Advisors Asset Management Inc. increased its stake in EQT Co. (NYSE:EQT) by 17.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,906 shares of the oil and gas producer’s stock after purchasing an additional 3,287 shares during the quarter. Advisors Asset Management Inc.’s holdings in EQT were worth $1,209,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of EQT. LPL Financial LLC increased its stake in EQT by 179.5% in the 1st quarter. LPL Financial LLC now owns 27,891 shares of the oil and gas producer’s stock worth $1,325,000 after buying an additional 17,911 shares in the last quarter. CIBC World Markets Inc. purchased a new stake in EQT in the 1st quarter worth $374,000. Principal Financial Group Inc. increased its stake in EQT by 1.3% in the 1st quarter. Principal Financial Group Inc. now owns 377,039 shares of the oil and gas producer’s stock worth $17,913,000 after buying an additional 4,754 shares in the last quarter. Suntrust Banks Inc. increased its stake in EQT by 11.2% in the 1st quarter. Suntrust Banks Inc. now owns 15,935 shares of the oil and gas producer’s stock worth $755,000 after buying an additional 1,599 shares in the last quarter. Finally, DnB Asset Management AS increased its stake in EQT by 5.0% in the 2nd quarter. DnB Asset Management AS now owns 31,755 shares of the oil and gas producer’s stock worth $1,752,000 after buying an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 91.66% of the company’s stock.
EQT has been the subject of a number of analyst reports. TD Securities initiated coverage on EQT in a research note on Thursday, July 5th. They issued a “hold” rating and a $57.00 price target for the company. Morgan Stanley cut their price target on EQT from $64.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, July 12th. Royal Bank of Canada set a $74.00 price target on EQT and gave the stock a “buy” rating in a research note on Thursday, July 19th. TheStreet upgraded EQT from a “d+” rating to a “c-” rating in a research note on Monday, July 23rd. Finally, LADENBURG THALM/SH SH set a $70.00 price target on EQT and gave the stock a “buy” rating in a research note on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $57.77.
Shares of EQT stock opened at $34.88 on Friday. The stock has a market cap of $8.36 billion, a PE ratio of 23.73, a PEG ratio of 0.92 and a beta of 0.60. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.48. EQT Co. has a twelve month low of $30.53 and a twelve month high of $66.03.
EQT (NYSE:EQT) last issued its quarterly earnings data on Thursday, October 25th. The oil and gas producer reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.11 billion. EQT had a positive return on equity of 3.77% and a negative net margin of 6.86%. During the same quarter last year, the business posted $0.12 earnings per share. Analysts anticipate that EQT Co. will post 2.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Friday, November 9th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, November 8th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.34%. EQT’s payout ratio is 8.16%.
In other news, Director Kenneth Michael Burke acquired 5,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The stock was purchased at an average price of $50.20 per share, for a total transaction of $251,000.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $251,000. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert Joseph Mcnally acquired 15,800 shares of the business’s stock in a transaction dated Wednesday, October 31st. The shares were purchased at an average price of $34.16 per share, with a total value of $539,728.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 21,280 shares of company stock valued at $811,958. Company insiders own 0.68% of the company’s stock.
EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.
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