Canoe Financial LP Has $116.75 Million Stock Holdings in EQT Co. (NYSE:EQT)

Canoe Financial LP grew its holdings in shares of EQT Co. (NYSE:EQT) by 1.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,542,000 shares of the oil and gas producer’s stock after acquiring an additional 42,000 shares during the period. EQT makes up 1.7% of Canoe Financial LP’s investment portfolio, making the stock its 21st largest holding. Canoe Financial LP’s holdings in EQT were worth $116,750,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. HM Payson & Co. acquired a new position in EQT during the 3rd quarter valued at about $25,000. Truvestments Capital LLC bought a new position in shares of EQT in the third quarter valued at approximately $30,000. Hexagon Capital Partners LLC boosted its position in shares of EQT by 18,080.0% during 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 during the last quarter. Quarry LP grew its holdings in 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 in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new stake in EQT during the third quarter worth $36,000. 90.81% of the stock is owned by institutional investors.

Insider Activity at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the transaction, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Mizuho raised shares of EQT from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $48.00 to $57.00 in a report on Monday, December 16th. UBS Group boosted their price target on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a research report on Wednesday. Citigroup lifted their target price on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.89.

EQT Trading Down 1.6 %

Shares of EQT opened at $52.93 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. EQT Co. has a 1-year low of $30.02 and a 1-year high of $53.98. The company has a market capitalization of $31.58 billion, a P/E ratio of 63.02 and a beta of 1.12. The firm’s 50 day simple moving average is $45.83 and its 200 day simple moving average is $38.77.

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

EQT Company 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.