Daiwa Securities Group Inc. boosted its stake in EQT Co. (NYSE:EQT) by 52.7% in the fourth quarter, HoldingsChannel reports. The firm owned 7,828 shares of the oil and gas producer’s stock after purchasing an additional 2,700 shares during the quarter. Daiwa Securities Group Inc.’s holdings in EQT were worth $446,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Share Andrew L. acquired a new position in EQT during the fourth quarter worth about $580,007,000. Wedge Capital Management L L P NC raised its stake in EQT by 27.6% during the fourth quarter. Wedge Capital Management L L P NC now owns 3,797,012 shares of the oil and gas producer’s stock worth $216,126,000 after acquiring an additional 820,493 shares in the last quarter. State of Tennessee Treasury Department raised its stake in EQT by 22.5% during the third quarter. State of Tennessee Treasury Department now owns 821,326 shares of the oil and gas producer’s stock worth $53,584,000 after acquiring an additional 150,856 shares in the last quarter. California Public Employees Retirement System raised its stake in EQT by 46.3% during the fourth quarter. California Public Employees Retirement System now owns 436,060 shares of the oil and gas producer’s stock worth $24,821,000 after acquiring an additional 138,008 shares in the last quarter. Finally, Reinhart Partners Inc. raised its stake in EQT by 44.1% during the fourth quarter. Reinhart Partners Inc. now owns 403,964 shares of the oil and gas producer’s stock worth $22,994,000 after acquiring an additional 123,712 shares in the last quarter.
Several research analysts have commented on the company. SunTrust Banks reissued a “hold” rating and set a $65.00 target price on shares of EQT in a research note on Friday, December 8th. Morgan Stanley reduced their price target on EQT from $63.00 to $59.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Credit Suisse Group began coverage on EQT in a report on Monday, December 11th. They set an “outperform” rating and a $70.00 price target on the stock. Jefferies Group set a $62.00 price target on EQT and gave the stock a “hold” rating in a report on Wednesday, December 20th. Finally, Wolfe Research upgraded EQT from a “peer perform” rating to an “outperform” rating in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $76.77.
Shares of EQT Co. (EQT) opened at $52.55 on Monday. EQT Co. has a twelve month low of $43.70 and a twelve month high of $67.84. The company has a market capitalization of $9,134.87, a P/E ratio of 38.08, a P/E/G ratio of 2.10 and a beta of 0.70. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.40.
EQT (NYSE:EQT) last announced its earnings results on Thursday, February 15th. The oil and gas producer reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.54. EQT had a return on equity of 2.35% and a net margin of 44.66%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $909.42 million. During the same period in the prior year, the business posted $0.25 earnings per share. The firm’s revenue was up 197.9% on a year-over-year basis. equities analysts predict that EQT Co. will post 1.67 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, February 14th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.23%. The ex-dividend date is Tuesday, February 13th. EQT’s payout ratio is presently 1.68%.
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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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