EQT Corporation (NYSE:EQT) Shares Bought by Ninepoint Partners LP

Ninepoint Partners LP increased its holdings in EQT Corporation (NYSE:EQT - Free Report) by 200.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,500,000 shares of the oil and gas producer's stock after acquiring an additional 1,000,000 shares during the quarter. EQT comprises about 12.6% of Ninepoint Partners LP's investment portfolio, making the stock its 3rd biggest holding. Ninepoint Partners LP owned about 0.25% of EQT worth $80,145,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of EQT by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer's stock worth $3,344,371,000 after acquiring an additional 358,649 shares during the period. Geode Capital Management LLC grew its stake in shares of EQT by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer's stock valued at $663,552,000 after purchasing an additional 429,733 shares during the period. Capital International Investors lifted its stake in shares of EQT by 21.3% in the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock worth $638,867,000 after purchasing an additional 2,433,632 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of EQT by 14.7% in the fourth quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer's stock worth $637,698,000 after buying an additional 1,774,696 shares during the last quarter. Finally, Invesco Ltd. grew its position in EQT by 46.3% during the fourth quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer's stock valued at $606,059,000 after buying an additional 4,162,065 shares during the period. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Stock Performance

Shares of EQT stock traded down $1.81 on Friday, hitting $52.22. The stock had a trading volume of 8,472,081 shares, compared to its average volume of 9,672,821. The stock has a market cap of $32.59 billion, a price-to-earnings ratio of 28.23, a P/E/G ratio of 0.36 and a beta of 0.65. EQT Corporation has a 52-week low of $30.02 and a 52-week high of $61.02. The company's 50 day moving average price is $56.38 and its 200 day moving average price is $53.10. The company has a current ratio of 0.71, a quick ratio of 0.57 and a debt-to-equity ratio of 0.32.

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

EQT Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.21%. EQT's payout ratio is currently 34.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Stephens dropped their price target on shares of 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 raised EQT from a "hold" rating to a "buy" rating and set a $54.00 price target for the company in a report on Tuesday, April 8th. Morgan Stanley reaffirmed an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. Wall Street Zen downgraded EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Finally, Jefferies Financial Group restated a "buy" rating and set a $70.00 target price (up previously from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $60.84.

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.