Virginia Retirement Systems ET AL acquired a new stake in shares of EQT Co. (NYSE:EQT) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 145,500 shares of the oil and gas producer’s stock, valued at approximately $3,018,000. Virginia Retirement Systems ET AL owned about 0.06% of EQT as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the stock. Tortoise Capital Advisors L.L.C. boosted its holdings in EQT by 119.9% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 701,848 shares of the oil and gas producer’s stock valued at $31,043,000 after purchasing an additional 382,705 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in EQT by 3.1% during the third quarter. Bank of New York Mellon Corp now owns 2,126,614 shares of the oil and gas producer’s stock valued at $94,061,000 after purchasing an additional 63,163 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in EQT by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 865,368 shares of the oil and gas producer’s stock valued at $38,278,000 after purchasing an additional 3,718 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in EQT by 28.4% during the third quarter. Advisors Asset Management Inc. now owns 28,133 shares of the oil and gas producer’s stock valued at $1,244,000 after purchasing an additional 6,227 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in EQT during the third quarter valued at approximately $1,117,000. 96.49% of the stock is currently owned by institutional investors.
Shares of NYSE:EQT traded down $1.50 during trading on Wednesday, reaching $19.95. The stock had a trading volume of 3,217,147 shares, compared to its average volume of 4,219,949. EQT Co. has a 52 week low of $16.29 and a 52 week high of $31.28. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $5.31 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 1.46 and a beta of 0.70.
EQT (NYSE:EQT) last posted its earnings results on Thursday, April 25th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. EQT had a negative net margin of 10.17% and a positive return on equity of 4.51%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. EQT’s quarterly revenue was down 12.9% compared to the same quarter last year. As a group, analysts forecast that EQT Co. will post 1.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Tuesday, May 14th. EQT’s dividend payout ratio (DPR) is presently 7.06%.
In related news, CEO Robert Joseph Mcnally acquired 12,660 shares of the company’s stock in a transaction that occurred on Friday, March 29th. The stock was purchased at an average price of $20.80 per share, for a total transaction of $263,328.00. Following the transaction, the chief executive officer now directly owns 193,072 shares of the company’s stock, valued at approximately $4,015,897.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donald M. Jenkins acquired 5,750 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was bought at an average price of $19.46 per share, with a total value of $111,895.00. Following the transaction, the executive vice president now directly owns 44,871 shares in the company, valued at $873,189.66. The disclosure for this purchase can be found here. Insiders purchased a total of 33,260 shares of company stock valued at $678,211 in the last 90 days. 0.68% of the stock is currently owned by corporate insiders.
A number of research firms have weighed in on EQT. MKM Partners reaffirmed a “neutral” rating and set a $23.00 price objective on shares of EQT in a report on Tuesday, April 16th. Cowen began coverage on EQT in a report on Tuesday, April 9th. They set a “market perform” rating and a $24.00 price objective on the stock. TD Securities lifted their price objective on EQT from $23.00 to $25.00 and gave the company a “hold” rating in a report on Monday, April 29th. Wells Fargo & Co raised EQT from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a report on Monday. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $24.00 target price on shares of EQT in a research note on Tuesday, January 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $35.27.
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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