Rhumbline Advisers Increases Position in EQT Corporation $EQT

Rhumbline Advisers increased its position in shares of EQT Corporation (NYSE:EQT) by 4.7% during the third quarter, Holdings Channel reports. The fund owned 1,108,307 shares of the oil and gas producer’s stock after acquiring an additional 49,714 shares during the quarter. Rhumbline Advisers’ holdings in EQT were worth $60,325,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. lifted its stake in shares of EQT by 8,000.9% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 153,431 shares of the oil and gas producer’s stock worth $8,351,000 after purchasing an additional 151,537 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in EQT by 116.4% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 534,485 shares of the oil and gas producer’s stock valued at $29,092,000 after purchasing an additional 287,538 shares during the last quarter. First American Bank acquired a new position in EQT in the third quarter valued at $1,915,000. Whittier Trust Co. lifted its position in EQT by 2.6% during the second quarter. Whittier Trust Co. now owns 302,900 shares of the oil and gas producer’s stock worth $17,662,000 after buying an additional 7,647 shares during the period. Finally, Adams Natural Resources Fund Inc. lifted its position in EQT by 97.1% during the third quarter. Adams Natural Resources Fund Inc. now owns 220,500 shares of the oil and gas producer’s stock worth $12,002,000 after buying an additional 108,600 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on EQT. Citigroup lowered their price target on EQT from $63.00 to $62.00 and set a “buy” rating for the company in a report on Friday, December 19th. Mizuho raised their target price on shares of EQT from $60.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. BMO Capital Markets dropped their price target on shares of EQT from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, January 12th. Wells Fargo & Company cut their price target on shares of EQT from $68.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, October 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of EQT in a research note on Monday, December 29th. Nineteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.27.

EQT Stock Up 0.6%

EQT opened at $57.26 on Friday. EQT Corporation has a 1 year low of $43.57 and a 1 year high of $62.23. The firm has a 50 day moving average price of $54.54 and a 200 day moving average price of $54.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market cap of $35.73 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 0.47 and a beta of 0.74.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, February 17th. EQT’s dividend payout ratio (DPR) is currently 22.60%.

EQT Company Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.