Ballentine Partners LLC Acquires 486 Shares of EQT Co. (NYSE:EQT)

Ballentine Partners LLC raised its holdings in shares of EQT Co. (NYSE:EQT) by 8.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,291 shares of the oil and gas producer’s stock after buying an additional 486 shares during the period. Ballentine Partners LLC’s holdings in EQT were worth $233,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EQT. California State Teachers Retirement System increased its holdings in EQT by 3.6% during the 4th quarter. California State Teachers Retirement System now owns 538,463 shares of the oil and gas producer’s stock valued at $20,817,000 after purchasing an additional 18,804 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of EQT by 421.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 64,900 shares of the oil and gas producer’s stock valued at $2,509,000 after acquiring an additional 52,443 shares in the last quarter. Cibc World Markets Corp raised its holdings in shares of EQT by 162.4% during the fourth quarter. Cibc World Markets Corp now owns 52,370 shares of the oil and gas producer’s stock valued at $2,025,000 after acquiring an additional 32,409 shares in the last quarter. Third Point LLC bought a new stake in EQT in the fourth quarter valued at $75,387,000. Finally, Cetera Investment Advisers purchased a new position in EQT during the 1st quarter valued at $2,274,000. 90.81% of the stock is owned by institutional investors.

EQT Price Performance

Shares of NYSE:EQT opened at $32.86 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $14.51 billion, a PE ratio of 23.81 and a beta of 1.06. The firm’s 50 day moving average price is $33.62 and its 200-day moving average price is $36.58. EQT Co. has a twelve month low of $30.02 and a twelve month high of $45.23.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The business had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm earned ($0.17) earnings per share. The company’s quarterly revenue was down 6.5% on a year-over-year basis. Equities research analysts expect that EQT Co. will post 1.43 EPS for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Wednesday, August 7th. EQT’s payout ratio is 45.65%.

Analyst Ratings Changes

Several brokerages have commented on EQT. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, August 14th. Wolfe Research initiated coverage on shares of EQT in a report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price objective for the company. Jefferies Financial Group increased their target price on 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. lowered their target price on EQT from $42.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Scotiabank upped their price target on EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, EQT presently has an average rating of “Hold” and a consensus price target of $44.06.

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.