring an additional 1,789 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in EQT by 495.2% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock valued at $7,468,000 after acquiring an additional 106,545 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of EQT by 39.4% in the 2nd quarter. Captrust Financial Advisors now owns 30,617 shares of the oil and gas producer’s stock valued at $1,786,000 after purchasing an additional 8,658 shares during the last quarter. Finally, Horizon Investments LLC boosted its position in EQT by 43.6% during the third quarter. Horizon Investments LLC now owns 85,502 shares of the oil and gas producer’s stock valued at $4,640,000 after acquiring an additional 25,971 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Key EQT News

Here are the key news stories impacting EQT this week:

• Positive Sentiment: Analysts at Zacks reportedly increased their earnings estimates for EQT Corporation, a potentially supportive signal for the stock if the revisions reflect improving natural-gas market expectations or company-specific fundamentals. Zacks Research Brokers Boost Earnings Estimates for EQT
• Neutral Sentiment: EQT AB agreed to acquire a majority stake in specialty insurance and reinsurance broker McGill and Partners from Warburg Pincus for approximately $2 billion. McGill’s founder and CEO Steve McGill will continue to lead the business, while existing management and employees will retain significant ownership. Because this is an EQT AB private-equity transaction—not a deal by EQT Corporation—it should not directly affect the NYSE-listed energy producer’s earnings, assets, or valuation. EQT to acquire McGill and Partners
• Neutral Sentiment: Additional coverage of the McGill transaction describes it as part of private equity’s broader expansion into insurance brokerage. The repeated headlines may create ticker-name confusion, but they provide no new catalyst for EQT Corporation. EQT strikes $2bn deal for insurance broker McGill
• Negative Sentiment: A separate report says EQT is considering a fund-to-fund transfer involving AIG Hospitals, another EQT AB portfolio company. This is also unrelated to EQT Corporation and is unlikely to explain movement in EQT shares. EQT planning fund-to-fund transfer for AIG Hospitals

EQT Stock Performance

EQT stock opened at $55.11 on Monday. The firm has a market cap of $34.47 billion, a PE ratio of 12.79 and a beta of 0.58. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $52.67 and a 200-day moving average of $56.33. EQT Corporation has a 12-month low of $47.94 and a 12-month high of $68.24.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). EQT had a return on equity of 9.31% and a net margin of 28.44%.The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the business posted $0.45 earnings per share. The business’s revenue was down 29.2% compared to the same quarter last year. As a group, sell-side analysts expect that EQT Corporation will post 3.96 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, August 5th. EQT’s payout ratio is presently 15.31%.

Insider Activity at EQT

In related news, CEO Toby Rice sold 175,328 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the sale, the chief executive officer owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. This trade represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, June 23rd. UBS Group dropped their target price on shares of EQT from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Wall Street Zen cut EQT from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Citigroup decreased their price target on shares of EQT from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. Finally, Morgan Stanley lowered their price objective on shares of EQT from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.10.

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.