Tyers Asset Management LLC increased its holdings in EQT Co. (NYSE:EQT) by 141.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 83,292 shares of the oil and gas producer’s stock after acquiring an additional 48,774 shares during the quarter. Tyers Asset Management LLC’s holdings in EQT were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Steward Partners Investment Advisory LLC bought a new position in EQT in the second quarter worth approximately $25,000. Machina Capital S.A.S. purchased a new stake in shares of EQT in the 2nd quarter worth $45,000. Hilton Capital Management LLC purchased a new stake in shares of EQT in the 1st quarter worth $65,000. Hunter Associates Investment Management LLC bought a new position in EQT in the 1st quarter worth $200,000. Finally, NuWave Investment Management LLC raised its holdings in EQT by 30,197.6% in the 2nd quarter. NuWave Investment Management LLC now owns 12,725 shares of the oil and gas producer’s stock worth $201,000 after purchasing an additional 12,683 shares during the period. Institutional investors own 97.25% of the company’s stock.
Several analysts have issued reports on EQT shares. Wells Fargo & Co raised EQT from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a report on Monday, May 20th. TD Securities decreased 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. 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 report on Friday, July 26th. Finally, Macquarie assumed coverage on EQT in a research note on Wednesday, May 29th. They set a “neutral” rating and a $21.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. EQT has a consensus rating of “Hold” and a consensus price target of $31.03.
In other EQT news, EVP Erin R. Centofanti sold 2,970 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $16.03, for a total value of $47,609.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.68% of the stock is currently owned by insiders.
NYSE:EQT traded up $0.21 on Wednesday, reaching $12.02. 157,144 shares of the company’s stock traded hands, compared to its average volume of 5,784,947. The stock has a 50-day simple moving average of $12.12 and a 200-day simple moving average of $17.08. EQT Co. has a 12 month low of $9.71 and a 12 month high of $26.77. The firm has a market cap of $3.02 billion, a PE ratio of 7.06, a P/E/G ratio of 1.50 and a beta of 0.64. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.44.
EQT (NYSE:EQT) last released its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.13. EQT had a positive return on equity of 4.25% and a negative net margin of 7.41%. The firm had revenue of $958.40 million during the quarter, compared to analyst estimates of $929.86 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, equities analysts anticipate that EQT Co. will post 0.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.12 dividend on an annualized basis and a yield of 1.00%. EQT’s dividend payout ratio is presently 7.06%.
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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