Usca Ria LLC boosted its stake in EQT Co. (NYSE:EQT) by 9.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,518 shares of the oil and gas producer’s stock after purchasing an additional 3,621 shares during the quarter. Usca Ria LLC’s holdings in EQT were worth $1,836,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of EQT. Iridian Asset Management LLC CT acquired a new position in EQT in the second quarter valued at about $195,704,000. Sound Shore Management Inc. CT acquired a new position in EQT during the second quarter worth about $177,755,000. Scopia Capital Management LP acquired a new position in EQT during the second quarter worth about $102,772,000. Nomura Holdings Inc. raised its stake in EQT by 182,853.9% during the second quarter. Nomura Holdings Inc. now owns 1,535,133 shares of the oil and gas producer’s stock worth $84,708,000 after acquiring an additional 1,535,973 shares in the last quarter. Finally, Boston Partners raised its stake in EQT by 6.8% during the second quarter. Boston Partners now owns 12,929,303 shares of the oil and gas producer’s stock worth $713,439,000 after acquiring an additional 825,730 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.
In related news, insider Robert Joseph Mcnally bought 15,800 shares of EQT stock in a transaction that occurred on Wednesday, October 31st. The shares were acquired at an average cost of $34.16 per share, for a total transaction of $539,728.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth Michael Burke bought 5,000 shares of EQT stock in a transaction that occurred on Thursday, August 9th. The stock was bought at an average price of $50.20 per share, for a total transaction of $251,000.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $251,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 47,609 shares of company stock worth $1,698,612. Company insiders own 0.68% of the company’s stock.
Several research analysts have commented on the company. Wells Fargo & Co reissued a “market weight” rating and set a $63.00 target price on shares of EQT in a research note on Wednesday, October 24th. Royal Bank of Canada set a $74.00 target price on EQT and gave the stock a “buy” rating in a research note on Thursday, July 19th. BMO Capital Markets downgraded EQT from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $55.00 to $40.00 in a research note on Friday, October 26th. Credit Suisse Group set a $48.00 target price on EQT and gave the stock a “buy” rating in a research note on Friday, October 26th. Finally, Morgan Stanley lowered their target price 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $57.77.
NYSE:EQT opened at $34.08 on Wednesday. The stock has a market cap of $8.30 billion, a PE ratio of 23.18, a PEG ratio of 0.93 and a beta of 0.91. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.48. EQT Co. has a 1-year low of $30.53 and a 1-year high of $66.03.
EQT (NYSE:EQT) last released its quarterly earnings results on Thursday, October 25th. The oil and gas producer reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the business posted $0.12 earnings per share. As a group, sell-side analysts anticipate that EQT Co. will post 2.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Wednesday, November 21st will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Tuesday, November 20th. EQT’s dividend payout ratio (DPR) is currently 8.16%.
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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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