Chevy Chase Trust Holdings Inc. Sells 3,410 Shares of EQT Corp. (EQT)
Chevy Chase Trust Holdings Inc. reduced its stake in EQT Corp. (NYSE:EQT) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,151 shares of the company’s stock after selling 3,410 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.08% of EQT Corp. worth $10,541,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Private Wealth LLC raised its position in shares of EQT Corp. by 2,045.2% in the second quarter. Boston Private Wealth LLC now owns 143,152 shares of the company’s stock valued at $11,084,000 after buying an additional 136,479 shares during the period. Oakbrook Investments LLC raised its position in shares of EQT Corp. by 25.2% in the second quarter. Oakbrook Investments LLC now owns 11,415 shares of the company’s stock valued at $884,000 after buying an additional 2,300 shares during the period. Artemis Investment Management LLP acquired a new position in shares of EQT Corp. during the second quarter valued at about $16,265,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of EQT Corp. by 75.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,250 shares of the company’s stock valued at $1,491,000 after buying an additional 8,300 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of EQT Corp. by 2.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 83,884 shares of the company’s stock valued at $5,642,000 after buying an additional 1,852 shares during the period. Institutional investors own 88.18% of the company’s stock.
Shares of EQT Corp. (NYSE:EQT) traded down 1.47% during midday trading on Friday, hitting $70.14. 459,367 shares of the stock were exchanged. The stock has a 50 day moving average price of $67.06 and a 200-day moving average price of $71.61. The company’s market cap is $12.12 billion. EQT Corp. has a 12 month low of $47.10 and a 12 month high of $80.61.
EQT Corp. (NYSE:EQT) last posted its quarterly earnings data on Thursday, October 27th. The company reported ($0.26) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.15. The firm earned $502.55 million during the quarter, compared to analysts’ expectations of $456.55 million. EQT Corp. had a negative net margin of 21.61% and a negative return on equity of 1.14%. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.33) EPS. On average, analysts predict that EQT Corp. will post ($0.58) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be given 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 0.17%. EQT Corp.’s payout ratio is currently -4.92%.
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Several brokerages have issued reports on EQT. Drexel Hamilton began coverage on EQT Corp. in a research report on Thursday, November 17th. They set a “buy” rating for the company. Citigroup Inc. upgraded EQT Corp. from a “neutral” rating to a “buy” rating in a research report on Friday, October 28th. Credit Suisse Group AG began coverage on EQT Corp. in a research report on Monday, October 24th. They set an “outperform” rating and a $86.00 target price for the company. Jefferies Group set a $75.00 target price on EQT Corp. and gave the company a “hold” rating in a research report on Tuesday, October 18th. Finally, Zacks Investment Research lowered EQT Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, October 18th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target 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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