Virginia Retirement Systems ET AL acquired a new position in EQT Corp. (NYSE:EQT) during the second quarter, Holdings Channel reports. The institutional investor acquired 6,500 shares of the company’s stock, valued at approximately $503,000.
A number of other institutional investors have also added to or reduced their stakes in EQT. Texas Permanent School Fund increased its position in EQT Corp. by 3.0% in the first quarter. Texas Permanent School Fund now owns 55,116 shares of the company’s stock worth $3,707,000 after buying an additional 1,599 shares in the last quarter. Aperio Group LLC increased its position in EQT Corp. by 56.2% in the first quarter. Aperio Group LLC now owns 67,519 shares of the company’s stock worth $4,541,000 after buying an additional 24,294 shares in the last quarter. Virginia Retirement System acquired a new position in EQT Corp. during the first quarter worth approximately $604,000. IFP Advisors Inc increased its position in EQT Corp. by 2.1% in the first quarter. IFP Advisors Inc now owns 2,860 shares of the company’s stock worth $192,000 after buying an additional 60 shares in the last quarter. Finally, Ngam Advisors L.P. acquired a new position in EQT Corp. during the first quarter worth approximately $692,000. 87.73% of the stock is owned by hedge funds and other institutional investors.
EQT Corp. (NYSE:EQT) opened at 72.87 on Thursday. The company has a 50-day moving average price of $71.95 and a 200-day moving average price of $71.66. EQT Corp. has a 52 week low of $47.10 and a 52 week high of $80.61. The stock’s market cap is $12.59 billion.
EQT Corp. (NYSE:EQT) last announced its earnings results on Thursday, July 28th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.06. The company had revenue of $127.53 million for the quarter, compared to analysts’ expectations of $461.53 million. EQT Corp. had a negative return on equity of 1.27% and a negative net margin of 18.74%. The business’s revenue for the quarter was down 71.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Analysts anticipate that EQT Corp. will post ($0.62) earnings per share for the current year.
Several equities analysts have recently issued reports on EQT shares. Deutsche Bank AG downgraded shares of EQT Corp. from a “buy” rating to a “hold” rating and reduced their price target for the company from $81.00 to $79.00 in a report 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 target for the company in a report on Tuesday, July 5th. Howard Weil reduced their price target on shares of EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating for the company in a report on Friday, July 29th. Barclays PLC boosted their price target on shares of EQT Corp. from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, July 29th. Finally, Citigroup Inc. boosted their price target on shares of EQT Corp. from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target 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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