Mediolanum International Funds Ltd Purchases New Shares in EQT Co. (NYSE:EQT)

Mediolanum International Funds Ltd acquired a new position in shares of EQT Co. (NYSE:EQT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,362 shares of the oil and gas producer’s stock, valued at approximately $121,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Easterly Investment Partners LLC increased its position in shares of EQT by 29.3% during the 1st quarter. Easterly Investment Partners LLC now owns 111,556 shares of the oil and gas producer’s stock valued at $4,135,000 after purchasing an additional 25,306 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in EQT by 19.5% during the first quarter. Nikko Asset Management Americas Inc. now owns 23,906 shares of the oil and gas producer’s stock worth $886,000 after buying an additional 3,899 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in EQT by 5.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 134,775 shares of the oil and gas producer’s stock worth $4,995,000 after acquiring an additional 6,750 shares during the period. Whittier Trust Co. boosted its stake in EQT by 4.1% in the first quarter. Whittier Trust Co. now owns 252,078 shares of the oil and gas producer’s stock valued at $9,342,000 after acquiring an additional 9,904 shares during the last quarter. Finally, Blume Capital Management Inc. bought a new position in shares of EQT during the 1st quarter valued at approximately $392,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Trading Up 0.2 %

EQT stock traded up $0.09 during mid-day trading on Wednesday, hitting $36.63. The company’s stock had a trading volume of 3,775,791 shares, compared to its average volume of 6,499,478. The business has a 50 day moving average price of $39.46 and a 200-day moving average price of $37.55. EQT Co. has a 12 month low of $32.07 and a 12 month high of $45.23. The stock has a market cap of $16.18 billion, a price-to-earnings ratio of 26.49 and a beta of 1.12. 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:EQT) last released its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the firm posted $1.70 earnings per share. The business’s quarterly revenue was down 28.8% compared to the same quarter last year. As a group, analysts forecast that EQT Co. will post 1.06 EPS for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 8th were paid a $0.1575 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.72%. EQT’s payout ratio is presently 45.65%.

Insider Activity at EQT

In other news, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the sale, the insider now directly owns 160,884 shares in the company, valued at approximately $6,642,900.36. The sale was disclosed in a filing with the SEC, which is available through this link. In other EQT news, EVP William E. Jordan sold 35,000 shares of the firm’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 directly owns 456,837 shares in the company, valued at $18,602,402.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lesley Evancho sold 46,884 shares of the company’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 value of $1,935,840.36. Following the transaction, the insider now owns 160,884 shares in the company, valued at approximately $6,642,900.36. The disclosure for this sale can be found here. 0.63% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on EQT. TD Cowen assumed coverage on EQT in a research note on Friday, April 19th. They issued a “hold” rating and a $43.00 price objective on the stock. Mizuho lifted their price objective on EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Wells Fargo & Company downgraded shares of EQT from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $48.00 to $37.00 in a report on Wednesday, April 17th. The Goldman Sachs Group reduced their target price on shares of EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Finally, Stephens upped their price target on shares of EQT from $46.00 to $47.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.24.

EQT Profile

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.