Miller Howard Investments Inc. NY reduced its position in shares of EQT Corporation (NYSE:EQT) by 85.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,881 shares of the oil and gas producer’s stock after selling 74,974 shares during the period. Miller Howard Investments Inc. NY’s holdings in EQT Corporation were worth $755,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd purchased a new position in EQT Corporation during the first quarter worth approximately $110,000. Invictus RG purchased a new position in EQT Corporation during the first quarter worth approximately $119,000. Pacer Advisors Inc. raised its position in EQT Corporation by 3.1% in the first quarter. Pacer Advisors Inc. now owns 3,255 shares of the oil and gas producer’s stock worth $199,000 after buying an additional 99 shares during the period. Wetherby Asset Management Inc. purchased a new position in EQT Corporation during the first quarter worth approximately $211,000. Finally, Fisher Asset Management LLC raised its position in EQT Corporation by 7.0% in the first quarter. Fisher Asset Management LLC now owns 3,474 shares of the oil and gas producer’s stock worth $212,000 after buying an additional 226 shares during the period. Institutional investors own 90.45% of the company’s stock.
Shares of EQT Corporation (NYSE EQT) traded up 1.05% during midday trading on Tuesday, hitting $62.31. 457,164 shares of the stock were exchanged. EQT Corporation has a 52-week low of $49.63 and a 52-week high of $75.74. The firm’s 50-day moving average is $59.87 and its 200 day moving average is $59.83. The firm has a market cap of $10.80 billion, a PE ratio of 2225.36 and a beta of 0.77.
EQT Corporation (NYSE:EQT) last posted its earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $631.10 million during the quarter, compared to the consensus estimate of $642.21 million. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. The company’s quarterly revenue was up 720.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.35) EPS. On average, analysts forecast that EQT Corporation will post $0.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.19%. EQT Corporation’s dividend payout ratio is currently 400.13%.
A number of equities analysts have recently commented on EQT shares. Royal Bank Of Canada restated a “buy” rating and issued a $86.00 price objective on shares of EQT Corporation in a research report on Friday, June 2nd. Stifel Nicolaus restated a “buy” rating and issued a $81.00 price objective (up from $63.00) on shares of EQT Corporation in a research report on Tuesday, May 2nd. KLR Group restated a “buy” rating and issued a $102.00 price objective (up from $92.00) on shares of EQT Corporation in a research report on Monday, June 26th. Cowen and Company set a $80.00 price objective on shares of EQT Corporation and gave the company a “buy” rating in a research report on Tuesday, July 18th. Finally, BMO Capital Markets set a $70.00 price objective on shares of EQT Corporation and gave the company a “buy” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. EQT Corporation has a consensus rating of “Buy” and a consensus target price of $80.38.
In other news, Director A. Bray Jr. Cary bought 28,000 shares of the stock in a transaction dated Friday, June 23rd. The stock was purchased at an average cost of $53.55 per share, for a total transaction of $1,499,400.00. Following the transaction, the director now owns 22,627 shares of the company’s stock, valued at $1,211,675.85. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Steven T. Schlotterbeck bought 2,000 shares of the stock in a transaction dated Thursday, June 22nd. The shares were purchased at an average price of $52.14 per share, with a total value of $104,280.00. Following the completion of the transaction, the chief executive officer now directly owns 115,178 shares in the company, valued at approximately $6,005,380.92. The disclosure for this purchase can be found here. Insiders have bought a total of 41,901 shares of company stock valued at $2,211,775 over the last quarter. Corporate insiders own 1.00% of the company’s stock.
About EQT Corporation
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
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