Sound Shore Management Inc. CT Grows Holdings in EQT Co. (EQT)
Sound Shore Management Inc. CT raised its stake in EQT Co. (NYSE:EQT) by 26.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,070,449 shares of the oil and gas producer’s stock after acquiring an additional 849,087 shares during the quarter. EQT accounts for about 3.1% of Sound Shore Management Inc. CT’s portfolio, making the stock its 13th largest position. Sound Shore Management Inc. CT’s holdings in EQT were worth $180,036,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in EQT by 1.0% in the second quarter. BlackRock Inc. now owns 17,965,325 shares of the oil and gas producer’s stock valued at $991,326,000 after purchasing an additional 175,492 shares during the period. Boston Partners raised its position in EQT by 6.8% in the second quarter. Boston Partners now owns 12,929,303 shares of the oil and gas producer’s stock valued at $713,439,000 after purchasing an additional 825,730 shares during the period. American Century Companies Inc. raised its position in EQT by 20.3% in the third quarter. American Century Companies Inc. now owns 5,932,268 shares of the oil and gas producer’s stock valued at $262,384,000 after purchasing an additional 1,002,794 shares during the period. Canyon Capital Advisors LLC raised its position in EQT by 6.7% in the second quarter. Canyon Capital Advisors LLC now owns 5,367,710 shares of the oil and gas producer’s stock valued at $296,190,000 after purchasing an additional 336,710 shares during the period. Finally, Wedge Capital Management L L P NC raised its position in EQT by 17.7% in the third quarter. Wedge Capital Management L L P NC now owns 3,995,504 shares of the oil and gas producer’s stock valued at $176,721,000 after purchasing an additional 601,217 shares during the period. 95.66% of the stock is currently owned by institutional investors.
Several research firms have commented on EQT. Royal Bank of Canada set a $74.00 price objective on EQT and gave the company a “buy” rating in a research report on Thursday, July 19th. Zacks Investment Research reissued a “buy” rating and issued a $35.00 price objective on shares of EQT in a research report on Tuesday. TheStreet upgraded EQT from a “d+” rating to a “c-” rating in a research note on Monday, July 23rd. Wells Fargo & Co restated a “market weight” rating and set a $63.00 target price on shares of EQT in a research note on Wednesday, October 24th. Finally, LADENBURG THALM/SH SH set a $70.00 target price on EQT and gave the company a “buy” rating in a research note on Friday, August 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $56.14.
Shares of EQT stock opened at $34.64 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market cap of $9.13 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 1.04 and a beta of 0.91. EQT Co. has a 1-year low of $30.53 and a 1-year high of $65.82.
EQT (NYSE:EQT) last posted its quarterly earnings results on Thursday, October 25th. The oil and gas producer reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.11 billion. EQT had a positive return on equity of 3.77% and a negative net margin of 6.86%. During the same period last year, the firm earned $0.12 earnings per share. On average, analysts predict that EQT Co. will post 2.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Wednesday, November 21st will be paid a $0.03 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $0.12 dividend on an annualized basis and a yield of 0.35%. EQT’s dividend payout ratio (DPR) is 8.16%.
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EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.
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