Trading Report: The Strs Ohio Boosts Position in EQT Corp. (EQT)

The Strs Ohio Boosts Position in EQT Corp. (EQT)

Strs Ohio raised its stake in shares of EQT Corp. (NYSE:EQT) by 4.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,811 shares of the company’s stock after buying an additional 705 shares during the period. Strs Ohio’s holdings in EQT Corp. were worth $1,224,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. RS Investment Management Co. LLC boosted its position in shares of EQT Corp. by 74.1% in the second quarter. RS Investment Management Co. LLC now owns 89,491 shares of the company’s stock valued at $6,929,000 after buying an additional 38,085 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of EQT Corp. by 5.6% in the second quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the company’s stock valued at $875,000 after buying an additional 600 shares during the period. Bank of Montreal Can purchased a new position in shares of EQT Corp. during the second quarter valued at about $9,417,000. Shell Asset Management Co. boosted its position in shares of EQT Corp. by 14.4% in the second quarter. Shell Asset Management Co. now owns 29,776 shares of the company’s stock valued at $2,306,000 after buying an additional 3,745 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in shares of EQT Corp. by 17.1% in the second quarter. Daiwa Securities Group Inc. now owns 4,100 shares of the company’s stock valued at $317,000 after buying an additional 600 shares during the period. Institutional investors own 87.73% of the company’s stock.

Shares of EQT Corp. (NYSE:EQT) traded down 0.99% on Wednesday, reaching $70.35. The company’s stock had a trading volume of 917,181 shares. The company’s 50 day moving average is $72.12 and its 200-day moving average is $71.91. EQT Corp. has a 1-year low of $47.10 and a 1-year high of $80.61. The firm’s market cap is $12.15 billion.

EQT Corp. (NYSE:EQT) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06. EQT Corp. had a negative return on equity of 1.27% and a negative net margin of 18.74%. The company earned $127.53 million during the quarter, compared to the consensus estimate of $461.53 million. During the same period in the prior year, the company earned ($0.06) earnings per share. The company’s revenue for the quarter was down 71.0% compared to the same quarter last year. Equities research analysts expect that EQT Corp. will post ($0.64) EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.17%. EQT Corp.’s dividend payout ratio is currently -5.66%.

A number of equities research analysts have issued reports on the company. KLR Group reiterated a “buy” rating and issued a $95.00 target price (down from $100.00) on shares of EQT Corp. in a research note on Monday, August 1st. Howard Weil cut their target price on EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 29th. Wolfe Research assumed coverage on EQT Corp. in a research note on Friday, October 7th. They issued a “buy” rating and a $85.00 target price on the stock. Zacks Investment Research upgraded EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Tuesday, July 5th. Finally, Citigroup Inc. raised their target price on EQT Corp. from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of C$78.22.

About EQT Corp.

EQT Corporation (EQT) is an energy company. The Company operates through two business segments: EQT Production and EQT Midstream. EQT Production is a natural gas producer in the Appalachian Basin with over 10 trillion cubic feet equivalent (Tcfe) of natural gas, natural gas liquid (NGL) and crude oil reserves across approximately 3.4 million acres, including approximately 630,000 gross acres in the Marcellus play.

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