Smith Salley & Associates increased its stake in EQT Corp. (NYSE:EQT) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 68,217 shares of the company’s stock after buying an additional 202 shares during the period. Smith Salley & Associates’ holdings in EQT Corp. were worth $5,282,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Wedge Capital Management L L P NC acquired a new stake in shares of EQT Corp. during the second quarter valued at approximately $85,980,000. State Street Corp increased its stake in shares of EQT Corp. by 10.0% in the first quarter. State Street Corp now owns 8,314,010 shares of the company’s stock valued at $559,202,000 after buying an additional 756,362 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of EQT Corp. by 26.2% in the first quarter. Geode Capital Management LLC now owns 1,534,925 shares of the company’s stock valued at $103,064,000 after buying an additional 318,450 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of EQT Corp. by 8.8% in the first quarter. Wellington Management Group LLP now owns 2,962,442 shares of the company’s stock valued at $199,254,000 after buying an additional 240,382 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in shares of EQT Corp. during the second quarter valued at approximately $16,265,000. Institutional investors and hedge funds own 87.74% of the company’s stock.
Shares of EQT Corp. (NYSE:EQT) traded down 2.05% during midday trading on Monday, hitting $66.08. The stock had a trading volume of 589,590 shares. EQT Corp. has a 52 week low of $47.10 and a 52 week high of $80.61. The stock’s 50-day moving average price is $71.91 and its 200 day moving average price is $71.90. The company’s market cap is $11.42 billion.
EQT Corp. (NYSE:EQT) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.06. EQT Corp. had a negative net margin of 18.74% and a negative return on equity of 1.27%. The firm had revenue of $127.53 million for the quarter, compared to analyst estimates of $461.53 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The business’s quarterly revenue was down 71.0% compared to the same quarter last year. On average, equities analysts forecast that EQT Corp. will post ($0.64) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be issued a dividend of $0.03 per share. The ex-dividend date is Tuesday, November 8th. This represents a $0.12 annualized dividend and a dividend yield of 0.18%. EQT Corp.’s dividend payout ratio is currently -5.66%.
Several analysts recently commented on EQT shares. Zacks Investment Research raised EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research note on Tuesday, July 5th. Howard Weil dropped their price objective 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. Barclays PLC raised their price objective on EQT Corp. from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, July 29th. Citigroup Inc. raised their price objective on EQT Corp. from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Finally, Jefferies Group raised their price objective on EQT Corp. from $74.00 to $77.00 and gave the stock a “hold” 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 stock. The company presently has an average rating of “Hold” and an average target price of C$77.50.
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.