Tokio Marine Asset Management Co. Ltd. reduced its position in EQT Corp. (NYSE:EQT) by 13.7% during the second quarter, Holdings Channel reports. The firm owned 21,239 shares of the company’s stock after selling 3,358 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in EQT Corp. were worth $1,645,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in EQT Corp. during the fourth quarter worth $60,141,000. Texas Permanent School Fund increased its stake in EQT Corp. by 3.0% in the first quarter. Texas Permanent School Fund now owns 55,116 shares of the company’s stock worth $3,707,000 after buying an additional 1,599 shares during the period. Aperio Group LLC increased its stake in EQT Corp. by 56.2% in the first quarter. Aperio Group LLC now owns 67,519 shares of the company’s stock worth $4,541,000 after buying an additional 24,294 shares during the period. Nisa Investment Advisors L.L.C. increased its stake in EQT Corp. by 190.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 82,020 shares of the company’s stock worth $5,517,000 after buying an additional 53,760 shares during the period. Finally, Virginia Retirement System purchased a new stake in EQT Corp. during the first quarter worth $604,000. Hedge funds and other institutional investors own 87.73% of the company’s stock.
EQT Corp. (NYSE:EQT) traded up 4.41% during trading on Friday, hitting $72.62. 1,893,595 shares of the stock traded hands. EQT Corp. has a one year low of $47.10 and a one year high of $80.61. The company’s 50 day moving average is $71.58 and its 200 day moving average is $71.42. The company’s market capitalization is $12.54 billion.
EQT Corp. (NYSE:EQT) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.06. EQT Corp. had a negative net margin of 18.74% and a negative return on equity of 1.27%. The firm had revenue of $127.53 million for the quarter, compared to analysts’ expectations of $461.53 million. During the same period last year, the firm earned ($0.06) earnings per share. The business’s revenue for the quarter was down 71.0% on a year-over-year basis. On average, equities analysts forecast that EQT Corp. will post ($0.62) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 12th were paid a $0.03 dividend. The ex-dividend date was Wednesday, August 10th. This represents a $0.12 dividend on an annualized basis and a yield of 0.17%. EQT Corp.’s payout ratio is presently -5.66%.
A number of equities research analysts have weighed in on EQT shares. Deutsche Bank AG downgraded EQT Corp. from a “buy” rating to a “hold” rating and cut their target price for the stock from $81.00 to $79.00 in a research report on Monday, June 13th. Zacks Investment Research upgraded EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research report 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 for the company in a research report on Friday, July 29th. Barclays PLC upped their price target on EQT Corp. from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, July 29th. Finally, Citigroup Inc. upped their price target on EQT Corp. from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. EQT Corp. has an average rating of “Hold” and a consensus target price of C$78.78.
About EQT Corp.
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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