California Public Employees Retirement System Increases Position in EQT Co. (NYSE:EQT)

California Public Employees Retirement System increased its holdings in shares of EQT Co. (NYSE:EQT - Free Report) by 17.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 896,146 shares of the oil and gas producer's stock after purchasing an additional 129,917 shares during the period. California Public Employees Retirement System owned 0.15% of EQT worth $41,321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer's stock worth $2,716,968,000 after buying an additional 20,700,921 shares during the period. State Street Corp lifted its position in EQT by 24.5% during the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer's stock worth $1,359,183,000 after acquiring an additional 7,290,822 shares during the period. Geode Capital Management LLC grew its stake in shares of EQT by 34.4% in the 3rd 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 purchasing an additional 3,582,418 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of EQT by 386.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer's stock valued at $205,830,000 after purchasing an additional 3,454,741 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of EQT in the fourth quarter valued at approximately $113,924,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of EQT from a "hold" rating to a "sell" rating in a research report on Monday. Wells Fargo & Company raised their target price on shares of EQT from $53.00 to $58.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 19th. JPMorgan Chase & Co. boosted their price target on shares of EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. UBS Group lowered their price objective on EQT from $58.00 to $55.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Stephens raised EQT from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $41.00 to $59.00 in a research note on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, EQT has a consensus rating of "Hold" and an average target price of $55.11.

EQT Price Performance

Shares of NYSE EQT traded up $1.10 on Monday, hitting $47.21. The company's stock had a trading volume of 13,411,421 shares, compared to its average volume of 7,650,560. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The stock has a 50 day moving average of $51.22 and a 200-day moving average of $45.77. EQT Co. has a 12-month low of $30.02 and a 12-month high of $56.66. The company has a market capitalization of $28.20 billion, a price-to-earnings ratio of 118.02, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35.

EQT (NYSE:EQT - Get Free Report) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.19. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. As a group, research analysts predict that EQT Co. will post 3.27 EPS for the current year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Tuesday, February 18th. EQT's dividend payout ratio is presently 157.50%.

About EQT

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.