National Bank of Canada FI Acquires 119,858 Shares of EQT Co. (NYSE:EQT)

National Bank of Canada FI boosted its holdings in EQT Co. (NYSE:EQT - Free Report) by 98.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 241,089 shares of the oil and gas producer's stock after acquiring an additional 119,858 shares during the quarter. National Bank of Canada FI's holdings in EQT were worth $8,833,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its holdings in shares of EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer's stock valued at $2,716,968,000 after purchasing an additional 20,700,921 shares in the last quarter. State Street Corp lifted its stake in EQT by 24.5% during the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer's stock valued at $1,359,183,000 after acquiring an additional 7,290,822 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in EQT by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer's stock worth $752,487,000 after acquiring an additional 464,781 shares during the last quarter. Modera Wealth Management LLC bought a new stake in shares of EQT in the 3rd quarter worth $562,494,000. Finally, Clearbridge Investments LLC raised its holdings in shares of EQT by 2.9% in the second quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer's stock valued at $335,952,000 after purchasing an additional 253,186 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Insider Transactions at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares of the company's stock, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.63% of the stock is owned by insiders.

EQT Price Performance

NYSE:EQT traded up $0.28 during mid-day trading on Thursday, hitting $45.86. 4,699,826 shares of the stock traded hands, compared to its average volume of 7,156,400. The business's 50-day moving average price is $40.66 and its 200 day moving average price is $37.37. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The company has a market cap of $27.36 billion, a PE ratio of 54.50 and a beta of 1.14. EQT Co. has a 12-month low of $30.02 and a 12-month high of $48.02.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The business's quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts expect that EQT Co. will post 1.36 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were issued a $0.1575 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.37%. EQT's payout ratio is currently 75.00%.

Wall Street Analysts Forecast Growth

EQT has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on shares of EQT from $42.00 to $52.00 and gave the stock an "overweight" rating in a research report on Monday, November 25th. BMO Capital Markets upped their target price on EQT from $39.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Morgan Stanley lifted their price target on EQT from $45.00 to $56.00 and gave the stock an "overweight" rating in a report on Monday, November 25th. Royal Bank of Canada restated a "sector perform" rating and issued a $49.00 price objective on shares of EQT in a research note on Tuesday, December 3rd. Finally, Bank of America assumed coverage on shares of EQT in a report on Monday, October 28th. They issued a "buy" rating and a $50.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $46.11.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.