NWQ Investment Management Company LLC raised its stake in shares of EQT Co. (NYSE:EQT) by 45.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,665,792 shares of the oil and gas producer’s stock after acquiring an additional 834,827 shares during the quarter. EQT makes up about 2.0% of NWQ Investment Management Company LLC’s portfolio, making the stock its 3rd biggest position. NWQ Investment Management Company LLC owned approximately 1.53% of EQT worth $151,737,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Calton & Associates Inc. acquired a new stake in shares of EQT in the 4th quarter worth $104,000. NuWave Investment Management LLC acquired a new stake in shares of EQT in the 4th quarter worth $126,000. Assetmark Inc. boosted its position in shares of EQT by 445.1% in the 4th quarter. Assetmark Inc. now owns 2,284 shares of the oil and gas producer’s stock worth $130,000 after purchasing an additional 1,865 shares in the last quarter. Zeke Capital Advisors LLC acquired a new stake in shares of EQT in the 3rd quarter worth $212,000. Finally, FNY Partners Fund LP acquired a new stake in shares of EQT in the 4th quarter worth $220,000. 91.48% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on EQT. ValuEngine cut EQT from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $67.00 price objective (up previously from $64.00) on shares of EQT in a research report on Wednesday, February 21st. Wolfe Research raised EQT from a “peer perform” rating to an “outperform” rating in a research report on Wednesday, February 14th. Jefferies Group set a $65.00 price objective on EQT and gave the stock a “hold” rating in a research report on Tuesday, January 30th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $75.00 price objective on shares of EQT in a research report on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. EQT currently has an average rating of “Buy” and an average target price of $77.38.
EQT (NYSE:EQT) last released its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.54. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $909.42 million. EQT had a return on equity of 2.35% and a net margin of 44.66%. The company’s revenue was up 197.9% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. analysts forecast that EQT Co. will post 1.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Wednesday, February 14th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.23%. EQT’s payout ratio is currently 1.68%.
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EQT Company Profile
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
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