EQT Corporation (NYSE:EQT) Stake Maintained by Jana Partners LLC
Jana Partners LLC
recently disclosed that they own 5.8% of EQT Corporation (NYSE:EQT) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Monday, August 14th. The investor owns 10,134,129 shares of the stock worth $637,740,738. The reporting parties listed on the disclosure included Jana Partners LLC, Jonathan Z Cohen, Daniel C Herz and Edward E Cohen. The disclosure is available through EDGAR at this hyperlink.
Jana Partners LLC
provided the following explanation of their ownership:
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Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asia Hong Kong Ltd acquired a new position in EQT Corporation during the first quarter worth about $110,000. Invictus RG acquired a new position in EQT Corporation during the first quarter worth about $119,000. Pacer Advisors Inc. boosted 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 last quarter. Aureus Asset Management LLC acquired a new position in EQT Corporation during the second quarter worth about $205,000. Finally, Wetherby Asset Management Inc. acquired a new position in EQT Corporation during the first quarter worth about $211,000. 90.07% of the stock is owned by hedge funds and other institutional investors.
EQT Corporation (NYSE EQT) traded down 1.60% during mid-day trading on Monday, reaching $61.92. The company had a trading volume of 1,191,405 shares. EQT Corporation has a one year low of $49.63 and a one year high of $75.74. The company has a market capitalization of $10.73 billion, a P/E ratio of 2211.43 and a beta of 0.77. The stock has a 50 day moving average price of $61.56 and a 200 day moving average price of $59.89.
EQT Corporation (NYSE:EQT) last released its quarterly earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business 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% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) EPS. On average, equities analysts expect that EQT Corporation will post $1.03 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.12 dividend on an annualized basis and a yield of 0.19%. EQT Corporation’s dividend payout ratio (DPR) is currently 400.13%.
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A number of research firms have issued reports on EQT. Royal Bank Of Canada cut EQT Corporation from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $86.00 to $80.00 in a research note on Wednesday, July 5th. Stifel Nicolaus reissued a “buy” rating and issued a $81.00 target price (up from $63.00) on shares of EQT Corporation in a research note on Tuesday, May 2nd. BidaskClub raised EQT Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 16th. Jefferies Group LLC set a $64.00 target price on EQT Corporation and gave the company a “hold” rating in a research note on Wednesday, May 17th. Finally, Scotiabank raised EQT Corporation from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $77.00 to $81.00 in a research note on Friday, July 14th. Two 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 currently has an average rating of “Buy” and an average price target of $79.58.
In related news, insider David E. Jr. Schlosser purchased 10,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was acquired at an average price of $50.96 per share, for a total transaction of $509,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director A. Bray Jr. Cary purchased 28,000 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were bought at an average price of $53.55 per share, with a total value of $1,499,400.00. Following the purchase, the director now directly owns 22,627 shares in the company, valued at approximately $1,211,675.85. The disclosure for this purchase can be found here. Insiders have acquired a total of 41,901 shares of company stock valued at $2,211,775 in the last quarter. Company insiders own 1.00% of the company’s stock.
EQT Corporation Company Profile
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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