Anchor Bolt Capital Lp Lowers stake in EQT Corporation (EQT)

EQT Corporation (EQT) : Anchor Bolt Capital Lp reduced its stake in EQT Corporation by 4.11% during the most recent quarter end. The investment management company now holds a total of 1,458,061 shares of EQT Corporation which is valued at $99,614,728 after selling 62,523 shares in EQT Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.EQT Corporation makes up approximately 3.28% of Anchor Bolt Capital Lp’s portfolio.

Other Hedge Funds, Including , Aureus Asset Management added EQT to its portfolio by purchasing 3,500 company shares during the most recent quarter which is valued at $239,120. EQT Corporation makes up approx 0.05% of Aureus Asset Management’s portfolio. Capital Innovations sold out all of its stake in EQT during the most recent quarter. The investment firm sold 10,039 shares of EQT which is valued $685,864.Janus Capital Management boosted its stake in EQT in the latest quarter, The investment management firm added 1,768 additional shares and now holds a total of 96,157 shares of EQT Corporation which is valued at $6,569,446. EQT Corporation makes up approx 0.01% of Janus Capital Management’s portfolio.Advisors Asset Management reduced its stake in EQT by selling 3,956 shares or 6.99% in the most recent quarter. The Hedge Fund company now holds 52,632 shares of EQT which is valued at $3,595,292. EQT Corporation makes up approx 0.06% of Advisors Asset Management’s portfolio.Bnp Paribas Investment Partners S.a. reduced its stake in EQT by selling 236 shares or 0.76% in the most recent quarter. The Hedge Fund company now holds 30,695 shares of EQT which is valued at $2,096,775. EQT Corporation makes up approx 0.02% of Bnp Paribas Investment Partners S.a.’s portfolio.

EQT Corporation opened for trading at $71.05 and hit $72.275 on the upside on Thursday, eventually ending the session at $71.74, with a gain of 0.34% or 0.24 points. The heightened volatility saw the trading volume jump to 11,46,411 shares. Company has a market cap of $12,393 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. Stifel Upgraded EQT Corporation on Aug 26, 2016 to ” Buy”, Price Target of the shares are set at $87.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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