LMR Partners LLP cut its position in shares of EQT Corp. (NYSE:EQT) by 91.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,602 shares of the company’s stock after selling 26,182 shares during the period. LMR Partners LLP’s holdings in EQT Corp. were worth $201,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Fisher Asset Management LLC increased its stake in EQT Corp. by 0.3% in the second quarter. Fisher Asset Management LLC now owns 3,258 shares of the company’s stock worth $251,000 after buying an additional 10 shares during the last quarter. First Manhattan Co. increased its stake in EQT Corp. by 0.6% in the second quarter. First Manhattan Co. now owns 6,490 shares of the company’s stock worth $502,000 after buying an additional 40 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in EQT Corp. by 1.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 7,493 shares of the company’s stock worth $504,000 after buying an additional 75 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in EQT Corp. by 3.4% in the first quarter. Canada Pension Plan Investment Board now owns 3,014 shares of the company’s stock worth $203,000 after buying an additional 100 shares during the last quarter. Finally, Conning Inc. increased its stake in EQT Corp. by 3.7% in the second quarter. Conning Inc. now owns 4,727 shares of the company’s stock worth $366,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds own 87.73% of the company’s stock.
Shares of EQT Corp. (NYSE:EQT) traded down 4.14% during trading on Friday, reaching $67.46. 1,542,303 shares of the company traded hands. The stock’s market capitalization is $11.65 billion. EQT Corp. has a 12-month low of $47.10 and a 12-month high of $80.61. The firm’s 50 day moving average is $71.91 and its 200-day moving average is $71.90.
EQT Corp. (NYSE:EQT) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.06. The business earned $127.53 million during the quarter, compared to the consensus estimate of $461.53 million. EQT Corp. had a negative net margin of 18.74% and a negative return on equity of 1.27%. The firm’s revenue for the quarter was down 71.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) earnings per share. On average, equities research analysts anticipate that EQT Corp. will post ($0.64) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.18%. The ex-dividend date is Tuesday, November 8th. EQT Corp.’s dividend payout ratio is presently -5.66%.
A number of research firms recently weighed in on EQT. Jefferies Group increased their price objective on EQT Corp. from $74.00 to $77.00 and gave the company a “hold” rating in a report on Friday, July 29th. Scotiabank downgraded EQT Corp. from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $91.00 to $90.00 in a report on Thursday, August 11th. Howard Weil decreased their price target on EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating for the company in a report on Friday, July 29th. Citigroup Inc. increased their price target on EQT Corp. from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. Finally, Zacks Investment Research upgraded EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Tuesday, July 5th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target 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.