Nationwide Fund Advisors Sells 78,391 Shares of EQT Corporation (EQT)
Nationwide Fund Advisors decreased its holdings in EQT Corporation (NYSE:EQT) by 14.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 483,176 shares of the oil and gas producer’s stock after selling 78,391 shares during the period. Nationwide Fund Advisors owned approximately 0.28% of EQT Corporation worth $31,522,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Aureus Asset Management LLC acquired a new stake in shares of EQT Corporation during the 2nd quarter worth approximately $205,000. Pinebridge Investments L.P. purchased a new position in shares of EQT Corporation during the 2nd quarter worth approximately $212,000. IFP Advisors Inc boosted its position in shares of EQT Corporation by 6.4% during the 2nd quarter. IFP Advisors Inc now owns 4,108 shares of the oil and gas producer’s stock worth $241,000 after purchasing an additional 247 shares during the period. D.A. Davidson & CO. boosted its position in shares of EQT Corporation by 14.2% during the 2nd quarter. D.A. Davidson & CO. now owns 5,801 shares of the oil and gas producer’s stock worth $339,000 after purchasing an additional 721 shares during the period. Finally, Everence Capital Management Inc. boosted its position in shares of EQT Corporation by 45.0% during the 2nd quarter. Everence Capital Management Inc. now owns 9,158 shares of the oil and gas producer’s stock worth $537,000 after purchasing an additional 2,840 shares during the period. Institutional investors own 99.97% of the company’s stock.
In other news, Director A. Bray Jr. Cary acquired 406 shares of EQT Corporation stock in a transaction dated Monday, October 2nd. The shares were acquired at an average cost of $65.24 per share, for a total transaction of $26,487.44. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman David L. Porges sold 53,760 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $59.14, for a total transaction of $3,179,366.40. Following the completion of the sale, the chairman now owns 438,601 shares in the company, valued at $25,938,863.14. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.
EQT Corporation (NYSE EQT) opened at $57.65 on Friday. EQT Corporation has a 1 year low of $49.63 and a 1 year high of $75.74. The company has a market cap of $10,113.55, a P/E ratio of 66.87, a price-to-earnings-growth ratio of 4.33 and a beta of 0.79. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.60 and a quick ratio of 0.60.
EQT Corporation (NYSE:EQT) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.17. EQT Corporation had a net margin of 1.39% and a return on equity of 1.61%. The business had revenue of $660.30 million for the quarter, compared to analyst estimates of $667.05 million. During the same period last year, the business earned ($0.26) EPS. The company’s revenue was up 18.6% on a year-over-year basis. equities research analysts forecast that EQT Corporation will post 0.9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be issued a $0.03 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.21%. EQT Corporation’s payout ratio is 57.15%.
A number of research firms recently weighed in on EQT. TheStreet raised shares of EQT Corporation from a “d+” rating to a “c-” rating in a research report on Monday, August 14th. Seaport Global Securities raised shares of EQT Corporation from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $57.00 to $79.00 in a research report on Tuesday, September 26th. BidaskClub cut shares of EQT Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Cowen Inc reaffirmed a “buy” rating and set a $80.00 price objective on shares of EQT Corporation in a research report on Tuesday, September 12th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $75.00 price objective on shares of EQT Corporation in a research report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $78.09.
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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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