Cambridge Investment Research Advisors Inc. cut its holdings in EQT Co. (NYSE:EQT – Get Rating) by 38.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 71,658 shares of the oil and gas producer’s stock after selling 45,557 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in EQT were worth $2,424,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Oppenheimer & Co. Inc. grew its position in shares of EQT by 97.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 9,996 shares of the oil and gas producer’s stock valued at $338,000 after purchasing an additional 4,936 shares during the period. Arizona State Retirement System grew its position in shares of EQT by 3.2% in the 4th quarter. Arizona State Retirement System now owns 94,247 shares of the oil and gas producer’s stock valued at $3,188,000 after purchasing an additional 2,931 shares during the period. Toronto Dominion Bank boosted its position in EQT by 9.2% during the 4th quarter. Toronto Dominion Bank now owns 323,885 shares of the oil and gas producer’s stock worth $10,950,000 after acquiring an additional 27,419 shares during the last quarter. AlphaCentric Advisors LLC acquired a new position in EQT during the 4th quarter worth approximately $231,000. Finally, Commonwealth Equity Services LLC boosted its position in EQT by 2.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,504 shares of the oil and gas producer’s stock worth $964,000 after acquiring an additional 709 shares during the last quarter. 97.60% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
EQT has been the subject of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 price target on shares of EQT in a research report on Tuesday, March 7th. Morgan Stanley reduced their price target on EQT from $42.00 to $37.00 and set an “overweight” rating for the company in a research report on Monday, March 27th. Wells Fargo & Company reduced their price target on EQT from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Tuesday, April 11th. UBS Group started coverage on EQT in a research report on Wednesday, April 19th. They set a “neutral” rating and a $36.00 price target for the company. Finally, Mizuho cut their price objective on EQT from $62.00 to $48.00 in a report on Friday, March 10th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.35.
EQT Stock Up 4.9 %
EQT (NYSE:EQT – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The oil and gas producer reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.38. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.77 billion. EQT had a return on equity of 15.17% and a net margin of 41.96%. The company’s quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 EPS. On average, equities analysts anticipate that EQT Co. will post 2.65 earnings per share for the current year.
EQT Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Wednesday, May 10th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, May 9th. EQT’s dividend payout ratio (DPR) is currently 5.33%.
EQT Corp. is a natural gas production company, which engages in the supply, transmission, and distribution of natural gas. The company was founded in 1888 and is headquartered in Pittsburgh, PA.
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