BI Asset Management Fondsmaeglerselskab A S cut its stake in shares of EQT Corporation (NYSE:EQT – Free Report) by 35.5% during the 1st quarter, HoldingsChannel reports. The firm owned 27,598 shares of the oil and gas producer’s stock after selling 15,163 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in EQT were worth $1,756,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Reaves W H & Co. Inc. boosted its position in EQT by 12.9% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock valued at $62,282,000 after buying an additional 132,741 shares in the last quarter. Whittier Trust Co. raised its position in EQT by 2.3% in the fourth quarter. Whittier Trust Co. now owns 587,172 shares of the oil and gas producer’s stock valued at $31,361,000 after purchasing an additional 13,232 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of EQT by 9.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,072 shares of the oil and gas producer’s stock valued at $31,253,000 after purchasing an additional 48,587 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of EQT by 228.5% during the fourth quarter. SG Americas Securities LLC now owns 517,651 shares of the oil and gas producer’s stock valued at $27,746,000 after purchasing an additional 360,049 shares in the last quarter. Finally, Adams Natural Resources Fund Inc. grew its holdings in shares of EQT by 19.1% during the fourth quarter. Adams Natural Resources Fund Inc. now owns 262,600 shares of the oil and gas producer’s stock worth $14,075,000 after purchasing an additional 42,100 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.
EQT Stock Performance
NYSE:EQT opened at $51.56 on Thursday. The firm has a market capitalization of $32.25 billion, a P/E ratio of 9.78 and a beta of 0.55. EQT Corporation has a twelve month low of $48.47 and a twelve month high of $68.24. The company has a fifty day moving average of $55.65 and a 200-day moving average of $57.08. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.19.
EQT Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Wednesday, May 6th were issued a dividend of $0.165 per share. The ex-dividend date was Wednesday, May 6th. This represents a $0.66 annualized dividend and a dividend yield of 1.3%. EQT’s payout ratio is currently 12.52%.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on EQT. Capital One Financial boosted their target price on shares of EQT from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Sanford C. Bernstein dropped their price target on shares of EQT from $73.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Morgan Stanley lifted their price target on shares of EQT from $69.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 27th. Zacks Research cut shares of EQT from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, Barclays increased their price objective on EQT from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.29.
Read Our Latest Stock Analysis on EQT
Insider Activity at EQT
In other news, CEO Toby Z. Rice sold 1,731 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $53.46, for a total transaction of $92,539.26. Following the transaction, the chief executive officer directly owned 2,333,193 shares of the company’s stock, valued at $124,732,497.78. This represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky A. Bailey sold 4,116 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $59.80, for a total value of $246,136.80. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 102,830 shares of company stock valued at $5,602,913. Corporate insiders own 0.72% of the company’s stock.
EQT Company Profile
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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