Brown Advisory Inc. increased its stake in EQT Corp. (NYSE:EQT) by 23.7% during the second quarter, Holdings Channel reports. The firm owned 18,884 shares of the company’s stock after buying an additional 3,623 shares during the period. Brown Advisory Inc.’s holdings in EQT Corp. were worth $1,462,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. IFP Advisors Inc raised its stake in shares of EQT Corp. by 2.1% in the first quarter. IFP Advisors Inc now owns 2,860 shares of the company’s stock valued at $192,000 after buying an additional 60 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of EQT Corp. by 3.4% in the first quarter. Canada Pension Plan Investment Board now owns 3,014 shares of the company’s stock valued at $203,000 after buying an additional 100 shares during the period. Boston Family Office LLC bought a new stake in shares of EQT Corp. during the second quarter valued at approximately $205,000. Everence Capital Management Inc. bought a new stake in shares of EQT Corp. during the second quarter valued at approximately $217,000. Finally, Eqis Capital Management Inc. bought a new stake in shares of EQT Corp. during the second quarter valued at approximately $222,000. Institutional investors and hedge funds own 87.73% of the company’s stock.
Shares of EQT Corp. (NYSE:EQT) traded down 0.22% during midday trading on Monday, hitting $73.50. 182,556 shares of the stock were exchanged. EQT Corp. has a 12 month low of $47.10 and a 12 month high of $80.61. The firm’s 50-day moving average is $71.33 and its 200-day moving average is $71.02. The stock’s market cap is $12.70 billion.
EQT Corp. (NYSE:EQT) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.06. EQT Corp. had a negative return on equity of 1.27% and a negative net margin of 18.74%. The business had revenue of $127.53 million for the quarter, compared to analyst estimates of $461.53 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. The firm’s revenue for the quarter was down 71.0% compared to the same quarter last year. Equities research analysts predict that EQT Corp. will post ($0.63) earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Wednesday, August 10th. EQT Corp.’s dividend payout ratio (DPR) is presently -5.66%.
EQT has been the subject of several recent research reports. KLR Group reiterated a “buy” rating and set a $95.00 target price (down from $100.00) on shares of EQT Corp. in a report on Monday, August 1st. Zacks Investment Research upgraded shares of EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Tuesday, July 5th. Stifel Nicolaus upgraded shares of EQT Corp. from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a report on Friday, August 26th. Deutsche Bank AG lowered shares of EQT Corp. from a “buy” rating to a “hold” rating and lowered their target price for the company from $81.00 to $79.00 in a report on Monday, June 13th. Finally, Jefferies Group lifted their target price on shares of EQT Corp. from $74.00 to $77.00 and gave the company a “hold” rating in a report on Friday, July 29th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. EQT Corp. has an average rating of “Hold” and an average target price of C$78.67.
In other EQT Corp. news, SVP Randall L. Crawford sold 4,981 shares of the stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of C$77.21, for a total value of C$384,583.01. Following the transaction, the senior vice president now owns 90,723 shares of the company’s stock, valued at C$7,004,722.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.
EQT Corp. Company Profile
EQT Corporation (EQT) is an energy company. The Company operates through two business segments: EQT Production and EQT Midstream. EQT Production is a natural gas producer in the Appalachian Basin with over 10 trillion cubic feet equivalent (Tcfe) of natural gas, natural gas liquid (NGL) and crude oil reserves across approximately 3.4 million acres, including approximately 630,000 gross acres in the Marcellus play.
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