Sustainable Insight Capital Management LLC Acquires New Position in EQT Co. (NYSE:EQT)

Sustainable Insight Capital Management LLC acquired a new position in EQT Co. (NYSE:EQT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,800 shares of the oil and gas producer’s stock, valued at approximately $314,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EQT. Envestnet Asset Management Inc. raised its stake in shares of EQT by 2.9% in the second quarter. Envestnet Asset Management Inc. now owns 230,697 shares of the oil and gas producer’s stock worth $8,531,000 after purchasing an additional 6,427 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in EQT by 25.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,046 shares of the oil and gas producer’s stock worth $478,000 after buying an additional 2,463 shares in the last quarter. AE Wealth Management LLC purchased a new position in EQT in the 2nd quarter worth about $230,000. Thrivent Financial for Lutherans lifted its stake in EQT by 6.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 17,817 shares of the oil and gas producer’s stock valued at $659,000 after acquiring an additional 1,044 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of EQT by 21.3% during the 2nd quarter. ProShare Advisors LLC now owns 84,798 shares of the oil and gas producer’s stock valued at $3,136,000 after acquiring an additional 14,879 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

EQT Stock Up 0.3 %

Shares of EQT opened at $53.56 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a 52-week low of $30.02 and a 52-week high of $54.85. The company has a market cap of $31.96 billion, a PE ratio of 63.76 and a beta of 1.12. The business has a fifty day moving average of $46.40 and a 200 day moving average of $39.13.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 EPS. On average, sell-side analysts expect that EQT Co. will post 1.42 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on EQT. JPMorgan Chase & Co. boosted their target price on shares of EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Bank of America began coverage on shares of EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective on the stock. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price for the company in a report on Wednesday, January 15th. Wells Fargo & Company lifted their price target on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group raised their target price on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

Insider Activity

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the transaction, the director now owns 201,608 shares of the company’s stock, valued at $9,038,086.64. This represents a 13.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.63% of the company’s stock.

EQT Company Profile

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.