Retirement Systems of Alabama grew its position in shares of EQT Co. (NYSE:EQT - Free Report) by 36.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 133,142 shares of the oil and gas producer's stock after acquiring an additional 35,733 shares during the quarter. Retirement Systems of Alabama's holdings in EQT were worth $4,878,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the company. HM Payson & Co. bought a new position in EQT in the 3rd quarter worth about $25,000. Innealta Capital LLC bought a new position in EQT during the second quarter valued at about $28,000. Truvestments Capital LLC acquired a new stake in EQT in the 3rd quarter valued at about $30,000. Hexagon Capital Partners LLC lifted its stake in EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 904 shares during the last quarter. Finally, Quarry LP grew its position in EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer's stock worth $33,000 after buying an additional 578 shares during the last quarter. Institutional investors own 90.81% of the company's stock.
EQT Stock Performance
NYSE:EQT traded up $0.11 during trading hours on Thursday, hitting $42.65. 6,921,385 shares of the company traded hands, compared to its average volume of 7,154,320. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $25.45 billion, a price-to-earnings ratio of 50.77 and a beta of 1.14. The firm has a 50-day moving average of $41.53 and a 200 day moving average of $37.53. EQT Co. has a twelve month low of $30.02 and a twelve month high of $48.02.
EQT (NYSE:EQT - Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter last year, the company earned $0.30 earnings per share. The firm's revenue was up 8.2% on a year-over-year basis. On average, analysts forecast that EQT Co. will post 1.37 EPS for the current year.
EQT Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Wednesday, November 6th. EQT's dividend payout ratio is presently 75.00%.
Insider Buying and Selling at EQT
In related news, Director Thomas F. Karam sold 30,154 shares of the business's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the sale, the director now owns 201,608 shares of the company's stock, valued at $9,038,086.64. The trade was a 13.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.63% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on EQT. Truist Financial lifted their price target on EQT from $32.00 to $41.00 and gave the stock a "hold" rating in a research note on Tuesday, November 26th. Bank of America initiated coverage on EQT in a report on Monday, October 28th. They issued a "buy" rating and a $50.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of EQT from $42.00 to $52.00 and gave the company an "overweight" rating in a research note on Monday, November 25th. BMO Capital Markets increased their price target on shares of EQT from $39.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Finally, Morgan Stanley raised their price target on shares of EQT from $45.00 to $56.00 and gave the company an "overweight" rating in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued 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 $46.61.
Check Out Our Latest Analysis on EQT
About EQT
(
Free Report)
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.
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