Morgan Stanley Reduces Stake in EQT Corporation (NYSE:EQT)

Morgan Stanley reduced its position in EQT Corporation (NYSE:EQT) by 53.1% during the first quarter, Holdings Channel reports. The institutional investor owned 386,314 shares of the oil and gas producer’s stock after selling 436,665 shares during the period. Morgan Stanley’s holdings in EQT Corporation were worth $23,605,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec increased its position in shares of EQT Corporation by 10.8% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 28,637 shares of the oil and gas producer’s stock worth $1,752,000 after buying an additional 2,800 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of EQT Corporation by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 370,215 shares of the oil and gas producer’s stock worth $22,618,000 after buying an additional 4,940 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of EQT Corporation by 27.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,382 shares of the oil and gas producer’s stock worth $573,000 after buying an additional 2,041 shares in the last quarter. Marshall Wace LLP increased its position in shares of EQT Corporation by 1,712.3% in the first quarter. Marshall Wace LLP now owns 60,677 shares of the oil and gas producer’s stock worth $3,701,000 after buying an additional 57,329 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of EQT Corporation by 3.1% in the first quarter. Vanguard Group Inc. now owns 17,207,739 shares of the oil and gas producer’s stock worth $1,051,393,000 after buying an additional 522,164 shares in the last quarter. 90.78% of the stock is owned by institutional investors.

EQT Corporation (EQT) opened at 58.74 on Monday. The company’s 50-day moving average is $56.01 and its 200-day moving average is $60.47. The firm’s market cap is $10.18 billion. EQT Corporation has a one year low of $49.63 and a one year high of $78.84.

EQT Corporation (NYSE:EQT) last posted its quarterly earnings results on Thursday, April 27th. The oil and gas producer reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.02. EQT Corporation had a negative net margin of 15.03% and a positive return on equity of 0.18%. The business had revenue of $897.50 million during the quarter, compared to analyst estimates of $713.65 million. During the same period in the previous year, the business posted $0.07 EPS. The business’s revenue for the quarter was up 64.6% compared to the same quarter last year. On average, analysts forecast that EQT Corporation will post $1.30 earnings per share for the current fiscal year.

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A number of brokerages have weighed in on EQT. Stifel Nicolaus set a $79.00 target price on shares of EQT Corporation and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Royal Bank of Canada downgraded shares of EQT Corporation from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $86.00 to $80.00 in a research note on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $69.00 target price on shares of EQT Corporation in a research note on Tuesday, July 4th. Scotiabank set a $77.00 target price on shares of EQT Corporation and gave the stock a “hold” rating in a research note on Saturday, July 1st. Finally, KLR Group reaffirmed a “buy” rating and issued a $102.00 target price (up from $92.00) on shares of EQT Corporation in a research note on Monday, June 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $79.71.

In other EQT Corporation news, insider Robert Joseph Mcnally purchased 1,500 shares of EQT Corporation stock in a transaction that occurred on Wednesday, June 21st. The stock was acquired at an average price of $50.00 per share, with a total value of $75,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steven T. Schlotterbeck purchased 2,000 shares of EQT Corporation stock in a transaction that occurred on Thursday, June 22nd. The stock was acquired at an average cost of $52.14 per share, with a total value of $104,280.00. Following the transaction, the chief executive officer now owns 115,178 shares in the company, valued at approximately $6,005,380.92. The disclosure for this purchase can be found here. In the last three months, insiders purchased 41,901 shares of company stock valued at $2,211,775. 1.00% of the stock is currently owned by insiders.

EQT Corporation Company Profile

EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.

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Institutional Ownership by Quarter for EQT Corporation (NYSE:EQT)

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