Nikko Asset Management Americas Inc. decreased its holdings in shares of EQT Co. (NYSE:EQT) by 8.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 191,855 shares of the oil and gas producer’s stock after selling 17,513 shares during the quarter. Nikko Asset Management Americas Inc. owned approximately 0.08% of EQT worth $3,979,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in EQT in the first quarter valued at $29,000. Clean Yield Group acquired a new stake in EQT in the fourth quarter valued at $34,000. Financial Architects Inc lifted its stake in EQT by 55.1% in the fourth quarter. Financial Architects Inc now owns 2,131 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 757 shares during the last quarter. JOYN Advisors Inc. lifted its stake in EQT by 282.1% in the fourth quarter. JOYN Advisors Inc. now owns 3,546 shares of the oil and gas producer’s stock valued at $67,000 after acquiring an additional 2,618 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in EQT by 287.0% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 4,184 shares of the oil and gas producer’s stock valued at $79,000 after acquiring an additional 3,103 shares during the last quarter. Hedge funds and other institutional investors own 96.49% of the company’s stock.
EQT stock traded down $0.14 during trading hours on Friday, reaching $19.43. 3,735,900 shares of the stock were exchanged, compared to its average volume of 4,229,961. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.51 and a beta of 0.70. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.39. EQT Co. has a twelve month low of $16.29 and a twelve month high of $31.28.
EQT (NYSE:EQT) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company posted $0.67 earnings per share. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. On average, sell-side analysts expect that EQT Co. will post 1.42 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.62%. EQT’s payout ratio is currently 7.06%.
In related news, EVP Erin R. Centofanti purchased 7,765 shares of EQT stock in a transaction dated Friday, March 29th. The shares were bought at an average cost of $20.83 per share, for a total transaction of $161,744.95. Following the purchase, the executive vice president now owns 59,594 shares in the company, valued at approximately $1,241,343.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Joseph Mcnally purchased 12,660 shares of EQT stock in a transaction dated Friday, March 29th. The stock was bought at an average price of $20.80 per share, for a total transaction of $263,328.00. Following the completion of the purchase, the chief executive officer now owns 193,072 shares in the company, valued at approximately $4,015,897.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 27,510 shares of company stock worth $566,316. 0.68% of the stock is currently owned by corporate insiders.
A number of analysts have commented on the stock. Wells Fargo & Co upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a research note on Monday. Morgan Stanley set a $10.00 price target on shares of EQT and gave the company a “sell” rating in a research note on Tuesday, January 29th. TD Securities increased their price target on shares of EQT from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, February 20th. Jefferies Financial Group reissued a “hold” rating and issued a $21.00 price objective on shares of EQT in a research report on Tuesday, January 29th. Finally, Cowen began coverage on shares of EQT in a research report on Tuesday, April 9th. They issued a “market perform” rating and a $24.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. EQT has an average rating of “Hold” and an average target price 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.
See Also: SEC Filing
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