State of Alaska Department of Revenue Acquires 17,540 Shares of EQT Co. (NYSE:EQT)

State of Alaska Department of Revenue increased its position in EQT Co. (NYSE:EQT - Free Report) by 32.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,242 shares of the oil and gas producer's stock after buying an additional 17,540 shares during the period. State of Alaska Department of Revenue's holdings in EQT were worth $2,646,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of EQT during the 2nd quarter valued at $28,000. Hexagon Capital Partners LLC lifted its position in shares of EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer's stock worth $33,000 after buying an additional 904 shares during the last quarter. Wolff Wiese Magana LLC boosted its stake in shares of EQT by 936.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer's stock worth $37,000 after acquiring an additional 908 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of EQT by 149.5% during the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer's stock valued at $37,000 after acquiring an additional 598 shares during the last quarter. Finally, Rise Advisors LLC increased its holdings in shares of EQT by 224.8% during the 3rd quarter. Rise Advisors LLC now owns 1,036 shares of the oil and gas producer's stock valued at $38,000 after acquiring an additional 717 shares during the last quarter. Institutional investors own 90.81% of the company's stock.

EQT Price Performance

NYSE:EQT traded down $0.92 during mid-day trading on Friday, hitting $35.62. The company's stock had a trading volume of 7,129,089 shares, compared to its average volume of 7,038,687. The company has a market capitalization of $15.73 billion, a price-to-earnings ratio of 43.51 and a beta of 1.06. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $45.23. The stock has a fifty day moving average of $35.20 and a 200-day moving average of $36.60.

EQT (NYSE:EQT - Get Free Report) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 4.08% and a net margin of 5.52%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the company earned $0.30 EPS. EQT's revenue was up 8.2% on a year-over-year basis. As a group, equities analysts forecast that EQT Co. will post 1.42 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 dividend payout ratio (DPR) is currently 75.00%.

Wall Street Analysts Forecast Growth

EQT has been the topic of several analyst reports. Truist Financial lowered their price target on EQT from $36.00 to $32.00 and set a "hold" rating on the stock in a report on Monday, July 22nd. UBS Group dropped their target price on shares of EQT from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Wednesday, September 18th. Wells Fargo & Company upgraded shares of EQT from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $40.00 to $42.00 in a report on Wednesday, August 14th. Morgan Stanley reiterated an "overweight" rating and issued a $45.00 price objective on shares of EQT in a research note on Friday, September 13th. Finally, Bank of America initiated coverage on EQT in a research note on Monday. They set a "buy" rating and a $50.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.