Connor Clark & Lunn Investment Management Ltd. Has $21.54 Million Holdings in EQT Corporation (NYSE:EQT)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has significantly increased its stake in EQT Corporation by 196.8% during the first quarter, now holding approximately $21.54 million worth of shares.
• Several institutional investors, including National Bank of Canada FI and Citigroup Inc., have also boosted their stakes, highlighting strong institutional interest with 90.81% of the stock owned by such investors.
• Despite reporting earnings below consensus estimates, EQT announced a quarterly dividend of $0.1575 per share, representing a 1.2% dividend yield for shareholders.

Connor Clark & Lunn Investment Management Ltd. increased its stake in EQT Corporation (NYSE:EQT - Free Report) by 196.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 403,082 shares of the oil and gas producer's stock after purchasing an additional 267,256 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of EQT worth $21,537,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Donoghue Forlines LLC acquired a new position in EQT in the 1st quarter worth $2,458,000. Zions Bancorporation National Association UT acquired a new position in EQT in the 1st quarter worth $35,000. Townsquare Capital LLC boosted its stake in EQT by 21.2% in the 1st quarter. Townsquare Capital LLC now owns 23,934 shares of the oil and gas producer's stock worth $1,279,000 after purchasing an additional 4,180 shares during the period. National Bank of Canada FI lifted its position in EQT by 61.2% during the 1st quarter. National Bank of Canada FI now owns 450,087 shares of the oil and gas producer's stock worth $24,048,000 after buying an additional 170,838 shares in the last quarter. Finally, Citigroup Inc. lifted its position in EQT by 18.5% during the 1st quarter. Citigroup Inc. now owns 711,712 shares of the oil and gas producer's stock worth $38,027,000 after buying an additional 111,282 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other EQT news, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $51.94, for a total transaction of $646,029.72. Following the transaction, the executive vice president owned 13,297 shares in the company, valued at $690,646.18. This represents a 48.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Vicky A. Bailey sold 4,259 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total transaction of $219,594.04. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Morgan Stanley reissued an "overweight" rating on shares of EQT in a research report on Tuesday, July 15th. Royal Bank Of Canada boosted their price target on shares of EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 8th. Stephens cut their price target on shares of EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Mizuho raised shares of EQT to an "outperform" rating and set a $66.00 price target on the stock in a research report on Tuesday, July 8th. Finally, UBS Group reissued a "buy" rating on shares of EQT in a research report on Monday, July 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $60.84.

EQT Stock Up 0.1%

EQT stock opened at $51.29 on Friday. The stock has a market cap of $32.01 billion, a P/E ratio of 27.72, a P/E/G ratio of 0.36 and a beta of 0.59. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. EQT Corporation has a twelve month low of $30.59 and a twelve month high of $61.02. The company's 50-day moving average price is $55.70 and its two-hundred day moving average price is $53.13.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same period in the prior year, the company earned ($0.08) earnings per share. As a group, analysts expect that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, August 6th. EQT's dividend payout ratio is presently 34.05%.

About EQT

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.

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