Toronto Dominion Bank Grows Stock Holdings in EQT Co. (NYSE:EQT)

Toronto Dominion Bank grew its stake in shares of EQT Co. (NYSE:EQT) by 154.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 316,518 shares of the oil and gas producer’s stock after acquiring an additional 191,892 shares during the period. Toronto Dominion Bank owned 0.05% of EQT worth $11,597,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in EQT by 38.7% during the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after purchasing an additional 20,700,921 shares in the last quarter. Modera Wealth Management LLC purchased a new stake in shares of EQT in the third quarter worth about $562,494,000. State Street Corp boosted its position in shares of EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after acquiring an additional 7,290,822 shares during the period. Geode Capital Management LLC grew its stake in EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after acquiring an additional 3,582,418 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in EQT during the 3rd quarter worth approximately $97,979,000. 90.81% of the stock is owned by institutional investors.

Insider Activity at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the sale, the director now directly owns 201,608 shares of the company’s stock, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.63% of the stock is currently owned by company insiders.

EQT Stock Performance

NYSE EQT opened at $45.60 on Friday. The company has a 50-day simple moving average of $41.00 and a two-hundred day simple moving average of $37.46. EQT Co. has a 12-month low of $30.02 and a 12-month high of $48.02. The firm has a market cap of $27.21 billion, a price-to-earnings ratio of 54.28 and a beta of 1.14. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. EQT’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 EPS. On average, equities analysts forecast that EQT Co. will post 1.37 EPS for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 6th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Wednesday, November 6th. EQT’s payout ratio is 75.00%.

Analyst Upgrades and Downgrades

EQT has been the subject of several analyst reports. Sanford C. Bernstein initiated coverage on shares of EQT in a report on Friday, December 6th. They issued a “market perform” rating and a $50.00 price target for the company. Mizuho lifted their price objective on EQT from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Bank of America assumed coverage on EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 target price on the stock. Stephens lifted their price target on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley upped their price objective on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.11.

EQT Company Profile

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.