Peconic Partners LLC increased its position in EQT Corporation (NYSE:EQT) by 19.9% during the third quarter, Holdings Channel reports. The firm owned 179,845 shares of the company’s stock after buying an additional 29,845 shares during the period. EQT Corporation makes up 1.7% of Peconic Partners LLC’s portfolio, making the stock its 15th largest position. Peconic Partners LLC’s holdings in EQT Corporation were worth $13,060,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company bought a new stake in shares of EQT Corporation during the third quarter worth about $12,468,000. Virtus Investment Advisers Inc. bought a new stake in shares of EQT Corporation during the third quarter worth about $185,000. Waldron LP bought a new stake in shares of EQT Corporation during the third quarter worth about $362,000. CSS LLC IL increased its stake in shares of EQT Corporation by 19.4% in the third quarter. CSS LLC IL now owns 3,700 shares of the company’s stock worth $269,000 after buying an additional 600 shares during the period. Finally, Advantus Capital Management Inc increased its stake in shares of EQT Corporation by 1.0% in the third quarter. Advantus Capital Management Inc now owns 17,020 shares of the company’s stock worth $1,236,000 after buying an additional 168 shares during the period. 90.34% of the stock is owned by institutional investors and hedge funds.
Shares of EQT Corporation (NYSE:EQT) opened at 64.35 on Friday. The stock’s market cap is $11.12 billion. The company’s 50-day moving average price is $63.75 and its 200 day moving average price is $68.34. EQT Corporation has a 1-year low of $54.22 and a 1-year high of $80.61.
EQT Corporation (NYSE:EQT) last released its earnings results on Thursday, February 2nd. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.31. EQT Corporation had a negative return on equity of 0.53% and a negative net margin of 28.16%. The firm had revenue of $379.02 million for the quarter, compared to the consensus estimate of $578.01 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The firm’s revenue for the quarter was down 37.0% compared to the same quarter last year. Equities analysts forecast that EQT Corporation will post $0.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Friday, February 17th will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, February 15th. This represents a $0.12 annualized dividend and a yield of 0.19%. EQT Corporation’s dividend payout ratio is presently -4.49%.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded EQT Corporation from a “buy” rating to a “hold” rating in a research note on Thursday. Scotiabank reaffirmed a “hold” rating and issued a $85.00 target price on shares of EQT Corporation in a research note on Monday, February 6th. KLR Group reaffirmed a “buy” rating and issued a $94.00 target price on shares of EQT Corporation in a research note on Friday, February 3rd. Jefferies Group LLC reissued a “hold” rating and set a $70.00 price objective on shares of EQT Corporation in a research report on Wednesday, January 18th. Finally, BMO Capital Markets downgraded EQT Corporation from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $75.00 to $73.00 in a research report on Wednesday, January 11th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. EQT Corporation presently has an average rating of “Hold” and an average target price of $79.44.
In other news, Director A. Bray Jr. Cary purchased 417 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was bought at an average cost of $65.40 per share, for a total transaction of $27,271.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
About EQT Corporation
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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