University of Notre Dame DU Lac acquired a new stake in shares of EQT Co. (NYSE:EQT) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 180,686 shares of the oil and gas producer’s stock, valued at approximately $7,992,000.
Several other institutional investors have also recently made changes to their positions in EQT. Cerebellum GP LLC increased its position in shares of EQT by 71.4% during the 3rd quarter. Cerebellum GP LLC now owns 3,488 shares of the oil and gas producer’s stock valued at $154,000 after purchasing an additional 1,453 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of EQT during the 2nd quarter valued at about $163,000. Dupont Capital Management Corp increased its position in shares of EQT by 48.7% during the 2nd quarter. Dupont Capital Management Corp now owns 3,876 shares of the oil and gas producer’s stock valued at $214,000 after purchasing an additional 1,270 shares during the last quarter. MML Investors Services LLC bought a new position in shares of EQT during the 3rd quarter valued at about $218,000. Finally, Segall Bryant & Hamill LLC bought a new position in shares of EQT during the 2nd quarter valued at about $222,000. Hedge funds and other institutional investors own 96.52% of the company’s stock.
In other EQT news, Director Philip G. Behrman acquired 20,000 shares of the company’s stock in a transaction on Friday, November 16th. The stock was acquired at an average price of $16.51 per share, for a total transaction of $330,200.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $330,200. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert Joseph Mcnally acquired 8,700 shares of the company’s stock in a transaction on Friday, November 16th. The stock was acquired at an average price of $16.69 per share, with a total value of $145,203.00. Following the acquisition, the chief executive officer now owns 56,415 shares in the company, valued at approximately $941,566.35. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 94,269 shares of company stock valued at $2,311,332. Company insiders own 0.68% of the company’s stock.
EQT (NYSE:EQT) last released its quarterly earnings data on Thursday, October 25th. The oil and gas producer reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. EQT had a positive return on equity of 3.77% and a negative net margin of 6.86%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the business posted $0.12 EPS. As a group, sell-side analysts anticipate that EQT Co. will post 2.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Wednesday, November 21st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.64%. The ex-dividend date was Tuesday, November 20th. EQT’s dividend payout ratio (DPR) is currently 8.16%.
EQT has been the topic of several recent research reports. Morgan Stanley reduced their price target on EQT from $54.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, September 26th. Jefferies Financial Group set a $39.00 price target on EQT and gave the stock a “hold” rating in a research report on Sunday, October 28th. Royal Bank of Canada set a $53.00 price target on EQT and gave the stock a “buy” rating in a research report on Saturday, October 27th. Goldman Sachs Group upgraded EQT from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, November 20th. Finally, Zacks Investment Research restated a “buy” rating and set a $35.00 price target on shares of EQT in a research report on Tuesday, November 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $41.00.
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EQT Company Profile
EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.
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