Clean Yield Group Lowers Stake in EQT Corp. (EQT)
Clean Yield Group reduced its stake in EQT Corp. (NYSE:EQT) by 7.1% during the second quarter, Holdings Channel reports. The institutional investor owned 7,110 shares of the company’s stock after selling 545 shares during the period. Clean Yield Group’s holdings in EQT Corp. were worth $551,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc raised its stake in shares of EQT Corp. by 2.1% in the first quarter. IFP Advisors Inc now owns 2,860 shares of the company’s stock valued at $192,000 after buying an additional 60 shares in the last quarter. Eqis Capital Management Inc. bought a new stake in EQT Corp. during the second quarter worth $222,000. Fox Run Management L.L.C. bought a new stake in EQT Corp. during the second quarter worth $232,000. Canada Pension Plan Investment Board raised 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 period. Finally, Fisher Asset Management LLC raised 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 period. 87.73% of the stock is owned by institutional investors and hedge funds.
EQT Corp. (NYSE:EQT) traded up 4.41% during trading on Friday, reaching $72.62. The company’s stock had a trading volume of 1,893,595 shares. 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 price is $71.45 and its 200 day moving average price is $71.34. The company’s market capitalization is $12.54 billion.
EQT Corp. (NYSE:EQT) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $127.53 million for the quarter, compared to the consensus estimate of $461.53 million. During the same quarter in the previous year, the company posted ($0.06) EPS. The company’s revenue was down 71.0% compared to the same quarter last year. On average, analysts predict that EQT Corp. will post ($0.62) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend was Wednesday, August 10th. EQT Corp.’s dividend payout ratio is currently -5.66%.
A number of research firms have recently weighed in on EQT. Zacks Investment Research raised EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Tuesday, July 5th. Deutsche Bank AG lowered EQT Corp. from a “buy” rating to a “hold” rating and dropped their price objective for the company from $81.00 to $79.00 in a research note on Monday, June 13th. Howard Weil dropped their price objective on EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating for the company in a research note on Friday, July 29th. Jefferies Group increased their price objective on EQT Corp. from $74.00 to $77.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Finally, Barclays PLC increased their price objective on EQT Corp. from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of C$78.78.
EQT Corp. Company Profile
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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