Artemis Investment Management LLP purchased a new position in shares of EQT Corp. (NYSE:EQT) during the second quarter, Holdings Channel reports. The institutional investor purchased 210,079 shares of the company’s stock, valued at approximately $16,265,000.
Several other large investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of EQT Corp. during the fourth quarter worth about $60,141,000. State Street Corp boosted its position in shares of EQT Corp. by 10.0% in the first quarter. State Street Corp now owns 8,314,010 shares of the company’s stock worth $559,202,000 after buying an additional 756,362 shares during the period. Cannell Peter B & Co Inc boosted its position in shares of EQT Corp. by 59.5% in the first quarter. Cannell Peter B & Co Inc now owns 954,940 shares of the company’s stock worth $64,229,000 after buying an additional 356,215 shares during the period. NWQ Investment Management Company LLC boosted its position in shares of EQT Corp. by 23.5% in the first quarter. NWQ Investment Management Company LLC now owns 1,718,388 shares of the company’s stock worth $115,579,000 after buying an additional 327,196 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of EQT Corp. by 26.2% in the first quarter. Geode Capital Management LLC now owns 1,534,925 shares of the company’s stock worth $103,064,000 after buying an additional 318,450 shares during the period. Institutional investors own 87.73% of the company’s stock.
EQT Corp. (NYSE:EQT) traded down 5.56% during trading on Tuesday, reaching $68.64. 4,027,996 shares of the company traded hands. 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 price is $71.38 and its 200 day moving average price is $71.36. The firm’s market capitalization is $11.86 billion.
EQT Corp. (NYSE:EQT) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.06. The firm had revenue of $127.53 million for the quarter, compared to analysts’ expectations of $461.53 million. EQT Corp. had a negative net margin of 18.74% and a negative return on equity of 1.27%. The business’s quarterly revenue was down 71.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.06) EPS. Equities research analysts expect that EQT Corp. will post ($0.63) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.17%. The ex-dividend date was Wednesday, August 10th. EQT Corp.’s dividend payout ratio (DPR) is currently -5.66%.
EQT has been the topic of a number of recent analyst reports. Deutsche Bank AG cut shares of EQT Corp. from a “buy” rating to a “hold” rating and decreased their price objective for the company from $81.00 to $79.00 in a research note on Monday, June 13th. Zacks Investment Research raised shares of EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research note on Tuesday, July 5th. Howard Weil decreased their price objective on shares of EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 29th. Barclays PLC lifted their price objective on shares of EQT Corp. from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. Finally, Citigroup Inc. lifted their price objective on shares of EQT Corp. from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of C$78.67.
In other news, SVP Randall L. Crawford sold 4,981 shares of the firm’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of C$77.21, for a total transaction of C$384,583.01. Following the sale, the senior vice president now owns 90,723 shares in the company, valued at approximately C$7,004,722.83. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.
About EQT Corp.
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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