Principal Financial Group Inc. boosted its position in shares of EQT Corp. (NYSE:EQT) by 8.7% during the second quarter, Holdings Channel reports. The institutional investor owned 261,059 shares of the company’s stock after buying an additional 20,910 shares during the period. Principal Financial Group Inc. owned about 0.15% of EQT Corp. worth $20,214,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in EQT. Fisher Asset Management LLC boosted its position in shares of EQT Corp. by 0.3% in the second quarter. Fisher Asset Management LLC now owns 3,258 shares of the company’s stock worth $251,000 after buying an additional 10 shares in the last quarter. First Manhattan Co. boosted its position in shares of EQT Corp. by 0.6% in the second quarter. First Manhattan Co. now owns 6,490 shares of the company’s stock worth $502,000 after buying an additional 40 shares in the last quarter. IFP Advisors Inc boosted its position in shares of EQT Corp. by 2.1% in the first quarter. IFP Advisors Inc now owns 2,860 shares of the company’s stock worth $192,000 after buying an additional 60 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of EQT Corp. by 1.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 7,493 shares of the company’s stock worth $504,000 after buying an additional 75 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of EQT Corp. by 3.4% in the first quarter. Canada Pension Plan Investment Board now owns 3,014 shares of the company’s stock worth $203,000 after buying an additional 100 shares in the last quarter. 87.73% of the stock is currently owned by institutional investors.
EQT Corp. (NYSE:EQT) opened at 72.62 on Friday. The firm’s 50-day moving average price is $71.58 and its 200-day moving average price is $71.42. EQT Corp. has a 52 week low of $47.10 and a 52 week high of $80.61. The stock’s market cap is $12.54 billion.
EQT Corp. (NYSE:EQT) last issued 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 return on equity of 1.27% and a negative net margin of 18.74%. The business had revenue of $127.53 million for the quarter, compared to the consensus estimate of $461.53 million. During the same period in the prior year, the business posted ($0.06) earnings per share. The company’s quarterly revenue was down 71.0% compared to the same quarter last year. Equities analysts predict that EQT Corp. will post ($0.62) earnings per share for the current fiscal year.
A number of brokerages recently weighed in on EQT. Scotiabank cut EQT Corp. from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $91.00 to $90.00 in a report on Thursday, August 11th. Jefferies Group raised their price target on EQT Corp. from $74.00 to $77.00 and gave the stock a “hold” rating in a research report on Friday, July 29th. Howard Weil reduced their price target on EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 29th. Zacks Investment Research upgraded EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Tuesday, July 5th. Finally, Citigroup Inc. raised their price target on EQT Corp. from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, July 29th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently 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.
Want to see what other hedge funds are holding EQT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EQT Corp. (NYSE:EQT).
Receive News & Ratings for EQT Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT Corp. and related companies with MarketBeat.com's FREE daily email newsletter.