Stoneridge Investment Partners LLC Reduces Stake in EQT Corp. (EQT)
Stoneridge Investment Partners LLC cut its stake in shares of EQT Corp. (NYSE:EQT) by 34.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 26,200 shares of the company’s stock after selling 13,765 shares during the period. Stoneridge Investment Partners LLC’s holdings in EQT Corp. were worth $2,029,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in EQT Corp. during the fourth quarter valued at about $60,141,000. Chevy Chase Trust Holdings Inc. boosted its position in EQT Corp. by 9.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 135,729 shares of the company’s stock valued at $9,129,000 after buying an additional 11,495 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in EQT Corp. by 20.7% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 30,176 shares of the company’s stock valued at $2,030,000 after buying an additional 5,173 shares during the period. Exxonmobil Investment Management Inc. TX boosted its position in EQT Corp. by 13.7% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 38,876 shares of the company’s stock valued at $2,615,000 after buying an additional 4,685 shares during the period. Finally, Raymond James Trust N.A. boosted its position in EQT Corp. by 2.3% in the first quarter. Raymond James Trust N.A. now owns 8,368 shares of the company’s stock valued at $563,000 after buying an additional 189 shares during the period. Institutional investors and hedge funds own 87.73% of the company’s stock.
Shares of EQT Corp. (NYSE:EQT) traded up 1.92% on Wednesday, hitting $74.16. 1,732,842 shares of the stock traded hands. EQT Corp. has a 52 week low of $47.10 and a 52 week high of $80.61. The firm’s market capitalization is $12.81 billion. The firm’s 50 day moving average is $71.16 and its 200 day moving average is $70.91.
EQT Corp. (NYSE:EQT) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.35) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.06. The business had revenue of $127.53 million for the quarter, compared to analyst estimates of $461.53 million. EQT Corp. had a negative net margin of 18.74% and a negative return on equity of 1.27%. The firm’s revenue for the quarter was down 71.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. On average, analysts expect that EQT Corp. will post ($0.62) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Wednesday, August 10th. EQT Corp.’s dividend payout ratio is presently -5.66%.
EQT has been the subject of several recent analyst reports. Deutsche Bank AG cut shares of EQT Corp. from a “buy” rating to a “hold” rating and decreased their price objective for the company from $81.00 to $79.00 in a report on Monday, June 13th. Zacks Investment Research raised shares of EQT Corp. from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research note on Tuesday, July 5th. Howard Weil cut their target price on shares of EQT Corp. from $92.00 to $91.00 and set a “sector outperform” rating for the company in a research note on Friday, July 29th. Barclays PLC increased their target price on shares of EQT Corp. from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. Finally, Citigroup Inc. increased their target price on shares of EQT Corp. from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of C$78.67.
In other news, SVP Randall L. Crawford sold 4,981 shares of the business’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of C$77.21, for a total value of C$384,583.01. Following the sale, the senior vice president now owns 90,723 shares of the company’s stock, valued at C$7,004,722.83. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.
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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