State Treasurer State of Michigan increased its position in shares of EQT Co. (NYSE:EQT) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 74,670 shares of the oil and gas producer’s stock after buying an additional 2,600 shares during the quarter. State Treasurer State of Michigan’s holdings in EQT were worth $4,120,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of EQT. FDx Advisors Inc. boosted its stake in EQT by 89.1% during the first quarter. FDx Advisors Inc. now owns 21,444 shares of the oil and gas producer’s stock valued at $1,019,000 after buying an additional 10,101 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of EQT by 0.7% in the 1st quarter. Rhumbline Advisers now owns 456,179 shares of the oil and gas producer’s stock valued at $21,673,000 after purchasing an additional 3,201 shares during the last quarter. S&CO Inc. lifted its stake in shares of EQT by 22.6% in the 1st quarter. S&CO Inc. now owns 33,147 shares of the oil and gas producer’s stock valued at $1,575,000 after purchasing an additional 6,109 shares during the last quarter. Fulton Bank N.A. bought a new stake in shares of EQT in the 1st quarter valued at approximately $245,000. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in shares of EQT by 30.2% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 15,410 shares of the oil and gas producer’s stock valued at $732,000 after purchasing an additional 3,574 shares during the last quarter. 91.18% of the stock is owned by institutional investors and hedge funds.
In other EQT news, insider Robert Joseph Mcnally purchased 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 6th. The stock was purchased at an average cost of $51.18 per share, with a total value of $204,720.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kenneth Michael Burke purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The shares were acquired at an average cost of $50.20 per share, with a total value of $251,000.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $251,000. The disclosure for this purchase can be found here. Insiders have purchased a total of 9,385 shares of company stock valued at $476,964 over the last three months. 0.68% of the stock is owned by corporate insiders.
Shares of EQT stock opened at $49.67 on Monday. EQT Co. has a 52-week low of $43.70 and a 52-week high of $66.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $13.15 billion, a P/E ratio of 33.79, a price-to-earnings-growth ratio of 1.51 and a beta of 0.57.
EQT (NYSE:EQT) last issued its quarterly earnings results on Thursday, July 26th. The oil and gas producer reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.07. EQT had a positive return on equity of 3.73% and a negative net margin of 6.19%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company earned $0.06 EPS. EQT’s quarterly revenue was up 53.1% compared to the same quarter last year. research analysts expect that EQT Co. will post 2.2 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Friday, August 10th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, August 9th. EQT’s dividend payout ratio is currently 8.16%.
Several equities research analysts have recently issued reports on the company. ValuEngine raised EQT from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. TheStreet raised EQT from a “d+” rating to a “c-” rating in a research note on Monday, July 23rd. Royal Bank of Canada set a $74.00 price objective on EQT and gave the company a “buy” rating in a research note on Thursday, July 19th. JPMorgan Chase & Co. set a $70.00 price objective on EQT and gave the company a “buy” rating in a research note on Wednesday, June 13th. Finally, Morgan Stanley lowered their price objective on EQT from $64.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, July 12th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $69.57.
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.
Further Reading: Closed-End Mutual Funds (CEFs)
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