Ladenburg Thalmann Financial Services Inc. reduced its position in EQT Co. (NYSE:EQT) by 22.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,878 shares of the oil and gas producer’s stock after selling 4,854 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in EQT were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of EQT. Invesco Ltd. lifted its holdings in shares of EQT by 158.6% in the second quarter. Invesco Ltd. now owns 742,207 shares of the oil and gas producer’s stock worth $11,734,000 after buying an additional 455,236 shares in the last quarter. Dynamic Capital Management Ltd purchased a new position in shares of EQT in the second quarter worth $255,000. M&T Bank Corp lifted its holdings in shares of EQT by 17.1% in the second quarter. M&T Bank Corp now owns 12,936 shares of the oil and gas producer’s stock worth $206,000 after buying an additional 1,885 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of EQT in the second quarter worth $231,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of EQT in the second quarter worth $649,000. Institutional investors and hedge funds own 97.04% of the company’s stock.
Several research firms have recently commented on EQT. Wells Fargo & Co lowered their target price on shares of EQT from $29.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Morgan Stanley lowered their target price on shares of EQT from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Friday, July 26th. ValuEngine raised shares of EQT from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, TD Securities lowered their target price on shares of EQT from $17.50 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. EQT presently has an average rating of “Hold” and a consensus target price of $30.70.
EQT (NYSE:EQT) last released its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.13. The company had revenue of $958.40 million for the quarter, compared to the consensus estimate of $929.86 million. EQT had a negative net margin of 7.41% and a positive return on equity of 4.25%. EQT’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. On average, equities research analysts anticipate that EQT Co. will post 0.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, November 7th. EQT’s payout ratio is 7.06%.
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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