Penobscot Investment Management Company Inc. lowered its stake in shares of EQT Corp. (NYSE:EQT) by 7.1% during the second quarter, Holdings Channel reports. The firm owned 13,000 shares of the company’s stock after selling 1,000 shares during the period. Penobscot Investment Management Company Inc.’s holdings in EQT Corp. were worth $1,007,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Ngam Advisors L.P. acquired a new position in EQT Corp. during the first quarter valued at $692,000. Prudential Financial Inc. boosted its position in EQT Corp. by 3.6% in the first quarter. Prudential Financial Inc. now owns 200,834 shares of the company’s stock valued at $13,509,000 after buying an additional 7,000 shares during the period. BlackRock Fund Advisors boosted its position in EQT Corp. by 1.1% in the first quarter. BlackRock Fund Advisors now owns 2,731,419 shares of the company’s stock valued at $183,715,000 after buying an additional 30,640 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in EQT Corp. during the first quarter valued at $1,501,000. Finally, M&T Bank Corp boosted its position in EQT Corp. by 7.4% in the first quarter. M&T Bank Corp now owns 14,742 shares of the company’s stock valued at $991,000 after buying an additional 1,016 shares during the period. Institutional investors and hedge funds own 87.74% of the company’s stock.
Shares of EQT Corp. (NYSE:EQT) traded down 0.47% on Tuesday, reaching $65.61. The company’s stock had a trading volume of 1,454,040 shares. The stock’s market cap is $11.33 billion. The firm’s 50 day moving average is $71.75 and its 200-day moving average is $71.97. EQT Corp. has a 52-week low of $47.10 and a 52-week high of $80.61.
EQT Corp. (NYSE:EQT) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.35) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.06. EQT Corp. had a negative return on equity of 1.27% and a negative net margin of 18.74%. The firm earned $127.53 million during the quarter, compared to analysts’ expectations of $461.53 million. During the same quarter last year, the firm posted ($0.06) earnings per share. The company’s revenue for the quarter was down 71.0% compared to the same quarter last year. On average, equities research analysts forecast that EQT Corp. will post ($0.64) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.12 dividend on an annualized basis and a yield of 0.18%. EQT Corp.’s dividend payout ratio (DPR) is presently -5.66%.
EQT has been the topic of several research reports. Zacks Investment Research upgraded EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Tuesday, July 5th. Howard Weil cut their target price on EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 29th. Barclays PLC boosted their target price on EQT Corp. from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. Citigroup Inc. boosted their target price on EQT Corp. from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. Finally, Jefferies Group boosted their target price on EQT Corp. from $74.00 to $77.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. EQT Corp. has a consensus rating of “Hold” and an average price target of C$77.50.
EQT Corp. Company Profile
EQT Corporation (EQT) is an energy company. The Company operates through two business segments: EQT Production and EQT Midstream. EQT Production is a natural gas producer in the Appalachian Basin with over 10 trillion cubic feet equivalent (Tcfe) of natural gas, natural gas liquid (NGL) and crude oil reserves across approximately 3.4 million acres, including approximately 630,000 gross acres in the Marcellus play.
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