Pinebridge Investments L.P. purchased a new position in shares of EQT Corporation (NYSE:EQT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,621 shares of the oil and gas producer’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cleararc Capital Inc. raised its position in shares of EQT Corporation by 0.9% during the first quarter. Cleararc Capital Inc. now owns 4,248 shares of the oil and gas producer’s stock worth $260,000 after purchasing an additional 37 shares during the period. Mutual of America Capital Management LLC raised its position in shares of EQT Corporation by 0.3% during the first quarter. Mutual of America Capital Management LLC now owns 21,438 shares of the oil and gas producer’s stock worth $1,310,000 after purchasing an additional 58 shares during the period. Cadence Capital Management LLC raised its position in shares of EQT Corporation by 1.1% during the first quarter. Cadence Capital Management LLC now owns 6,037 shares of the oil and gas producer’s stock worth $369,000 after purchasing an additional 64 shares during the period. Pacer Advisors Inc. raised its position in shares of EQT Corporation by 3.1% during the first quarter. Pacer Advisors Inc. now owns 3,255 shares of the oil and gas producer’s stock worth $199,000 after purchasing an additional 99 shares during the period. Finally, Utah Retirement Systems raised its position in shares of EQT Corporation by 0.3% during the first quarter. Utah Retirement Systems now owns 31,508 shares of the oil and gas producer’s stock worth $1,926,000 after purchasing an additional 100 shares during the period. 90.55% of the stock is currently owned by institutional investors.

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EQT has been the topic of a number of research analyst reports. Cowen and Company reaffirmed a “buy” rating and set a $80.00 price target on shares of EQT Corporation in a research report on Tuesday, September 12th. Scotiabank set a $79.00 price target on EQT Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $75.00 price target on shares of EQT Corporation in a research report on Friday, September 1st. BidaskClub raised EQT Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, June 16th. Finally, Royal Bank Of Canada set a $79.00 price target on EQT Corporation and gave the stock a “hold” rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. EQT Corporation presently has an average rating of “Buy” and an average target price of $80.09.

EQT Corporation (NYSE:EQT) opened at 64.21 on Thursday. The firm has a 50-day moving average price of $62.85 and a 200-day moving average price of $60.30. The company has a market capitalization of $11.13 billion, a P/E ratio of 2293.21 and a beta of 0.77. EQT Corporation has a 1-year low of $49.63 and a 1-year high of $75.74.

EQT Corporation (NYSE:EQT) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $631.10 million during the quarter, compared to the consensus estimate of $642.21 million. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. The company’s quarterly revenue was up 720.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.35) earnings per share. On average, analysts forecast that EQT Corporation will post $0.91 EPS for the current fiscal year.

In related news, Director A. Bray Jr. Cary acquired 406 shares of the stock in a transaction dated Monday, October 2nd. The stock was purchased at an average cost of $65.24 per share, with a total value of $26,487.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

EQT Corporation 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.

Institutional Ownership by Quarter for EQT Corporation (NYSE:EQT)

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