PGGM Investments cut its stake in shares of EQT Corporation (NYSE:EQT) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,173 shares of the oil and gas producer’s stock after selling 3,601 shares during the period. PGGM Investments owned 0.06% of EQT Corporation worth $6,045,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in EQT. BlackRock Inc. increased its stake in EQT Corporation by 3,346.4% in the first quarter. BlackRock Inc. now owns 13,626,409 shares of the oil and gas producer’s stock worth $832,575,000 after buying an additional 13,231,032 shares during the last quarter. OZ Management LP bought a new stake in EQT Corporation during the first quarter worth $281,711,000. State Street Corp increased its stake in EQT Corporation by 13.6% in the first quarter. State Street Corp now owns 10,635,812 shares of the oil and gas producer’s stock worth $649,846,000 after buying an additional 1,270,294 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in EQT Corporation during the first quarter worth $70,942,000. Finally, American Century Companies Inc. increased its stake in EQT Corporation by 9.1% in the first quarter. American Century Companies Inc. now owns 9,035,038 shares of the oil and gas producer’s stock valued at $552,041,000 after buying an additional 756,782 shares in the last quarter. 90.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EQT Corporation (NYSE EQT) opened at 60.25 on Friday. EQT Corporation has a 1-year low of $49.63 and a 1-year high of $75.74. The stock has a 50 day moving average of $61.97 and a 200 day moving average of $59.78. The company has a market cap of $10.44 billion, a price-to-earnings ratio of 2151.79 and a beta of 0.77.
EQT Corporation (NYSE:EQT) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $631.10 million during the quarter, compared to the consensus estimate of $642.21 million. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. The firm’s quarterly revenue was up 720.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.35) earnings per share. Analysts predict that EQT Corporation will post $1.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be issued a $0.03 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $0.12 dividend on an annualized basis and a yield of 0.20%. EQT Corporation’s dividend payout ratio (DPR) is 400.13%.
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Several equities research analysts recently commented on EQT shares. Scotiabank set a $82.00 target price on shares of EQT Corporation and gave the stock a “hold” rating in a research report on Saturday, April 22nd. Royal Bank Of Canada set a $86.00 target price on shares of EQT Corporation and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Jefferies Group LLC set a $66.00 target price on shares of EQT Corporation and gave the stock a “hold” rating in a research report on Monday, May 1st. Stifel Nicolaus reiterated a “buy” rating and set a $81.00 target price (up from $63.00) on shares of EQT Corporation in a research report on Tuesday, May 2nd. Finally, ValuEngine downgraded shares of EQT Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $79.92.
In other news, insider David E. Jr. Schlosser acquired 10,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was acquired at an average price of $50.96 per share, for a total transaction of $509,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director A. Bray Jr. Cary acquired 28,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was purchased at an average price of $53.55 per share, with a total value of $1,499,400.00. Following the acquisition, the director now owns 22,627 shares of the company’s stock, valued at approximately $1,211,675.85. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 41,901 shares of company stock valued at $2,211,775. 1.00% of the stock is owned by corporate insiders.
About EQT Corporation
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
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