PGGM Investments reduced its stake in EQT Corp. (NYSE:EQT) by 62.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 116,791 shares of the company’s stock after selling 194,211 shares during the period. PGGM Investments owned 0.07% of EQT Corp. worth $9,043,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc boosted its position 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. Eqis Capital Management Inc. purchased a new position in shares of EQT Corp. during the second quarter valued at approximately $222,000. Fox Run Management L.L.C. purchased a new position in shares of EQT Corp. during the second quarter valued at approximately $232,000. Canada Pension Plan Investment Board boosted its position 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. Finally, Fisher Asset Management LLC boosted its position in shares of EQT Corp. by 0.3% in the second quarter. Fisher Asset Management LLC now owns 3,258 shares of the company’s stock valued at $251,000 after buying an additional 10 shares during the period. 87.73% of the stock is owned by hedge funds and other institutional investors.
Shares of EQT Corp. (NYSE:EQT) traded up 4.41% during trading on Friday, reaching $72.62. The company’s stock had a trading volume of 1,893,595 shares. 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 12 month low of $47.10 and a 12 month 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 analysts’ consensus estimates of ($0.41) by $0.06. The firm earned $127.53 million during the quarter, compared to the consensus estimate of $461.53 million. EQT Corp. had a negative return on equity of 1.27% and a negative net margin of 18.74%. The company’s revenue was down 71.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) EPS. On average, equities analysts predict that EQT Corp. will post ($0.62) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, August 10th. This represents a $0.12 annualized dividend and a dividend yield of 0.17%. EQT Corp.’s dividend payout ratio is currently -5.66%.
Several research analysts recently commented on the company. KLR Group reaffirmed a “buy” rating and issued a $95.00 target price (down from $100.00) on shares of EQT Corp. in a research report on Monday, August 1st. GMP Securities assumed coverage on EQT Corp. in a research report on Wednesday. They issued a “buy” rating and a $92.00 target price for the company. Howard Weil cut their price objective on EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating for the company in a report on Friday, July 29th. Zacks Investment Research raised EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Tuesday, July 5th. Finally, Citigroup Inc. lifted their price objective on EQT Corp. from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average 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.
Want to see what other hedge funds are holding EQT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EQT Corp. (NYSE:EQT).
Receive News & Ratings for EQT Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT Corp. and related companies with MarketBeat.com's FREE daily email newsletter.