EQT Co. (NYSE:EQT) Stock Holdings Increased by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its holdings in EQT Co. (NYSE:EQT) by 65.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,463 shares of the oil and gas producer’s stock after acquiring an additional 17,940 shares during the quarter. State of Alaska Department of Revenue’s holdings in EQT were worth $483,000 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. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of EQT during the second quarter worth about $115,579,000. HBK Investments L P increased its position in shares of EQT by 66.7% in the second quarter. HBK Investments L P now owns 5,000,000 shares of the oil and gas producer’s stock valued at $79,050,000 after buying an additional 1,999,994 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of EQT by 91.3% in the second quarter. Nuveen Asset Management LLC now owns 2,674,144 shares of the oil and gas producer’s stock valued at $42,278,000 after buying an additional 1,276,072 shares in the last quarter. Balyasny Asset Management LLC purchased a new stake in shares of EQT in the second quarter valued at approximately $39,818,000. Finally, Victory Capital Management Inc. increased its position in shares of EQT by 15.4% in the second quarter. Victory Capital Management Inc. now owns 2,245,620 shares of the oil and gas producer’s stock valued at $35,503,000 after buying an additional 299,385 shares in the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

In other EQT news, insider (Mick) O’brien Michael 16,562 shares of the company’s stock in a transaction on Monday, October 28th. 0.68% of the stock is owned by corporate insiders.

Several analysts recently commented on EQT shares. Royal Bank of Canada upgraded EQT from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $16.00 to $17.00 in a research report on Friday. Wells Fargo & Co dropped their price target on EQT from $29.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Morgan Stanley lowered their price objective on EQT from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, July 26th. ValuEngine raised EQT from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, TD Securities lowered their price objective on EQT from $17.50 to $16.00 and set a “hold” rating on the stock in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $26.50.

Shares of EQT stock traded up $0.53 on Friday, hitting $11.59. The stock had a trading volume of 6,276,157 shares, compared to its average volume of 4,971,174. The company’s 50 day moving average price is $10.25 and its 200-day moving average price is $14.31. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. EQT Co. has a 1 year low of $9.03 and a 1 year high of $21.86. The firm has a market capitalization of $2.78 billion, a P/E ratio of 6.82, a P/E/G ratio of 1.22 and a beta of 0.64.

EQT (NYSE:EQT) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported ($0.06) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.11. EQT had a positive return on equity of 3.81% and a negative net margin of 14.65%. The company had revenue of $951.60 million for the quarter, compared to the consensus estimate of $883.29 million. During the same quarter in the prior year, the business earned $0.35 EPS. EQT’s revenue was down 9.4% on a year-over-year basis. On average, equities analysts forecast that EQT Co. will post 0.89 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.12 annualized dividend and a yield of 1.04%. EQT’s dividend payout ratio (DPR) is 7.06%.

About EQT

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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