EQT Corp. (EQT) Stake Boosted by Hennessy Advisors Inc.
Hennessy Advisors Inc. increased its stake in shares of EQT Corp. (NYSE:EQT) by 12.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 356,532 shares of the company’s stock after buying an additional 39,000 shares during the period. Hennessy Advisors Inc. owned 0.21% of EQT Corp. worth $25,891,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of EQT. Mizuho Asset Management Co. Ltd. increased 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 last quarter. Independent Portfolio Consultants Inc. bought a new position in EQT Corp. during the third quarter valued at about $182,000. Euclid Advisors LLC bought a new position in EQT Corp. during the second quarter valued at about $183,000. Capital Guardian Trust Co. increased its position in 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 last quarter. Finally, Boston Family Office LLC bought a new position in EQT Corp. during the second quarter valued at about $205,000. 89.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of EQT Corp. (NYSE:EQT) traded down 0.16% on Tuesday, hitting $70.09. 364,981 shares of the company were exchanged. EQT Corp. has a 52-week low of $47.10 and a 52-week high of $80.61. The firm’s market cap is $12.11 billion. The company has a 50-day moving average price of $66.99 and a 200 day moving average price of $71.62.
EQT Corp. (NYSE:EQT) last announced its quarterly earnings data on Thursday, October 27th. The company reported ($0.26) earnings per share for the quarter, topping 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 net margin of 21.61% and a negative return on equity of 1.14%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.33) EPS. Analysts predict that EQT Corp. will post ($0.58) EPS for the current fiscal year.
The business also recently disclosed 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 annualized dividend and a dividend yield of 0.17%. EQT Corp.’s payout ratio is currently -4.92%.
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Several research firms have issued reports on EQT. Howard Weil downgraded shares of EQT Corp. from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $91.00 to $90.00 in a report on Thursday, August 11th. Drexel Hamilton assumed coverage on shares of EQT Corp. in a report on Thursday, November 17th. They set a “buy” rating on the stock. Tudor Pickering downgraded shares of EQT Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, October 13th. Zacks Investment Research downgraded shares of EQT Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, KLR Group reissued a “buy” rating and issued a $95.00 price target (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 given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average 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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