Cannell Peter B Co Inc Lowers stake in EQT Corporation (EQT)

EQT Corporation (EQT) : Cannell Peter B Co Inc reduced its stake in EQT Corporation by 17.15% during the most recent quarter end. The investment management company now holds a total of 791,192 shares of EQT Corporation which is valued at $54,054,237 after selling 163,748 shares in EQT Corporation , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.EQT Corporation makes up approximately 1.88% of Cannell Peter B Co Inc’s portfolio.

Other Hedge Funds, Including , Employees Retirement System Of Texas reduced its stake in EQT by selling 1,000 shares or 0.6% in the most recent quarter. The Hedge Fund company now holds 164,900 shares of EQT which is valued at $11,265,968. EQT Corporation makes up approx 0.15% of Employees Retirement System Of Texas’s portfolio. American Capital Management Inc sold out all of its stake in EQT during the most recent quarter. The investment firm sold 7,998 shares of EQT which is valued $572,097.First Manhattan Co boosted its stake in EQT in the latest quarter, The investment management firm added 40 additional shares and now holds a total of 6,490 shares of EQT Corporation which is valued at $489,800.

EQT Corporation opened for trading at $71.81 and hit $72.17 on the upside on Tuesday, eventually ending the session at $72.1, with a gain of 0.68% or 0.49 points. The heightened volatility saw the trading volume jump to 21,35,714 shares. Company has a market cap of $12,455 M.

On the company’s financial health, EQT Corporation reported $-0.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.40. The company had revenue of $127.53 million for the quarter, compared to analysts expectations of $448.83 million. The company’s revenue was down -71.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.06 EPS.

Many Wall Street Analysts have commented on EQT Corporation. Shares were Downgraded by Scotia Howard Weil on Aug 11, 2016 to ” Sector Perform” and Lowered the Price Target to $ 90 from a previous price target of $91 .Shares were Reiterated by Scotia Howard Weil on Jul 29, 2016 to “Sector Outperform” and Lowered the Price Target to $ 91 from a previous price target of $92 .

EQT Corporation (EQT) is an energy company. The Company operates in two business segments: EQT Production and EQT Midstream. EQT Production is a natural gas producer in the Appalachian Basin with approximately 10.7 trillion cubic feet equivalent (Tcfe) of proved natural gas natural gas liquids (NGLs) and crude oil reserves across approximately 3.4 million acres including around 630000 gross acres in the Marcellus play. Its proved reserves include Lower Huron Cleveland Berea sandstone and other Devonian age formations. EQT Midstream assets are located in the Marcellus Shale region spanning an area of southwestern Pennsylvania and northern West Virginia. EQT Midstream provides gathering transmission and storage services for its produced gas and for the independent third parties across the Appalachian Basin.

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