Oppenheimer Asset Management Inc. grew its holdings in shares of EQT Corporation (NYSE:EQT - Free Report) by 133.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,822 shares of the oil and gas producer's stock after purchasing an additional 29,084 shares during the period. Oppenheimer Asset Management Inc.'s holdings in EQT were worth $2,715,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new position in EQT during the 1st quarter valued at about $226,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of EQT by 48.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 68,244 shares of the oil and gas producer's stock worth $3,646,000 after acquiring an additional 22,207 shares during the last quarter. Cherry Creek Investment Advisors Inc. increased its holdings in shares of EQT by 45.0% during the first quarter. Cherry Creek Investment Advisors Inc. now owns 46,141 shares of the oil and gas producer's stock valued at $2,465,000 after acquiring an additional 14,328 shares in the last quarter. EWA LLC acquired a new position in shares of EQT during the first quarter valued at about $244,000. Finally, Canton Hathaway LLC purchased a new position in shares of EQT in the 1st quarter valued at approximately $214,000. Institutional investors and hedge funds own 90.81% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on EQT. Wells Fargo & Company boosted their target price on shares of EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Wall Street Zen lowered shares of EQT from a "hold" rating to a "sell" rating in a report on Monday, April 7th. Roth Capital initiated coverage on EQT in a research note on Tuesday. They issued a "buy" rating and a $69.00 target price for the company. Scotiabank reaffirmed a "sector perform" rating and set a $62.00 price target (up previously from $57.00) on shares of EQT in a research report on Thursday, May 22nd. Finally, Citigroup increased their price objective on EQT from $51.00 to $60.00 and gave the company a "buy" rating in a report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $58.00.
Check Out Our Latest Analysis on EQT
EQT Stock Performance
EQT opened at $58.16 on Friday. The firm has a fifty day moving average price of $54.82 and a 200 day moving average price of $51.50. EQT Corporation has a 1 year low of $30.02 and a 1 year high of $61.02. The stock has a market cap of $34.82 billion, a P/E ratio of 102.03, a P/E/G ratio of 0.36 and a beta of 0.65. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.57.
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 for the quarter, topping analysts' consensus estimates of $0.98 by $0.20. EQT had a net margin of 6.59% and a return on equity of 5.52%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equities research analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current year.
EQT Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th were given a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.08%. EQT's dividend payout ratio is currently 110.53%.
About EQT
(
Free Report)
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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