PNC Financial Services Group Inc. Buys 1,428 Shares of EQT Co. (NYSE:EQT)

PNC Financial Services Group Inc. boosted its stake in shares of EQT Co. (NYSE:EQT) by 1.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 137,313 shares of the oil and gas producer’s stock after purchasing an additional 1,428 shares during the quarter. PNC Financial Services Group Inc.’s holdings in EQT were worth $5,309,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. SCP Investment LP purchased a new stake in EQT in the fourth quarter valued at about $681,000. Vanguard Group Inc. raised its stake in EQT by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 46,922,862 shares of the oil and gas producer’s stock valued at $1,814,038,000 after buying an additional 2,023,222 shares during the last quarter. Wellington Management Group LLP raised its stake in EQT by 3.2% in the fourth quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock valued at $785,580,000 after buying an additional 632,625 shares during the last quarter. American International Group Inc. raised its stake in EQT by 9.3% in the fourth quarter. American International Group Inc. now owns 107,443 shares of the oil and gas producer’s stock valued at $4,154,000 after buying an additional 9,157 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in EQT in the fourth quarter valued at about $723,000. Institutional investors own 90.81% of the company’s stock.

EQT Stock Down 0.9 %

Shares of EQT opened at $38.23 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. EQT Co. has a 12 month low of $32.07 and a 12 month high of $45.23. The stock’s 50 day moving average is $39.71 and its two-hundred day moving average is $37.62. The firm has a market cap of $16.88 billion, a P/E ratio of 27.70 and a beta of 1.06.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company earned $1.70 earnings per share. EQT’s quarterly revenue was down 28.8% compared to the same quarter last year. Analysts predict that EQT Co. will post 1.03 earnings per share for the current fiscal year.

EQT Dividend Announcement

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. This represents a $0.63 annualized dividend and a yield of 1.65%. The ex-dividend date was Tuesday, May 7th. EQT’s payout ratio is currently 45.65%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EQT shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $37.00 price objective (down from $39.00) on shares of EQT in a research note on Wednesday, March 20th. StockNews.com upgraded EQT to a “sell” rating in a research note on Wednesday, May 29th. BMO Capital Markets raised their price objective on EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. The Goldman Sachs Group reduced their price objective on EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Finally, Piper Sandler restated an “overweight” rating and issued a $46.00 price objective (up from $41.00) on shares of EQT in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.24.

Insider Buying and Selling at EQT

In other EQT news, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the sale, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the sale, the insider now directly owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction that occurred on Wednesday, May 29th. The stock was 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 directly owns 456,837 shares in the company, valued at $18,602,402.64. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

EQT Company 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.