Adage Capital Partners GP L.L.C. Purchases 14,270 Shares of EQT Corp. (EQT)
Adage Capital Partners GP L.L.C. boosted its position in shares of EQT Corp. (NYSE:EQT) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,213,851 shares of the company’s stock after buying an additional 14,270 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.70% of EQT Corp. worth $93,988,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Mizuho Asset Management Co. Ltd. raised its position in shares of EQT Corp. by 116.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,280 shares of the company’s stock worth $177,000 after buying an additional 1,229 shares during the last quarter. Boston Family Office LLC bought a new position in EQT Corp. during the second quarter valued at about $205,000. WMS Partners LLC bought a new position in EQT Corp. during the second quarter valued at about $209,000. Everence Capital Management Inc. bought a new position in EQT Corp. during the second quarter valued at about $217,000. Finally, Eqis Capital Management Inc. bought a new position in EQT Corp. during the second quarter valued at about $222,000. Institutional investors and hedge funds own 87.92% of the company’s stock.
Shares of EQT Corp. (NYSE:EQT) traded down 0.09% during trading on Friday, reaching $65.70. The company’s stock had a trading volume of 1,968,374 shares. EQT Corp. has a 12 month low of $47.10 and a 12 month high of $80.61. The company’s 50 day moving average price is $67.95 and its 200 day moving average price is $71.64. The firm’s market cap is $11.35 billion.
EQT Corp. (NYSE:EQT) last posted its quarterly earnings results on Thursday, October 27th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.15. EQT Corp. had a negative return on equity of 1.14% and a negative net margin of 21.61%. The company earned $502.55 million during the quarter, compared to analysts’ expectations of $456.55 million. During the same quarter in the previous year, the firm earned ($0.33) EPS. EQT Corp.’s revenue was down 4.7% on a year-over-year basis. On average, equities analysts predict that EQT Corp. will post ($0.56) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. EQT Corp.’s dividend payout ratio (DPR) is currently -4.92%.
EQT has been the subject of several recent analyst reports. Stifel Nicolaus upgraded EQT Corp. from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Friday, August 26th. Credit Suisse Group AG initiated coverage on EQT Corp. in a research note on Monday, October 24th. They set an “outperform” rating and a $86.00 price objective for the company. Zacks Investment Research upgraded EQT Corp. from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Monday, October 17th. GMP Securities initiated coverage on EQT Corp. in a research note on Wednesday, September 28th. They set a “buy” rating and a $92.00 price objective for the company. Finally, Tudor Pickering lowered EQT Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, October 13th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of C$77.84.
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.
Receive News & Stock Ratings for EQT Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT Corp. and related stocks with our FREE daily email newsletter.