QRG Capital Management Inc. bought a new stake in EQT Corporation (NYSE:EQT - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 16,170 shares of the oil and gas producer's stock, valued at approximately $864,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of EQT. Invesco Ltd. grew its stake in EQT by 46.3% in the 4th 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 last quarter. Slate Path Capital LP acquired a new position in EQT in the 4th quarter valued at $123,575,000. Castle Hook Partners LP grew its stake in EQT by 199.5% in the 4th quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer's stock valued at $184,012,000 after buying an additional 2,658,375 shares during the last quarter. Raymond James Financial Inc. acquired a new position in EQT in the 4th quarter valued at $113,924,000. Finally, Capital International Investors grew its stake in 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 valued at $638,867,000 after buying an additional 2,433,632 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on EQT. JPMorgan Chase & Co. increased their price target on shares of EQT from $58.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Scotiabank reissued a "sector perform" rating and issued a $62.00 price target (up from $57.00) on shares of EQT in a report on Thursday, May 22nd. TD Cowen raised shares of 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. Wells Fargo & Company increased their price target on shares of EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Finally, Morgan Stanley increased their price target on shares of EQT from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.39.
Check Out Our Latest Research Report on EQT
EQT Price Performance
Shares of NYSE:EQT traded up $1.12 during midday trading on Friday, reaching $60.49. 11,713,396 shares of the company's stock were exchanged, compared to its average volume of 7,897,882. The company's 50 day simple moving average is $54.15 and its two-hundred day simple moving average is $51.13. The firm has a market capitalization of $36.21 billion, a PE ratio of 106.12, a price-to-earnings-growth ratio of 0.37 and a beta of 0.65. EQT Corporation has a 12 month low of $30.02 and a 12 month high of $60.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57.
EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.20. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. EQT had a net margin of 6.59% and a return on equity of 5.52%. Equities research analysts expect that EQT Corporation will post 3.27 earnings per share for the current fiscal year.
EQT Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Wednesday, May 7th. EQT's dividend payout ratio (DPR) is currently 110.53%.
EQT Company Profile
(
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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