Qube Research & Technologies Ltd Takes $283,000 Position in EQT Co. (EQT)

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Qube Research & Technologies Ltd bought a new position in shares of EQT Co. (NYSE:EQT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,130 shares of the oil and gas producer’s stock, valued at approximately $283,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Xact Kapitalforvaltning AB lifted its stake in shares of EQT by 3.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 28,774 shares of the oil and gas producer’s stock worth $1,588,000 after buying an additional 919 shares during the last quarter. OLD National Bancorp IN increased its position in EQT by 17.5% during the second quarter. OLD National Bancorp IN now owns 6,472 shares of the oil and gas producer’s stock worth $357,000 after acquiring an additional 966 shares during the period. Flinton Capital Management LLC increased its position in EQT by 9.0% during the first quarter. Flinton Capital Management LLC now owns 12,180 shares of the oil and gas producer’s stock worth $579,000 after acquiring an additional 1,008 shares during the period. Securian Asset Management Inc increased its position in EQT by 4.2% during the second quarter. Securian Asset Management Inc now owns 25,390 shares of the oil and gas producer’s stock worth $1,401,000 after acquiring an additional 1,025 shares during the period. Finally, Mutual of America Capital Management LLC increased its position in EQT by 3.6% during the second quarter. Mutual of America Capital Management LLC now owns 32,521 shares of the oil and gas producer’s stock worth $1,795,000 after acquiring an additional 1,137 shares during the period. Institutional investors own 92.46% of the company’s stock.

EQT stock opened at $47.55 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 0.76. EQT Co. has a 12 month low of $43.70 and a 12 month high of $66.03. The stock has a market capitalization of $12.45 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 1.40 and a beta of 0.60.

EQT (NYSE:EQT) last released its earnings results on Thursday, July 26th. The oil and gas producer reported $0.44 EPS for the quarter, beating the consensus estimate of $0.37 by $0.07. EQT had a negative net margin of 6.19% and a positive return on equity of 3.73%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the firm earned $0.06 EPS. The business’s quarterly revenue was up 53.1% compared to the same quarter last year. equities research analysts forecast that EQT Co. will post 2.25 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Saturday, September 1st. Shareholders of record on Friday, August 10th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.25%. The ex-dividend date was Thursday, August 9th. EQT’s dividend payout ratio is currently 8.16%.

In other news, Director Kenneth Michael Burke bought 5,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The shares were purchased at an average cost of $50.20 per share, with a total value of $251,000.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at $251,000. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.68% of the stock is owned by company insiders.

A number of research firms recently commented on EQT. ValuEngine lowered shares of EQT from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 4th. Royal Bank of Canada set a $74.00 price target on shares of EQT and gave the stock a “buy” rating in a research report on Thursday, July 19th. Stifel Nicolaus began coverage on shares of EQT in a research report on Wednesday, May 23rd. They set a “buy” rating and a $65.00 price target on the stock. JPMorgan Chase & Co. set a $70.00 price target on shares of EQT and gave the stock a “buy” rating in a research report on Wednesday, June 13th. Finally, Morgan Stanley lowered their price target on shares of EQT from $64.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $69.57.

About EQT

EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.

See Also: Diversification in Investing

Institutional Ownership by Quarter for EQT (NYSE:EQT)

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