Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its holdings in shares of EQT Corporation (NYSE:EQT) by 24.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,966 shares of the oil and gas producer’s stock after selling 8,580 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in EQT Corporation were worth $1,759,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in EQT. Neuberger Berman Group LLC boosted its position in shares of EQT Corporation by 13.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,328,251 shares of the oil and gas producer’s stock worth $136,412,000 after acquiring an additional 270,054 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of EQT Corporation by 6.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 3,142,162 shares of the oil and gas producer’s stock worth $184,099,000 after acquiring an additional 181,277 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of EQT Corporation during the 2nd quarter worth about $4,142,000. Mitchell Group Inc. boosted its position in shares of EQT Corporation by 11.1% during the 2nd quarter. Mitchell Group Inc. now owns 555,569 shares of the oil and gas producer’s stock worth $32,551,000 after acquiring an additional 55,330 shares in the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of EQT Corporation during the 2nd quarter worth about $2,466,000. 99.59% of the stock is owned by institutional investors and hedge funds.
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Shares of EQT Corporation (NYSE EQT) opened at $65.18 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $11,298.50, a P/E ratio of 74.92, a price-to-earnings-growth ratio of 5.46 and a beta of 0.79. EQT Corporation has a one year low of $49.63 and a one year high of $75.74.
EQT Corporation (NYSE:EQT) last issued its earnings results on Thursday, October 26th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.17. The business had revenue of $660.30 million during the quarter, compared to the consensus estimate of $667.05 million. EQT Corporation had a return on equity of 1.61% and a net margin of 1.39%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.26) EPS. equities research analysts predict that EQT Corporation will post 0.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 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 0.18%. The ex-dividend date is Thursday, November 9th. EQT Corporation’s dividend payout ratio (DPR) is 57.15%.
Several research analysts have recently issued reports on EQT shares. Jefferies Group LLC reaffirmed a “hold” rating and set a $66.00 price objective on shares of EQT Corporation in a research report on Tuesday, October 10th. Stifel Nicolaus reissued a “buy” rating and issued a $87.00 target price on shares of EQT Corporation in a research report on Thursday, September 14th. Royal Bank Of Canada reissued a “hold” rating and issued a $78.00 target price on shares of EQT Corporation in a research report on Thursday, July 20th. BidaskClub cut EQT Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, Morgan Stanley upped their target price on EQT Corporation from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. EQT Corporation presently has an average rating of “Buy” and a consensus price target of $78.09.
In other EQT Corporation news, Director A. Bray Jr. Cary bought 406 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was acquired at an average cost of $65.24 per share, with a total value of $26,487.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.
About EQT Corporation
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
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