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

Royal London Asset Management Ltd. grew its position in shares of EQT Corporation (NYSE:EQT) by 3.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,774,084 shares of the oil and gas producer’s stock after buying an additional 51,662 shares during the period. Royal London Asset Management Ltd.’s holdings in EQT were worth $94,328,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Mufg Securities Americas Inc. raised its holdings 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 buying an additional 1,571 shares during the last quarter. Field & Main Bank acquired a new stake in shares of EQT in the 2nd quarter worth about $278,000. Wellington Management Group LLP raised its holdings 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 worth $1,199,807,000 after acquiring an additional 6,603,286 shares during the last quarter. Kimelman & Baird LLC bought a new position in EQT in the 2nd quarter valued at about $179,000. Finally, Rakuten Investment Management Inc. lifted its position in EQT by 8.5% in the 2nd quarter. Rakuten Investment Management Inc. now owns 100,471 shares of the oil and gas producer’s stock valued at $5,224,000 after acquiring an additional 7,853 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Down 0.4%

EQT opened at $54.56 on Friday. The stock has a market cap of $34.13 billion, a PE ratio of 12.66 and a beta of 0.58. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT Corporation has a 52 week low of $47.94 and a 52 week high of $68.24. The business’s fifty day simple moving average is $52.33 and its 200 day simple moving average is $56.40.

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

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be issued a dividend of $0.165 per share. 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 (DPR) is currently 15.31%.

Insider Activity at EQT

In other EQT news, CEO Toby Z. Rice sold 175,328 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the sale, the chief executive officer directly owned 2,157,865 shares of the company’s stock, valued at $118,747,310.95. The trade was a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 274,042 shares of company stock worth $15,005,076. 0.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EQT. Barclays decreased their price objective on EQT from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Freedom Capital upgraded EQT to a “strong-buy” rating in a report on Tuesday, June 30th. Morgan Stanley cut their target price on EQT from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 19th. The Goldman Sachs Group lowered their price target on EQT from $65.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of EQT in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $68.10.

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.