Connectus Wealth LLC Grows Stock Holdings in EQT Co. (NYSE:EQT)

Connectus Wealth LLC boosted its holdings in shares of EQT Co. (NYSE:EQTFree Report) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,188 shares of the oil and gas producer’s stock after acquiring an additional 514 shares during the period. Connectus Wealth LLC’s holdings in EQT were worth $896,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EQT. Wellington Management Group LLP raised its position in EQT by 61.9% during the third quarter. Wellington Management Group LLP now owns 19,687,594 shares of the oil and gas producer’s stock worth $798,923,000 after acquiring an additional 7,526,875 shares during the last quarter. Vanguard Group Inc. raised its position in EQT by 8.6% during the third quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock worth $1,822,027,000 after acquiring an additional 3,539,661 shares during the last quarter. Boston Partners raised its position in EQT by 4,680.4% during the fourth quarter. Boston Partners now owns 2,868,030 shares of the oil and gas producer’s stock worth $110,854,000 after acquiring an additional 2,808,034 shares during the last quarter. Fiera Capital Corp acquired a new position in EQT during the third quarter worth about $28,017,000. Finally, First Trust Advisors LP raised its position in EQT by 32.7% during the fourth quarter. First Trust Advisors LP now owns 2,144,646 shares of the oil and gas producer’s stock worth $82,912,000 after acquiring an additional 528,644 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EQT. TD Cowen began coverage on shares of EQT in a research report on Friday, April 19th. They issued a “hold” rating and a $43.00 price objective for the company. BMO Capital Markets boosted their price objective on shares of EQT from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Jefferies Financial Group boosted their price objective on shares of EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. StockNews.com raised shares of EQT to a “sell” rating in a research report on Wednesday, May 29th. Finally, Sanford C. Bernstein raised shares of EQT from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $27.00 to $34.00 in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.24.

Get Our Latest Report on EQT

EQT Price Performance

Shares of EQT stock opened at $41.13 on Tuesday. The company has a market capitalization of $18.16 billion, a PE ratio of 29.80 and a beta of 1.06. The firm has a fifty day simple moving average of $39.38 and a 200-day simple moving average of $37.64. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. EQT Co. has a twelve month low of $32.07 and a twelve month high of $45.23.

EQT (NYSE:EQTGet Free Report) last announced its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. The business’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.70 earnings per share. Equities research analysts anticipate that EQT Co. will post 1.03 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th were paid a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.53%. EQT’s dividend payout ratio (DPR) is 45.65%.

Insiders Place Their Bets

In other EQT news, EVP William E. Jordan sold 35,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the sale, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Lesley Evancho sold 46,884 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total value of $1,935,840.36. Following the sale, the insider now owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP William E. Jordan sold 35,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the completion of the sale, the executive vice president now directly owns 456,837 shares in the company, valued at approximately $18,602,402.64. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

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.

Read More

Want to see what other hedge funds are holding EQT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EQT Co. (NYSE:EQTFree Report).

Institutional Ownership by Quarter for EQT (NYSE:EQT)

Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.