Oregon Public Employees Retirement Fund lifted its stake in EQT Co. (NYSE:EQT) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,288 shares of the oil and gas producer’s stock after purchasing an additional 1,456 shares during the period. Oregon Public Employees Retirement Fund’s holdings in EQT were worth $1,633,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of EQT. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of EQT in the first quarter worth about $29,000. Hilton Capital Management LLC bought a new position in shares of EQT in the first quarter worth about $65,000. Hunter Associates Investment Management LLC bought a new position in shares of EQT in the first quarter worth about $200,000. Sciencast Management LP bought a new position in shares of EQT in the first quarter worth about $203,000. Finally, Cidel Asset Management Inc. bought a new position in shares of EQT in the first quarter worth about $207,000. Hedge funds and other institutional investors own 96.04% of the company’s stock.
In other EQT news, CEO Robert Joseph Mcnally purchased 13,572 shares of EQT stock in a transaction on Wednesday, May 29th. The stock was bought at an average cost of $18.37 per share, with a total value of $249,317.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Erin R. Centofanti sold 2,970 shares of the firm’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 transaction of $47,609.10. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.
EQT (NYSE:EQT) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.13. The firm had revenue of $958.40 million during the quarter, compared to analyst estimates of $929.86 million. EQT had a negative net margin of 7.41% and a positive return on equity of 4.25%. EQT’s revenue was down 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS. As a group, sell-side analysts anticipate that EQT Co. will post 1.02 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 9th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, August 8th. EQT’s payout ratio is currently 7.06%.
EQT has been the topic of a number of research analyst reports. Wells Fargo & Co upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a report on Monday, May 20th. Macquarie assumed coverage on shares of EQT in a report on Wednesday, May 29th. They set a “neutral” rating and a $21.00 target price on the stock. Cowen assumed coverage on shares of EQT in a report on Tuesday, April 9th. They set a “market perform” rating and a $24.00 target price on the stock. Morgan Stanley dropped their target price on shares of EQT from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Friday, July 26th. Finally, TD Securities dropped their target price on shares of EQT from $17.50 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $33.47.
EQT Company Profile
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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