American International Group Inc. increased its position in shares of EQT Co. (NYSE:EQT) by 10.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,922 shares of the oil and gas producer’s stock after purchasing an additional 9,871 shares during the period. American International Group Inc.’s holdings in EQT were worth $4,729,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in EQT. Scopia Capital Management LP bought a new stake in EQT during the second quarter worth approximately $102,772,000. Nomura Holdings Inc. grew its position in EQT by 182,853.9% in the second quarter. Nomura Holdings Inc. now owns 1,535,133 shares of the oil and gas producer’s stock worth $84,708,000 after buying an additional 1,535,973 shares during the last quarter. American Century Companies Inc. grew its position in EQT by 20.3% in the third quarter. American Century Companies Inc. now owns 5,932,268 shares of the oil and gas producer’s stock worth $262,384,000 after buying an additional 1,002,794 shares during the last quarter. Sound Shore Management Inc. CT grew its position in EQT by 26.4% in the third quarter. Sound Shore Management Inc. CT now owns 4,070,449 shares of the oil and gas producer’s stock worth $180,036,000 after buying an additional 849,087 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in EQT by 79.1% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,656,037 shares of the oil and gas producer’s stock worth $91,380,000 after buying an additional 731,471 shares during the last quarter. 96.52% of the stock is currently owned by hedge funds and other institutional investors.
EQT stock opened at $18.41 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.47 and a current ratio of 0.47. EQT Co. has a 12 month low of $16.29 and a 12 month high of $59.66. The firm has a market cap of $4.64 billion, a PE ratio of 12.52, a P/E/G ratio of 0.51 and a beta of 0.92.
EQT (NYSE:EQT) last posted its quarterly earnings results on Thursday, October 25th. The oil and gas producer reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. EQT had a negative net margin of 6.86% and a positive return on equity of 3.77%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company posted $0.12 EPS. As a group, equities analysts expect that EQT Co. will post 2.4 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Wednesday, November 21st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Tuesday, November 20th. EQT’s dividend payout ratio is currently 8.16%.
In other EQT news, insider Robert Joseph Mcnally acquired 15,800 shares of EQT stock in a transaction that occurred on Wednesday, October 31st. The stock was acquired at an average price of $34.16 per share, with a total value of $539,728.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Erin R. Centofanti acquired 10,000 shares of EQT stock in a transaction that occurred on Wednesday, November 21st. The stock was acquired at an average cost of $17.52 per share, with a total value of $175,200.00. Following the purchase, the executive vice president now owns 29,471 shares in the company, valued at approximately $516,331.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 94,269 shares of company stock worth $2,311,332. 0.68% of the stock is currently owned by corporate insiders.
EQT has been the topic of several recent research reports. Jefferies Financial Group set a $39.00 price target on shares of EQT and gave the stock a “hold” rating in a research report on Sunday, October 28th. Morgan Stanley set a $48.00 price target on shares of EQT and gave the stock a “hold” rating in a research report on Friday, October 12th. Royal Bank of Canada set a $53.00 price target on shares of EQT and gave the stock a “buy” rating in a research report on Saturday, October 27th. BMO Capital Markets lowered shares of EQT from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $55.00 to $40.00 in a research report on Friday, October 26th. Finally, Credit Suisse Group set a $48.00 price objective on shares of EQT and gave the stock a “buy” rating in a research report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $37.07.
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EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.
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