Investment Management Corp of Ontario Boosts Holdings in EQT Co. (NYSE:EQT)

Investment Management Corp of Ontario increased its holdings in EQT Co. (NYSE:EQT - Free Report) by 63.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,731 shares of the oil and gas producer's stock after purchasing an additional 11,961 shares during the quarter. Investment Management Corp of Ontario's holdings in EQT were worth $1,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Franklin Resources Inc. raised its holdings in shares of EQT by 121.1% during the third quarter. Franklin Resources Inc. now owns 316,945 shares of the oil and gas producer's stock valued at $11,600,000 after acquiring an additional 173,596 shares in the last quarter. Principal Financial Group Inc. increased its position in EQT by 39.4% during the 3rd quarter. Principal Financial Group Inc. now owns 700,714 shares of the oil and gas producer's stock valued at $25,674,000 after purchasing an additional 198,227 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in EQT by 15.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer's stock valued at $1,914,000 after purchasing an additional 5,489 shares during the period. Czech National Bank increased its position in EQT by 6.9% during the 4th quarter. Czech National Bank now owns 129,373 shares of the oil and gas producer's stock valued at $5,965,000 after purchasing an additional 8,363 shares during the period. Finally, Wedmont Private Capital purchased a new position in EQT during the 4th quarter valued at $600,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Price Performance

EQT traded down $0.36 on Thursday, hitting $56.00. 9,100,900 shares of the company's stock traded hands, compared to its average volume of 7,930,824. The company's 50 day simple moving average is $51.28 and its 200-day simple moving average is $48.49. The firm has a market cap of $33.52 billion, a price-to-earnings ratio of 140.00, a P/E/G ratio of 0.64 and a beta of 0.59. EQT Co. has a one year low of $30.02 and a one year high of $57.02. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.20. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. As a group, research analysts anticipate that EQT Co. will post 3.27 EPS for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.13%. EQT's dividend payout ratio is currently 110.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EQT shares. TD Cowen upgraded EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective for the company in a report on Tuesday, April 8th. UBS Group upgraded shares of EQT from a "neutral" rating to a "buy" rating and increased their price objective for the company from $54.00 to $64.00 in a research report on Monday, May 5th. Wells Fargo & Company raised their target price on shares of EQT from $53.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, March 19th. Citigroup boosted their target price on shares of EQT from $51.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, March 17th. Finally, StockNews.com downgraded EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $56.67.

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.