Bp Plc acquired a new stake in shares of EQT Corp. (NYSE:EQT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,000 shares of the company’s stock, valued at approximately $1,548,000.
Several other institutional investors also recently modified their holdings of EQT. Ngam Advisors L.P. bought a new position in shares of EQT Corp. during the first quarter valued at $692,000. Prudential Financial Inc. raised its position in shares of EQT Corp. by 3.6% in the first quarter. Prudential Financial Inc. now owns 200,834 shares of the company’s stock valued at $13,509,000 after buying an additional 7,000 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of EQT Corp. by 1.1% in the first quarter. BlackRock Fund Advisors now owns 2,731,419 shares of the company’s stock valued at $183,715,000 after buying an additional 30,640 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of EQT Corp. during the first quarter valued at $1,501,000. Finally, M&T Bank Corp raised its position in shares of EQT Corp. by 7.4% in the first quarter. M&T Bank Corp now owns 14,742 shares of the company’s stock valued at $991,000 after buying an additional 1,016 shares during the last quarter. 87.74% of the stock is currently owned by institutional investors.
EQT Corp. (NYSE:EQT) traded down 0.47% during midday trading on Tuesday, reaching $65.61. 1,454,040 shares of the company traded hands. EQT Corp. has a one year low of $47.10 and a one year high of $80.61. The stock’s 50 day moving average is $71.58 and its 200 day moving average is $71.92. The company’s market capitalization is $11.33 billion.
EQT Corp. (NYSE:EQT) last announced its quarterly earnings results 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. EQT Corp. had a negative return on equity of 1.27% and a negative net margin of 18.74%. The firm had revenue of $127.53 million for the quarter, compared to analysts’ expectations of $461.53 million. During the same period in the prior year, the business posted ($0.06) earnings per share. The company’s revenue was down 71.0% on a year-over-year basis. On average, equities analysts anticipate that EQT Corp. will post ($0.64) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.18%. The ex-dividend date is Tuesday, November 8th. EQT Corp.’s dividend payout ratio is presently -5.66%.
Several equities analysts have recently weighed in on EQT shares. 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 report on Tuesday, July 5th. Howard Weil lowered their price target on shares of EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 29th. Barclays PLC raised their price target on shares of EQT Corp. from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, July 29th. Citigroup Inc. raised their price target on shares of EQT Corp. from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, July 29th. Finally, Jefferies Group raised their price target on shares of EQT Corp. from $74.00 to $77.00 and gave the stock a “hold” rating in a research report on Friday, July 29th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. EQT Corp. presently has an average rating of “Hold” and a consensus target price of C$77.50.
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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