Tortoise Capital Advisors L.L.C. Buys 382,705 Shares of EQT Co. (EQT)
Tortoise Capital Advisors L.L.C. boosted its stake in shares of EQT Co. (NYSE:EQT) by 119.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 701,848 shares of the oil and gas producer’s stock after buying an additional 382,705 shares during the quarter. Tortoise Capital Advisors L.L.C.’s holdings in EQT were worth $31,043,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Alliancebernstein L.P. increased its position in EQT by 0.9% in the 3rd quarter. Alliancebernstein L.P. now owns 389,001 shares of the oil and gas producer’s stock valued at $17,206,000 after buying an additional 3,477 shares in the last quarter. Norinchukin Bank The increased its position in EQT by 18.8% in the 3rd quarter. Norinchukin Bank The now owns 33,956 shares of the oil and gas producer’s stock valued at $1,502,000 after buying an additional 5,380 shares in the last quarter. Chartwell Investment Partners LLC increased its position in EQT by 5.0% in the 3rd quarter. Chartwell Investment Partners LLC now owns 70,512 shares of the oil and gas producer’s stock valued at $3,119,000 after buying an additional 3,347 shares in the last quarter. Quantum Capital Management increased its position in EQT by 41.0% in the 3rd quarter. Quantum Capital Management now owns 108,806 shares of the oil and gas producer’s stock valued at $4,812,000 after buying an additional 31,615 shares in the last quarter. Finally, MML Investors Services LLC bought a new stake in EQT in the 3rd quarter valued at about $218,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.
EQT traded up $0.01 during midday trading on Monday, reaching $16.64. 24,683 shares of the company were exchanged, compared to its average volume of 12,589,101. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market capitalization of $4.23 billion, a P/E ratio of 11.24, a P/E/G ratio of 0.48 and a beta of 0.91. EQT Co. has a one year low of $16.29 and a one year high of $60.35.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Wednesday, November 21st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Tuesday, November 20th. EQT’s dividend payout ratio is currently 8.16%.
A number of analysts recently commented on the company. TheStreet raised EQT from a “d+” rating to a “c-” rating in a research report on Monday, July 23rd. Morgan Stanley decreased their target price on EQT from $59.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, August 16th. LADENBURG THALM/SH SH set a $70.00 target price on EQT and gave the company a “buy” rating in a research report on Friday, August 17th. Royal Bank of Canada set a $71.00 target price on EQT and gave the company a “buy” rating in a research report on Thursday, September 20th. Finally, Goldman Sachs Group assumed coverage on EQT in a research report on Monday, September 17th. They issued a “neutral” rating and a $54.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.93.
In related news, CFO Robert Joseph Mcnally acquired 2,829 shares of the firm’s stock in a transaction on Friday, November 2nd. The stock was purchased at an average cost of $32.93 per share, with a total value of $93,158.97. Following the acquisition, the chief financial officer now owns 47,715 shares of the company’s stock, valued at approximately $1,571,254.95. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James E. Rohr acquired 10,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were bought at an average cost of $34.66 per share, with a total value of $346,600.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 42,609 shares of company stock valued at $1,447,612 over the last three months. Corporate insiders own 0.68% of the company’s stock.
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EQT Company Profile
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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