ING Groep NV Increases Stake in EQT Corp. (EQT)
ING Groep NV boosted its stake in EQT Corp. (NYSE:EQT) by 66.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,137 shares of the company’s stock after buying an additional 2,439 shares during the period. ING Groep NV’s holdings in EQT Corp. were worth $475,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of EQT. Fisher Asset Management LLC raised its position in EQT Corp. by 0.3% in the second quarter. Fisher Asset Management LLC now owns 3,258 shares of the company’s stock valued at $251,000 after buying an additional 10 shares during the last quarter. First Manhattan Co. raised its position in EQT Corp. by 0.6% in the second quarter. First Manhattan Co. now owns 6,490 shares of the company’s stock valued at $502,000 after buying an additional 40 shares during the last quarter. IFP Advisors Inc raised its position in 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 during the last quarter. Silvercrest Asset Management Group LLC raised its position 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 valued at $504,000 after buying an additional 75 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position 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 valued at $203,000 after buying an additional 100 shares during the last quarter. 87.73% of the stock is currently owned by hedge funds and other institutional investors.
EQT Corp. (NYSE:EQT) traded up 0.83% during mid-day trading on Monday, hitting $72.95. The stock had a trading volume of 1,059,911 shares. The stock’s market cap is $12.60 billion. EQT Corp. has a 12-month low of $47.10 and a 12-month high of $80.61. The company has a 50-day moving average of $72.09 and a 200-day moving average of $71.73.
EQT Corp. (NYSE:EQT) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.35) EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $461.53 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. The company’s revenue was down 71.0% compared to the same quarter last year. On average, analysts anticipate that EQT Corp. will post ($0.64) earnings per share for the current fiscal year.
Several equities analysts recently issued reports on the company. Scotiabank lowered EQT Corp. from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $91.00 to $90.00 in a research note on Thursday, August 11th. Jefferies Group increased their price target on EQT Corp. from $74.00 to $77.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Howard Weil reduced their price target on EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 29th. Zacks Investment Research raised EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Tuesday, July 5th. Finally, Citigroup Inc. increased their price target on EQT Corp. from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, July 29th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price 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.
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