Westpac Banking Corp raised its position in shares of EQT Corp. (NYSE:EQT) by 26.1% during the second quarter, Holdings Channel reports. The institutional investor owned 12,160 shares of the company’s stock after buying an additional 2,515 shares during the period. Westpac Banking Corp’s holdings in EQT Corp. were worth $877,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Mizuho Asset Management Co. Ltd. boosted its stake in shares of EQT Corp. by 116.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,280 shares of the company’s stock worth $177,000 after buying an additional 1,229 shares during the period. Boston Family Office LLC purchased a new stake in shares of EQT Corp. during the second quarter worth about $205,000. Everence Capital Management Inc. purchased a new stake in shares of EQT Corp. during the second quarter worth about $217,000. IFP Advisors Inc boosted its stake 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 during the period. Finally, Eqis Capital Management Inc. purchased a new stake in shares of EQT Corp. during the second quarter worth about $222,000. Institutional investors own 87.73% of the company’s stock.
Shares of EQT Corp. (NYSE:EQT) opened at 72.62 on Friday. The firm’s market capitalization is $12.54 billion. The stock has a 50 day moving average of $71.58 and a 200-day moving average of $71.42. EQT Corp. has a 12-month low of $47.10 and a 12-month high of $80.61.
EQT Corp. (NYSE:EQT) last announced its earnings results on Thursday, July 28th. The company reported ($0.35) EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $127.53 million for the quarter, compared to analysts’ expectations of $461.53 million. During the same period in the prior year, the business posted ($0.06) earnings per share. The firm’s revenue was down 71.0% on a year-over-year basis. On average, equities research analysts predict that EQT Corp. will post ($0.62) EPS for the current fiscal year.
A number of equities research analysts have commented on the stock. Zacks Investment Research raised shares of EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Tuesday, July 5th. Deutsche Bank AG lowered shares of EQT Corp. from a “buy” rating to a “hold” rating and reduced their target price for the company from $81.00 to $79.00 in a research note on Monday, June 13th. Jefferies Group raised their target price on shares of EQT Corp. from $74.00 to $77.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Citigroup Inc. raised their target price on shares of EQT Corp. from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. Finally, Barclays PLC raised their target price on shares of EQT Corp. from $82.00 to $85.00 and gave the company an “overweight” rating in a research note 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 company. EQT Corp. has an average rating of “Hold” and an average price target 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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