Royal London Asset Management Ltd. Has $94.33 Million Holdings in EQT Corporation $EQT

Royal London Asset Management Ltd. grew its holdings in EQT Corporation (NYSE:EQT) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,774,084 shares of the oil and gas producer’s stock after acquiring an additional 51,662 shares during the quarter. Royal London Asset Management Ltd. owned 0.28% of EQT worth $94,328,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mufg Securities Americas Inc. lifted its position in EQT by 9.1% during the second quarter. Mufg Securities Americas Inc. now owns 18,839 shares of the oil and gas producer’s stock worth $1,002,000 after purchasing an additional 1,571 shares during the period. Field & Main Bank acquired a new stake in shares of EQT in the 2nd quarter valued at $278,000. Wellington Management Group LLP increased its stake in shares of EQT by 41.4% in the 2nd quarter. Wellington Management Group LLP now owns 22,565,479 shares of the oil and gas producer’s stock valued at $1,199,807,000 after purchasing an additional 6,603,286 shares during the last quarter. Kimelman & Baird LLC acquired a new position in shares of EQT during the 2nd quarter worth $179,000. Finally, Rakuten Investment Management Inc. lifted its position in shares of EQT by 8.5% during the 2nd quarter. Rakuten Investment Management Inc. now owns 100,471 shares of the oil and gas producer’s stock worth $5,224,000 after buying an additional 7,853 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EQT has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price on EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, June 23rd. Citigroup decreased their price target on shares of EQT from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. UBS Group dropped their price objective on shares of EQT from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Weiss Ratings lowered shares of EQT from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of EQT in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.10.

EQT Price Performance

EQT stock opened at $54.56 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67. EQT Corporation has a 52-week low of $47.94 and a 52-week high of $68.24. The company has a market capitalization of $34.13 billion, a P/E ratio of 12.66 and a beta of 0.58. The company has a fifty day moving average price of $52.33 and a 200-day moving average price of $56.40.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The firm’s revenue for the quarter was down 29.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 earnings per share. As a group, equities analysts expect that EQT Corporation will post 3.97 EPS for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. EQT’s dividend payout ratio is presently 15.31%.

Insider Activity

In other news, CEO Toby Z. Rice sold 175,328 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the transaction, the chief executive officer directly owned 2,157,865 shares in the company, valued at $118,747,310.95. This trade represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 274,042 shares of company stock worth $15,005,076 in the last ninety days. 0.72% of the stock is owned by company insiders.

EQT Company Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.