Envestnet Asset Management Inc. Acquires 66,401 Shares of EQT Corporation (NYSE:EQT)

Envestnet Asset Management Inc. raised its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 17.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 454,732 shares of the oil and gas producer's stock after buying an additional 66,401 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of EQT worth $24,296,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in shares of EQT during the 4th quarter valued at $244,000. Aviva PLC acquired a new stake in shares of EQT during the 4th quarter valued at $14,719,000. Flagship Harbor Advisors LLC acquired a new stake in shares of EQT during the 1st quarter valued at $226,000. Exchange Traded Concepts LLC boosted its stake in shares of EQT by 101.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 9,039 shares of the oil and gas producer's stock valued at $483,000 after buying an additional 4,559 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of EQT by 15.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,288,322 shares of the oil and gas producer's stock valued at $68,835,000 after buying an additional 172,249 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Price Performance

NYSE:EQT traded up $0.13 on Friday, reaching $58.88. The stock had a trading volume of 877,451 shares, compared to its average volume of 8,041,538. The company has a market capitalization of $35.26 billion, a P/E ratio of 103.23, a price-to-earnings-growth ratio of 0.38 and a beta of 0.65. EQT Corporation has a 1-year low of $30.02 and a 1-year high of $61.02. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $56.55 and a 200-day moving average price of $52.77.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.20. The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. EQT had a net margin of 6.59% and a return on equity of 5.52%. Research analysts forecast that EQT Corporation will post 3.27 EPS for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.07%. EQT's payout ratio is 110.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on EQT shares. Jefferies Financial Group reiterated a "buy" rating and issued a $70.00 price objective (up from $60.00) on shares of EQT in a report on Tuesday, July 8th. Morgan Stanley reiterated an "overweight" rating on shares of EQT in a research note on Tuesday. Wells Fargo & Company increased their price objective on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Barclays began coverage on EQT in a report on Monday, July 7th. They set an "overweight" rating and a $65.00 price objective on the stock. Finally, Wall Street Zen lowered EQT from a "hold" rating to a "sell" rating in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $60.15.

EQT Company 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.