Cigna Investments Inc. New Makes New Investment in EQT Co. (NYSE:EQT)

Cigna Investments Inc. New bought a new position in shares of EQT Co. (NYSE:EQT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,950 shares of the oil and gas producer’s stock, valued at approximately $218,000.

A number of other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in EQT by 22.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock worth $2,405,007,000 after purchasing an additional 11,993,729 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of EQT by 8.4% in the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after acquiring an additional 3,942,802 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of EQT by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock valued at $752,487,000 after acquiring an additional 464,781 shares in the last quarter. Modera Wealth Management LLC purchased a new stake in shares of EQT in the third quarter valued at $562,494,000. Finally, Clearbridge Investments LLC lifted its position 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 acquiring an additional 253,186 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Trading Down 2.5 %

NYSE:EQT opened at $35.62 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $35.24 and its two-hundred day moving average is $36.60. EQT Co. has a 52 week low of $30.02 and a 52 week high of $45.23. The company has a market cap of $15.73 billion, a PE ratio of 42.41 and a beta of 1.06.

EQT (NYSE:EQT) last released its 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. EQT had a return on equity of 4.08% and a net margin of 5.52%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the business posted $0.30 EPS. EQT’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that EQT Co. will post 1.42 EPS for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Wednesday, November 6th. EQT’s payout ratio is 75.00%.

Analyst Ratings Changes

Several equities analysts recently commented on EQT shares. Bank of America started coverage on EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 target price for the company. Stephens upped their price target on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Morgan Stanley restated an “overweight” rating and set a $45.00 price target on shares of EQT in a research note on Friday, September 13th. Finally, StockNews.com upgraded EQT to a “sell” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.17.

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.