MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in EQT Co. (NYSE:EQT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 21,600 shares of the oil and gas producer’s stock, valued at approximately $955,000.
A number of other hedge funds also recently made changes to their positions in the business. Russell Investments Group Ltd. acquired a new position in EQT in the first quarter worth $3,340,000. The Manufacturers Life Insurance Company boosted its stake in EQT by 12.8% in the first quarter. The Manufacturers Life Insurance Company now owns 288,399 shares of the oil and gas producer’s stock worth $13,703,000 after purchasing an additional 32,615 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in EQT by 7.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 19,082 shares of the oil and gas producer’s stock worth $903,000 after purchasing an additional 1,392 shares in the last quarter. LPL Financial LLC boosted its stake in EQT by 179.5% in the first quarter. LPL Financial LLC now owns 27,891 shares of the oil and gas producer’s stock worth $1,325,000 after purchasing an additional 17,911 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in EQT by 27.2% in the first quarter. Millennium Management LLC now owns 518,520 shares of the oil and gas producer’s stock worth $24,635,000 after purchasing an additional 111,036 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.
In other EQT news, Director Kenneth Michael Burke purchased 5,000 shares of the stock in a transaction on Thursday, August 9th. The stock was bought at an average cost of $50.20 per share, for a total transaction of $251,000.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $251,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Joseph Mcnally purchased 15,800 shares of the stock in a transaction on Wednesday, October 31st. The stock was acquired at an average price of $34.16 per share, with a total value of $539,728.00. The disclosure for this purchase can be found here. Insiders purchased 47,609 shares of company stock valued at $1,698,612 in the last quarter. 0.68% of the stock is currently owned by corporate insiders.
EQT has been the topic of a number of recent analyst reports. Jefferies Financial Group set a $39.00 price objective on EQT and gave the stock a “hold” rating in a research note on Sunday, October 28th. Morgan Stanley cut their price target on EQT from $54.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, September 26th. Royal Bank of Canada set a $53.00 price target on EQT and gave the company a “buy” rating in a research note on Saturday, October 27th. Goldman Sachs Group initiated coverage on EQT in a research note on Monday, September 17th. They set a “neutral” rating and a $54.00 price target on the stock. Finally, Credit Suisse Group set a $48.00 price target on EQT and gave the company a “buy” rating in a research note on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. EQT currently has an average rating of “Hold” and a consensus target price of $57.77.
NYSE EQT opened at $35.02 on Wednesday. The stock has a market capitalization of $8.30 billion, a P/E ratio of 23.82, a P/E/G ratio of 0.93 and a beta of 0.91. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.48. EQT Co. has a 12 month low of $30.53 and a 12 month high of $66.03.
EQT (NYSE:EQT) last released its quarterly earnings data on Thursday, October 25th. The oil and gas producer reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.11 billion. EQT had a positive return on equity of 3.77% and a negative net margin of 6.86%. During the same quarter in the prior year, the company posted $0.12 earnings per share. On average, equities research analysts predict that EQT Co. will post 2.35 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Friday, November 9th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. EQT’s dividend payout ratio is presently 8.16%.
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EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.
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