EQT Co. (NYSE:EQT) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in shares of EQT Co. (NYSE:EQT - Free Report) by 44.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 583,719 shares of the oil and gas producer's stock after selling 474,833 shares during the quarter. New York State Common Retirement Fund owned approximately 0.13% of EQT worth $21,387,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of EQT. Modera Wealth Management LLC acquired a new stake in EQT in the third quarter valued at $562,494,000. Price T Rowe Associates Inc. MD lifted its position in shares of EQT by 22.7% in 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. increased its holdings in 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 worth $1,885,590,000 after buying an additional 3,942,802 shares during the last quarter. Canoe Financial LP acquired a new position in EQT during the third quarter valued at approximately $89,907,000. Finally, Merewether Investment Management LP bought a new stake in shares of EQT in the second quarter valued at approximately $69,452,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EQT has been the subject of a number of research reports. Truist Financial lowered their target price on EQT from $36.00 to $32.00 and set a "hold" rating for the company in a research note on Monday, July 22nd. Wells Fargo & Company upgraded EQT from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. UBS Group increased their target price on EQT from $40.00 to $42.00 and gave the stock a "neutral" rating in a report on Monday. Bank of America assumed coverage on EQT in a research report on Monday, October 28th. They set a "buy" rating and a $50.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on EQT from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, September 26th. One investment 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $42.83.

EQT Trading Up 2.0 %

EQT stock traded up $0.74 during trading on Tuesday, hitting $37.54. 6,363,893 shares of the company traded hands, compared to its average volume of 7,034,474. EQT Co. has a 1 year low of $30.02 and a 1 year high of $44.47. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The company has a 50-day moving average of $35.31 and a 200-day moving average of $36.61. The firm has a market capitalization of $16.58 billion, a PE ratio of 44.85 and a beta of 1.06.

EQT (NYSE:EQT - Get Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company's revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $0.30 EPS. Analysts predict that EQT Co. will post 1.42 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.68%. EQT's dividend payout ratio (DPR) is 75.00%.

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.