EQT Co. (NYSE:EQT) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in shares of EQT Co. (NYSE:EQT) by 45.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,353 shares of the oil and gas producer’s stock after purchasing an additional 27,147 shares during the quarter. CIBC Asset Management Inc’s holdings in EQT were worth $3,164,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EQT. Price T Rowe Associates Inc. MD grew its stake in EQT by 22.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after acquiring an additional 11,993,729 shares in the last quarter. Vanguard Group Inc. grew its position in shares of EQT by 8.4% in the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after purchasing an additional 3,942,802 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of EQT by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock valued at $752,487,000 after purchasing an additional 464,781 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in shares of EQT in the third quarter valued at approximately $562,494,000. Finally, Clearbridge Investments LLC lifted its position in EQT by 2.9% during the second quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after buying an additional 253,186 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Price Performance

EQT stock opened at $44.28 on Tuesday. The company’s 50 day moving average is $36.91 and its two-hundred day moving average is $36.77. The firm has a market cap of $26.42 billion, a PE ratio of 52.71 and a beta of 1.06. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a 52-week low of $30.02 and a 52-week high of $44.62.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the business posted $0.30 earnings per share. EQT’s revenue was up 8.2% compared to the same quarter last year. On average, research analysts expect that EQT Co. will post 1.28 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be paid a dividend of $0.1575 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.42%. EQT’s payout ratio is 75.00%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Stephens raised their target price on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $44.00 in a research note on Thursday, October 3rd. StockNews.com raised shares of EQT to a “sell” rating in a research note on Friday, July 26th. UBS Group lifted their price target on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $45.00 price objective on shares of EQT in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, EQT has a consensus rating of “Moderate Buy” and a consensus price target of $42.83.

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.