TD Waterhouse Canada Inc. Has $3.95 Million Stock Position in EQT Corporation $EQT

TD Waterhouse Canada Inc. raised its holdings in shares of EQT Corporation (NYSE:EQT) by 27.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,267 shares of the oil and gas producer’s stock after acquiring an additional 16,400 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in EQT were worth $3,951,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Greykasell Wealth Strategies Inc. acquired a new position in EQT during the fourth quarter worth $26,000. Meeder Asset Management Inc. acquired a new stake in EQT in the 2nd quarter valued at $26,000. Wedbush Fund Advisers LLC increased its stake in EQT by 251.8% in the 2nd quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 413 shares during the last quarter. Continuum Advisory LLC bought a new stake in EQT during the 2nd quarter worth about $32,000. Finally, Gables Capital Management Inc. bought a new stake in EQT during the 2nd quarter worth about $37,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Toby Rice sold 175,328 shares of EQT stock in a transaction that occurred on 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 approximately $118,747,310.95. The trade was a 7.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen cut EQT from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. JPMorgan Chase & Co. dropped their target price on EQT from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday, June 23rd. UBS Group reduced their price target on EQT from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Sanford C. Bernstein reissued an “outperform” rating on shares of EQT in a research report on Thursday, July 30th. Finally, Zacks Research upgraded EQT from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.10.

EQT Stock Down 0.1%

EQT stock opened at $55.11 on Tuesday. The firm has a market capitalization of $34.47 billion, a PE ratio of 12.79 and a beta of 0.58. The company’s 50-day moving average is $52.74 and its 200-day moving average is $56.31. EQT Corporation has a fifty-two week low of $47.94 and a fifty-two week high of $68.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67.

EQT (NYSE:EQT) last issued 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). EQT had a net margin of 28.44% and a return on equity of 9.31%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was down 29.2% on a year-over-year basis. Sell-side analysts anticipate that EQT Corporation will post 3.96 earnings per share for the current year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th were paid a $0.165 dividend. The ex-dividend date was Wednesday, August 5th. This represents a $0.66 annualized dividend and a yield of 1.2%. EQT’s dividend payout ratio is currently 15.31%.

About EQT

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.