EQT Corp. (EQT) Stake Boosted by Hennessy Advisors Inc.
Hennessy Advisors Inc. raised its stake in shares of EQT Corp. (NYSE:EQT) by 12.3% during the third quarter, Holdings Channel reports. The firm owned 356,532 shares of the company’s stock after buying an additional 39,000 shares during the period. Hennessy Advisors Inc.’s holdings in EQT Corp. were worth $25,891,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Mizuho Asset Management Co. Ltd. boosted its position in EQT Corp. by 116.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,280 shares of the company’s stock valued at $177,000 after buying an additional 1,229 shares during the period. Independent Portfolio Consultants Inc. purchased a new position in shares of EQT Corp. during the third quarter valued at about $182,000. Euclid Advisors LLC purchased a new position in shares of EQT Corp. during the second quarter valued at about $183,000. Capital Guardian Trust Co. boosted its position in shares of EQT Corp. by 1,304.3% in the second quarter. Capital Guardian Trust Co. now owns 2,584 shares of the company’s stock valued at $200,000 after buying an additional 2,400 shares during the period. Finally, Boston Family Office LLC purchased a new position in shares of EQT Corp. during the second quarter valued at about $205,000. Institutional investors own 89.09% of the company’s stock.
Shares of EQT Corp. (NYSE:EQT) traded down 0.16% during trading on Tuesday, reaching $70.09. The company had a trading volume of 364,981 shares. EQT Corp. has a 52-week low of $47.10 and a 52-week high of $80.61. The firm’s market capitalization is $12.11 billion. The company has a 50 day moving average of $66.99 and a 200-day moving average of $71.62.
EQT Corp. (NYSE:EQT) last announced its quarterly earnings results on Thursday, October 27th. The company reported ($0.26) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.15. The business had revenue of $502.55 million for the quarter, compared to analyst estimates of $456.55 million. EQT Corp. had a negative return on equity of 1.14% and a negative net margin of 21.61%. EQT Corp.’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.33) EPS. Equities analysts expect that EQT Corp. will post ($0.58) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Tuesday, November 8th. EQT Corp.’s dividend payout ratio is -4.92%.
Several brokerages recently issued reports on EQT. Howard Weil cut EQT Corp. from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $91.00 to $90.00 in a research note on Thursday, August 11th. Drexel Hamilton began coverage on EQT Corp. in a research note on Thursday, November 17th. They set a “buy” rating on the stock. Tudor Pickering cut EQT Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, October 13th. Zacks Investment Research cut EQT Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, KLR Group restated a “buy” rating and set a $95.00 price objective (down from $100.00) on shares of EQT Corp. in a research note on Monday, August 1st. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $78.11.
EQT Corp. Company Profile
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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