Wedge Capital Management L L P NC Acquires 181,277 Shares of EQT Corporation (NYSE:EQT)

Wedge Capital Management L L P NC raised its stake in shares of EQT Corporation (NYSE:EQT) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,142,162 shares of the oil and gas producer’s stock after buying an additional 181,277 shares during the period. EQT Corporation accounts for 1.8% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 2nd largest position. Wedge Capital Management L L P NC owned 1.81% of EQT Corporation worth $184,099,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EQT. Waldron LP raised its position in EQT Corporation by 43.3% in the first quarter. Waldron LP now owns 5,541 shares of the oil and gas producer’s stock valued at $338,000 after buying an additional 1,673 shares during the period. Sippican Capital Advisors raised its position in EQT Corporation by 34.0% in the first quarter. Sippican Capital Advisors now owns 19,998 shares of the oil and gas producer’s stock valued at $1,222,000 after buying an additional 5,072 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in EQT Corporation by 3.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,593 shares of the oil and gas producer’s stock valued at $262,000 after buying an additional 165 shares during the period. Nationwide Fund Advisors raised its position in EQT Corporation by 32.1% in the first quarter. Nationwide Fund Advisors now owns 560,666 shares of the oil and gas producer’s stock valued at $34,257,000 after buying an additional 136,081 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its position in EQT Corporation by 16.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 66,963 shares of the oil and gas producer’s stock valued at $4,092,000 after buying an additional 9,233 shares during the period. Institutional investors and hedge funds own 90.45% of the company’s stock.

EQT Corporation (NYSE:EQT) opened at 62.07 on Friday. EQT Corporation has a 1-year low of $49.63 and a 1-year high of $75.74. The stock has a market cap of $10.76 billion, a P/E ratio of 2216.79 and a beta of 0.77. The company has a 50-day moving average of $61.25 and a 200 day moving average of $59.89.

EQT Corporation (NYSE:EQT) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. The company had revenue of $631.10 million for the quarter, compared to analyst estimates of $642.21 million. EQT Corporation had a net margin of 0.20% and a return on equity of 0.91%. The business’s revenue for the quarter was up 720.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) earnings per share. Analysts predict that EQT Corporation will post $1.03 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.19%. EQT Corporation’s payout ratio is 400.13%.

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Several equities analysts have commented on the stock. BMO Capital Markets set a $70.00 price objective on shares of EQT Corporation and gave the company a “buy” rating in a research report on Friday, July 28th. Royal Bank Of Canada set a $79.00 price objective on shares of EQT Corporation and gave the company a “hold” rating in a research report on Friday, July 28th. KLR Group reiterated a “buy” rating and set a $102.00 price objective (up previously from $101.00) on shares of EQT Corporation in a research report on Sunday, July 30th. Scotiabank set a $82.00 price objective on shares of EQT Corporation and gave the company a “hold” rating in a research report on Saturday, April 22nd. Finally, Cowen and Company set a $80.00 price objective on shares of EQT Corporation and gave the company a “buy” rating in a research report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. EQT Corporation has a consensus rating of “Buy” and a consensus target price of $80.38.

In related news, Director A. Bray Jr. Cary purchased 28,000 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were bought at an average cost of $53.55 per share, for a total transaction of $1,499,400.00. Following the completion of the purchase, the director now directly owns 22,627 shares of the company’s stock, valued at approximately $1,211,675.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David E. Jr. Schlosser purchased 10,000 shares of the company’s stock in a transaction on Thursday, June 22nd. The stock was bought at an average price of $50.96 per share, for a total transaction of $509,600.00. The disclosure for this purchase can be found here. Insiders have purchased 41,901 shares of company stock worth $2,211,775 over the last 90 days. Insiders own 1.00% of the company’s stock.

About EQT Corporation

EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.

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Institutional Ownership by Quarter for EQT Corporation (NYSE:EQT)

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