E Fund Management Hong Kong Co. Ltd. Buys New Position in EQT Co. (NYSE:EQT)

E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of EQT Co. (NYSE:EQT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,530 shares of the oil and gas producer’s stock, valued at approximately $71,000.

Several other institutional investors also recently added to or reduced their stakes in EQT. Wellington Management Group LLP increased its holdings in shares of EQT by 38.7% in the 3rd 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 acquiring an additional 20,700,921 shares during the period. Modera Wealth Management LLC purchased a new position in EQT during the 3rd quarter worth $562,494,000. State Street Corp increased its stake in EQT by 24.5% in the third 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 purchasing an additional 7,290,822 shares during the period. Geode Capital Management LLC raised its holdings in shares of EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after buying an additional 3,582,418 shares during the last quarter. Finally, Holocene Advisors LP acquired a new stake in shares of EQT during the third quarter worth about $97,979,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Insider Buying and Selling at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the sale, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is currently owned by insiders.

EQT Stock Performance

EQT opened at $53.78 on Monday. The stock’s 50 day simple moving average is $46.84 and its 200 day simple moving average is $39.37. The stock has a market cap of $32.09 billion, a P/E ratio of 64.03 and a beta of 1.12. EQT Co. has a 1-year low of $30.02 and a 1-year high of $54.85. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. EQT’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. As a group, equities analysts anticipate that EQT Co. will post 1.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on EQT shares. BMO Capital Markets boosted their price target on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. UBS Group boosted their target price on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Jefferies Financial Group increased their price target on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Scotiabank cut shares of EQT from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $55.00 to $54.00 in a research note on Friday, January 17th. Finally, Wells Fargo & Company upped their price objective on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.89.

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.