Canoe Financial LP Acquires 42,000 Shares of EQT Co. (NYSE:EQT)

Canoe Financial LP raised its holdings in EQT Co. (NYSE:EQT) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,542,000 shares of the oil and gas producer’s stock after acquiring an additional 42,000 shares during the period. EQT comprises 1.7% of Canoe Financial LP’s holdings, making the stock its 21st biggest holding. Canoe Financial LP owned approximately 0.43% of EQT worth $116,750,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. HM Payson & Co. bought a new stake in shares of EQT during the 3rd quarter valued at approximately $25,000. Truvestments Capital LLC bought a new position in EQT in the 3rd quarter valued at approximately $30,000. Hexagon Capital Partners LLC boosted its position in EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 904 shares in the last quarter. Quarry LP grew its stake in shares of EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 578 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of EQT during the third quarter worth $36,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Performance

EQT stock opened at $52.93 on Friday. The firm has a market cap of $31.58 billion, a PE ratio of 63.02 and a beta of 1.12. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average price of $45.83 and a 200-day moving average price of $38.77. EQT Co. has a 1-year low of $30.02 and a 1-year high of $53.98.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts expect that EQT Co. will post 1.44 earnings per share for the current year.

Insider Activity at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares of the company’s stock, valued at $9,038,086.64. The trade was a 13.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.63% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

EQT has been the topic of several recent research reports. Citigroup raised their price objective on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a report on Friday, December 6th. Morgan Stanley lifted their price target on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $55.00 to $54.00 in a research note on Friday. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $48.00 to $57.00 in a research report on Monday, December 16th. Finally, Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

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.