American International Group Inc. Reduces Holdings in EQT Co. (EQT)

American International Group Inc. trimmed its position in shares of EQT Co. (NYSE:EQT) by 2.0% during the 1st quarter, HoldingsChannel reports. The firm owned 508,160 shares of the oil and gas producer’s stock after selling 10,455 shares during the quarter. American International Group Inc.’s holdings in EQT were worth $10,539,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EQT. Legal & General Group Plc lifted its holdings in shares of EQT by 1.7% during the third quarter. Legal & General Group Plc now owns 1,123,196 shares of the oil and gas producer’s stock worth $49,679,000 after purchasing an additional 18,816 shares during the period. Vanguard Group Inc lifted its holdings in shares of EQT by 2.5% during the third quarter. Vanguard Group Inc now owns 28,073,288 shares of the oil and gas producer’s stock worth $1,241,682,000 after purchasing an additional 687,779 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of EQT by 338.3% during the fourth quarter. Louisiana State Employees Retirement System now owns 67,500 shares of the oil and gas producer’s stock worth $1,275,000 after purchasing an additional 52,100 shares during the period. Virtu Financial LLC lifted its holdings in shares of EQT by 56.8% during the fourth quarter. Virtu Financial LLC now owns 12,458 shares of the oil and gas producer’s stock worth $235,000 after purchasing an additional 4,513 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of EQT by 158.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 152,559 shares of the oil and gas producer’s stock worth $2,882,000 after purchasing an additional 93,441 shares during the period. Hedge funds and other institutional investors own 96.49% of the company’s stock.

Shares of NYSE:EQT opened at $20.81 on Friday. EQT Co. has a 12-month low of $16.29 and a 12-month high of $31.28. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.48 and a beta of 0.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.63 and a quick ratio of 0.63.

EQT (NYSE:EQT) last announced its earnings results on Thursday, April 25th. The oil and gas producer reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.11. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.17 billion. EQT had a positive return on equity of 4.51% and a negative net margin of 10.17%. The business’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 EPS. On average, sell-side analysts anticipate that EQT Co. will post 1.42 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, May 14th. EQT’s payout ratio is 7.06%.

A number of equities research analysts recently commented on EQT shares. Credit Suisse Group reaffirmed a “buy” rating and set a $24.00 target price on shares of EQT in a report on Tuesday, January 22nd. Jefferies Financial Group reissued a “hold” rating and issued a $21.00 price target on shares of EQT in a report on Tuesday, January 29th. TD Securities boosted their price target on EQT from $21.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, February 20th. Cowen started coverage on EQT in a report on Tuesday, April 9th. They issued a “market perform” rating and a $24.00 price target for the company. Finally, MKM Partners reissued a “neutral” rating and issued a $23.00 price target on shares of EQT in a report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. EQT currently has an average rating of “Hold” and an average target price of $37.33.

In other EQT news, CEO Robert Joseph Mcnally bought 1,496 shares of EQT stock in a transaction dated Tuesday, February 19th. The stock was acquired at an average cost of $19.10 per share, with a total value of $28,573.60. Following the purchase, the chief executive officer now directly owns 180,245 shares in the company, valued at approximately $3,442,679.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Jonathan M. Lushko bought 7,903 shares of EQT stock in a transaction dated Tuesday, February 19th. The shares were acquired at an average cost of $19.04 per share, with a total value of $150,473.12. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 59,459 shares of company stock valued at $1,177,466. Corporate insiders own 0.68% of the company’s stock.

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EQT Profile

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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