Ameriprise Financial Inc. Reduces Stake in EQT Co. (EQT)

Ameriprise Financial Inc. cut its position in shares of EQT Co. (NYSE:EQT) by 29.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,297,046 shares of the oil and gas producer’s stock after selling 537,504 shares during the period. Ameriprise Financial Inc.’s holdings in EQT were worth $79,248,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Municipal Employees Retirement System of Michigan increased its position in shares of EQT by 0.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,460 shares of the oil and gas producer’s stock worth $397,000 after buying an additional 20 shares in the last quarter. Shell Asset Management Co. increased its position in shares of EQT by 0.3% in the first quarter. Shell Asset Management Co. now owns 16,575 shares of the oil and gas producer’s stock worth $1,013,000 after buying an additional 52 shares in the last quarter. Dean Investment Associates LLC increased its position in shares of EQT by 1.3% in the third quarter. Dean Investment Associates LLC now owns 7,062 shares of the oil and gas producer’s stock worth $513,000 after buying an additional 90 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of EQT by 3.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,593 shares of the oil and gas producer’s stock worth $262,000 after buying an additional 165 shares in the last quarter. Finally, Advantus Capital Management Inc increased its position in shares of EQT by 1.0% in the third quarter. Advantus Capital Management Inc now owns 17,020 shares of the oil and gas producer’s stock worth $1,236,000 after buying an additional 168 shares in the last quarter. Institutional investors own 93.46% of the company’s stock.

Institutional Ownership by Quarter for EQT (NYSE:EQT)

EQT Co. (NYSE:EQT) traded up 1.71% during midday trading on Friday, hitting $56.42. The stock had a trading volume of 1,487,014 shares. The firm’s market capitalization is $9.78 billion. EQT Co. has a 1-year low of $55.09 and a 1-year high of $80.61. The firm has a 50-day moving average price of $60.17 and a 200-day moving average price of $63.14.

EQT (NYSE:EQT) last issued its earnings results on Thursday, April 27th. The oil and gas producer reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The business had revenue of $897.50 million for the quarter, compared to the consensus estimate of $713.65 million. EQT had a negative return on equity of 0.53% and a negative net margin of 28.16%. The business’s revenue was up 64.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 earnings per share. On average, equities research analysts anticipate that EQT Co. will post $1.49 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Friday, May 12th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $0.12 annualized dividend and a yield of 0.22%. EQT’s dividend payout ratio (DPR) is presently -4.49%.

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A number of equities analysts have recently weighed in on the company. Jefferies Group LLC set a $69.00 target price on EQT and gave the company a “hold” rating in a report on Saturday, March 4th. Scotiabank set a $82.00 price objective on EQT and gave the stock a “hold” rating in a report on Saturday, April 22nd. Royal Bank of Canada set a $86.00 price objective on EQT and gave the stock a “buy” rating in a report on Tuesday, April 25th. Stifel Nicolaus started coverage on EQT in a report on Thursday, March 23rd. They issued a “buy” rating and a $63.00 price objective on the stock. Finally, Tudor Pickering upgraded EQT from a “hold” rating to a “buy” rating in a report on Monday, March 13th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $81.50.

In other news, Director A. Bray Jr. Cary purchased 421 shares of EQT stock in a transaction that occurred on Monday, April 3rd. The stock was acquired at an average cost of $61.10 per share, for a total transaction of $25,723.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider M Elise Hyland sold 3,479 shares of the business’s stock in a transaction on Friday, March 31st. The shares were sold at an average price of $60.56, for a total value of $210,688.24. Following the completion of the sale, the insider now owns 15,941 shares of the company’s stock, valued at $965,386.96. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

EQT Company Profile

EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.

5 Day Chart for NYSE:EQT

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