EQT Co. (NYSE:EQT) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital increased its position in shares of EQT Co. (NYSE:EQT) by 28.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,233 shares of the oil and gas producer’s stock after purchasing an additional 2,070 shares during the period. Wedmont Private Capital’s holdings in EQT were worth $344,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. California State Teachers Retirement System grew its position in EQT by 3.6% in the fourth quarter. California State Teachers Retirement System now owns 538,463 shares of the oil and gas producer’s stock worth $20,817,000 after acquiring an additional 18,804 shares during the period. Tower Research Capital LLC TRC boosted its stake in EQT by 421.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 64,900 shares of the oil and gas producer’s stock worth $2,509,000 after buying an additional 52,443 shares during the period. Cibc World Markets Corp raised its stake in shares of EQT by 162.4% in the 4th quarter. Cibc World Markets Corp now owns 52,370 shares of the oil and gas producer’s stock valued at $2,025,000 after acquiring an additional 32,409 shares during the period. National Bank of Canada FI lifted its holdings in shares of EQT by 600.0% in the 4th quarter. National Bank of Canada FI now owns 95,871 shares of the oil and gas producer’s stock worth $3,731,000 after acquiring an additional 82,176 shares during the last quarter. Finally, Third Point LLC purchased a new position in shares of EQT during the 4th quarter worth approximately $75,387,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Stock Down 3.4 %

EQT stock traded down $1.11 during trading on Tuesday, hitting $31.15. 10,559,690 shares of the company’s stock were exchanged, compared to its average volume of 7,230,372. The stock has a market capitalization of $13.76 billion, a price-to-earnings ratio of 23.39 and a beta of 1.12. EQT Co. has a 52-week low of $30.02 and a 52-week high of $45.23. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $36.41 and a two-hundred day moving average price of $36.98.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The business had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the business posted ($0.17) EPS. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, equities research analysts expect that EQT Co. will post 1.4 EPS for the current year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a yield of 2.02%. EQT’s dividend payout ratio is presently 45.65%.

Insiders Place Their Bets

In other news, EVP William E. Jordan sold 35,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the completion of the sale, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other EQT news, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the transaction, the executive vice president now directly owns 456,837 shares in the company, valued at $18,602,402.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Lesley Evancho sold 46,884 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the sale, the insider now owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on EQT shares. Scotiabank upped their price target on EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 12th. StockNews.com upgraded EQT to a “sell” rating in a report on Friday, July 26th. Jefferies Financial Group boosted their price target on shares of EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Wolfe Research assumed coverage on shares of EQT in a research note on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price objective for the company. Finally, Mizuho upped their target price on shares of EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.

EQT 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.