OMERS ADMINISTRATION Corp Invests $3.74 Million in EQT Corporation $EQT

OMERS ADMINISTRATION Corp bought a new stake in shares of EQT Corporation (NYSE:EQTFree Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 70,410 shares of the oil and gas producer’s stock, valued at approximately $3,744,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. purchased a new stake in EQT in the fourth quarter valued at $26,000. Meeder Asset Management Inc. purchased a new position in shares of EQT during the 2nd quarter valued at about $26,000. Gables Capital Management Inc. purchased a new position in shares of EQT during the 2nd quarter valued at about $37,000. Elyxium Wealth LLC acquired a new position in shares of EQT in the 4th quarter valued at about $49,000. Finally, Root Financial Partners LLC lifted its holdings in shares of EQT by 35.4% in the 1st quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock valued at $49,000 after buying an additional 202 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EQT has been the topic of several analyst reports. Capital One Financial raised their target price on EQT from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Wall Street Zen downgraded EQT from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. JPMorgan Chase & Co. decreased their price target on EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, June 23rd. The Goldman Sachs Group lowered their price objective on EQT from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, Zacks Research cut shares of EQT from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, EQT currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.10.

View Our Latest Stock Analysis on EQT

EQT Trading Up 0.4%

EQT stock opened at $54.00 on Wednesday. The company’s 50-day simple moving average is $52.10 and its 200-day simple moving average is $56.44. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT Corporation has a 52-week low of $47.94 and a 52-week high of $68.24. The firm has a market cap of $33.78 billion, a P/E ratio of 12.53 and a beta of 0.58.

EQT (NYSE:EQTGet Free Report) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The business’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 EPS. As a group, equities analysts forecast that EQT Corporation will post 3.97 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. EQT’s dividend payout ratio (DPR) is currently 15.31%.

Insider Transactions at EQT

In related news, CEO Toby Z. Rice sold 175,328 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the sale, the chief executive officer owned 2,157,865 shares of the company’s stock, valued at approximately $118,747,310.95. The trade was a 7.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 274,042 shares of company stock valued at $15,005,076. 0.72% of the stock is currently owned by company insiders.

About EQT

(Free Report)

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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