Northern Trust Corp Boosts Stock Holdings in EQT Co. (NYSE:EQT)

Northern Trust Corp grew its position in shares of EQT Co. (NYSE:EQTFree Report) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,981,749 shares of the oil and gas producer’s stock after buying an additional 324,411 shares during the quarter. Northern Trust Corp owned 0.97% of EQT worth $153,934,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC purchased a new stake in EQT in the fourth quarter worth approximately $30,000. BKM Wealth Management LLC purchased a new stake in EQT in the fourth quarter worth approximately $40,000. Principal Securities Inc. purchased a new stake in EQT in the fourth quarter worth approximately $51,000. Massmutual Trust Co. FSB ADV boosted its holdings in EQT by 52.6% in 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, CX Institutional purchased a new stake in EQT in the fourth quarter worth approximately $64,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Trading Up 1.5 %

Shares of EQT opened at $41.13 on Tuesday. EQT Co. has a 1-year low of $32.07 and a 1-year high of $45.23. The company has a 50-day moving average of $39.38 and a 200 day moving average of $37.64. The firm has a market capitalization of $18.16 billion, a price-to-earnings ratio of 29.80 and a beta of 1.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.88.

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

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th were issued a $0.1575 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.53%. EQT’s dividend payout ratio is currently 45.65%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EQT. Sanford C. Bernstein upgraded shares of EQT from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $27.00 to $34.00 in a report on Wednesday, April 10th. Stephens increased their price target on shares of EQT from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. Jefferies Financial Group increased their price target on shares of EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $37.00 price target (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Finally, BMO Capital Markets increased their price target on shares of EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $45.24.

View Our Latest Report on EQT

Insider Activity

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

About EQT

(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.

See Also

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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