CIBC Asset Management Inc Acquires 3,403 Shares of EQT Co. (NYSE:EQT)

CIBC Asset Management Inc raised its holdings in EQT Co. (NYSE:EQTFree Report) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,308 shares of the oil and gas producer’s stock after acquiring an additional 3,403 shares during the period. CIBC Asset Management Inc’s holdings in EQT were worth $2,100,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Huntington National Bank grew its position in EQT by 20.0% in the third quarter. Huntington National Bank now owns 1,792 shares of the oil and gas producer’s stock valued at $73,000 after acquiring an additional 299 shares during the last quarter. UniSuper Management Pty Ltd grew its holdings in shares of EQT by 13.0% during the third quarter. UniSuper Management Pty Ltd now owns 2,600 shares of the oil and gas producer’s stock worth $106,000 after purchasing an additional 300 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in shares of EQT by 2.1% during the fourth quarter. Perigon Wealth Management LLC now owns 14,471 shares of the oil and gas producer’s stock worth $559,000 after purchasing an additional 303 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of EQT by 52.6% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer’s stock worth $60,000 after purchasing an additional 539 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of EQT by 8.2% during the fourth quarter. Fifth Third Bancorp now owns 7,964 shares of the oil and gas producer’s stock worth $308,000 after purchasing an additional 601 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Insider Activity

In other news, insider Lesley Evancho sold 46,884 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the completion of the sale, the insider now owns 160,884 shares in the company, valued at $6,642,900.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Lesley Evancho sold 46,884 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the completion of the sale, the insider now owns 160,884 shares in the company, valued at $6,642,900.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the sale, the executive vice president now owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Mizuho boosted their price target on EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Sanford C. Bernstein upgraded EQT from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $27.00 to $34.00 in a report on Wednesday, April 10th. Wells Fargo & Company cut EQT from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $48.00 to $37.00 in a report on Wednesday, April 17th. Scotiabank boosted their price target on EQT from $52.00 to $54.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 9th. Finally, Morgan Stanley lifted their price objective on EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $45.24.

Check Out Our Latest Stock Report on EQT

EQT Price Performance

Shares of EQT opened at $40.53 on Friday. EQT Co. has a 52-week low of $32.07 and a 52-week high of $45.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50 day moving average price is $39.30 and its two-hundred day moving average price is $37.67. The firm has a market cap of $17.90 billion, a PE ratio of 29.37 and a beta of 1.06.

EQT (NYSE:EQTGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the firm earned $1.70 earnings per share. The company’s revenue was down 28.8% compared to the same quarter last year. On average, equities analysts anticipate that EQT Co. will post 1.03 EPS for the current year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th were issued a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.55%. EQT’s dividend payout ratio is 45.65%.

EQT Profile

(Free Report)

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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