Hsbc Holdings PLC boosted its stake in EQT Co. (NYSE:EQT) by 781.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 186,409 shares of the oil and gas producer’s stock after acquiring an additional 165,257 shares during the period. Hsbc Holdings PLC owned 0.07% of EQT worth $3,521,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Prudential Financial Inc. increased its position in EQT by 78.2% in the 3rd quarter. Prudential Financial Inc. now owns 573,178 shares of the oil and gas producer’s stock valued at $25,352,000 after acquiring an additional 251,597 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in EQT by 14.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 304,700 shares of the oil and gas producer’s stock valued at $13,477,000 after acquiring an additional 39,400 shares during the period. Dimensional Fund Advisors LP increased its position in EQT by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 865,368 shares of the oil and gas producer’s stock valued at $38,278,000 after acquiring an additional 3,718 shares during the period. Bourgeon Capital Management LLC acquired a new position in EQT in the 4th quarter valued at about $195,000. Finally, Texas Permanent School Fund increased its position in EQT by 180.9% in the 4th quarter. Texas Permanent School Fund now owns 166,493 shares of the oil and gas producer’s stock valued at $3,145,000 after acquiring an additional 107,228 shares during the period. Hedge funds and other institutional investors own 96.49% of the company’s stock.
Several equities analysts recently issued reports on EQT shares. Royal Bank of Canada cut EQT from an “outperform” rating to a “sector perform” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Morgan Stanley set a $10.00 price target on EQT and gave the company a “sell” rating in a research report on Tuesday, January 29th. Stifel Nicolaus set a $79.00 price target on EQT and gave the company a “buy” rating in a research report on Thursday, December 20th. Credit Suisse Group restated a “buy” rating and issued a $24.00 price target on shares of EQT in a research report on Tuesday, January 22nd. Finally, Goldman Sachs Group upgraded EQT from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, November 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. EQT presently has an average rating of “Hold” and a consensus target price of $38.43.
NYSE EQT opened at $19.41 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.84. EQT Co. has a 12-month low of $16.29 and a 12-month high of $31.28. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.46 and a beta of 0.68.
EQT (NYSE:EQT) last released its earnings results on Thursday, February 14th. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.02). EQT had a positive return on equity of 4.46% and a negative net margin of 45.88%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, equities research analysts forecast that EQT Co. will post 1.35 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 15th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Thursday, February 14th. EQT’s dividend payout ratio (DPR) is 7.06%.
In other news, Director A. Bray Jr. Cary purchased 1,390 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The shares were acquired at an average price of $18.89 per share, with a total value of $26,257.10. Following the purchase, the director now directly owns 28,000 shares of the company’s stock, valued at $528,920. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Philip G. Behrman purchased 5,331 shares of the firm’s stock in a transaction dated Wednesday, December 26th. The shares were purchased at an average cost of $19.37 per share, for a total transaction of $103,261.47. Following the purchase, the director now directly owns 20,000 shares in the company, valued at $387,400. The disclosure for this purchase can be found here. Insiders have bought a total of 38,670 shares of company stock worth $740,668 in the last three months. Corporate insiders own 0.68% of the company’s stock.
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EQT Company Profile
EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.
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