Capital Fund Management S.A. acquired a new stake in shares of EQT Corp. (NYSE:EQT) during the second quarter, Holdings Channel reports. The fund acquired 91,906 shares of the company’s stock, valued at approximately $7,116,000.
Several other institutional investors also recently made changes to their positions in EQT. Artemis Investment Management LLP bought a new position in shares of EQT Corp. during the second quarter valued at $16,265,000. Retirement Systems of Alabama boosted its position in shares of EQT Corp. by 4.6% in the second quarter. Retirement Systems of Alabama now owns 88,063 shares of the company’s stock valued at $6,819,000 after buying an additional 3,905 shares during the last quarter. Sippican Capital Advisors boosted its position in shares of EQT Corp. by 104.5% in the second quarter. Sippican Capital Advisors now owns 8,648 shares of the company’s stock valued at $670,000 after buying an additional 4,420 shares during the last quarter. Conning Inc. boosted its position in shares of EQT Corp. by 3.7% in the second quarter. Conning Inc. now owns 4,727 shares of the company’s stock valued at $366,000 after buying an additional 170 shares during the last quarter. Finally, Strs Ohio boosted its position in shares of EQT Corp. by 4.7% in the second quarter. Strs Ohio now owns 15,811 shares of the company’s stock valued at $1,224,000 after buying an additional 705 shares during the last quarter. Institutional investors own 87.73% of the company’s stock.
Shares of EQT Corp. (NYSE:EQT) traded up 4.41% on Friday, reaching $72.62. 1,893,595 shares of the company’s stock traded hands. The firm’s market cap is $12.54 billion. The company’s 50-day moving average price is $71.58 and its 200 day moving average price is $71.42. EQT Corp. has a one year low of $47.10 and a one year high of $80.61.
EQT Corp. (NYSE:EQT) last released its earnings results on Thursday, July 28th. The company reported ($0.35) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.06. EQT Corp. had a negative net margin of 18.74% and a negative return on equity of 1.27%. The firm earned $127.53 million during the quarter, compared to the consensus estimate of $461.53 million. During the same period in the prior year, the firm earned ($0.06) EPS. The company’s revenue was down 71.0% compared to the same quarter last year. On average, equities analysts forecast that EQT Corp. will post ($0.62) EPS for the current fiscal year.
The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Wednesday, August 10th. EQT Corp.’s dividend payout ratio is currently -5.66%.
Several equities analysts have recently weighed in on the company. GMP Securities assumed coverage on EQT Corp. in a report on Wednesday. They issued a “buy” rating and a $92.00 price objective for the company. Stifel Nicolaus upgraded EQT Corp. from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Friday, August 26th. Scotiabank cut EQT Corp. from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $91.00 to $90.00 in a report on Thursday, August 11th. Howard Weil cut EQT Corp. from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $91.00 to $90.00 in a report on Thursday, August 11th. Finally, Zacks Investment Research cut EQT Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. EQT Corp. has an average rating of “Hold” and a consensus target price of C$78.78.
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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