Canoe Financial LP Sells 1,629,800 Shares of EQT Corporation (NYSE:EQT)

Canoe Financial LP cut its holdings in EQT Corporation (NYSE:EQT - Free Report) by 64.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 912,200 shares of the oil and gas producer's stock after selling 1,629,800 shares during the period. Canoe Financial LP owned about 0.15% of EQT worth $47,573,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. D.A. Davidson & CO. grew its holdings in shares of EQT by 13.4% in the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer's stock valued at $298,000 after acquiring an additional 762 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in EQT in the fourth quarter valued at approximately $244,000. Bradley Foster & Sargent Inc. CT lifted its stake in EQT by 31.9% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 67,004 shares of the oil and gas producer's stock valued at $3,090,000 after purchasing an additional 16,204 shares during the last quarter. National Pension Service lifted its stake in EQT by 15.0% in the fourth quarter. National Pension Service now owns 870,013 shares of the oil and gas producer's stock valued at $40,116,000 after purchasing an additional 113,600 shares during the last quarter. Finally, Aviva PLC purchased a new position in EQT in the fourth quarter valued at approximately $14,719,000. 90.81% of the stock is owned by institutional investors.

EQT Price Performance

Shares of EQT stock traded up $1.12 on Friday, reaching $60.49. The company's stock had a trading volume of 11,713,396 shares, compared to its average volume of 7,897,882. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. EQT Corporation has a 12-month low of $30.02 and a 12-month high of $60.80. The company has a market capitalization of $36.21 billion, a P/E ratio of 106.12, a PEG ratio of 0.37 and a beta of 0.65. The stock's 50 day simple moving average is $54.15 and its 200-day simple moving average is $51.13.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.20. EQT had a return on equity of 5.52% and a net margin of 6.59%. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. As a group, equities analysts predict that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were given a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.04%. EQT's dividend payout ratio (DPR) is presently 110.53%.

Analyst Upgrades and Downgrades

Several research firms recently commented on EQT. Stephens dropped their price objective on EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. TD Cowen upgraded EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective on the stock in a research note on Tuesday, April 8th. Mizuho upped their price objective on EQT from $57.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. upped their price objective on EQT from $58.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th. Finally, Wall Street Zen downgraded EQT from a "hold" rating to a "sell" rating in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $57.39.

EQT Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.