State of New Jersey Common Pension Fund D Purchases 53,285 Shares of EQT Co. (NYSE:EQT)

State of New Jersey Common Pension Fund D lifted its holdings in EQT Co. (NYSE:EQT - Free Report) by 34.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 208,897 shares of the oil and gas producer's stock after purchasing an additional 53,285 shares during the period. State of New Jersey Common Pension Fund D's holdings in EQT were worth $7,654,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of EQT. Crossmark Global Holdings Inc. increased its holdings in shares of EQT by 7.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 13,646 shares of the oil and gas producer's stock worth $500,000 after purchasing an additional 926 shares during the period. Covestor Ltd grew its position in EQT by 437.9% during the third quarter. Covestor Ltd now owns 2,856 shares of the oil and gas producer's stock worth $105,000 after buying an additional 2,325 shares in the last quarter. Atria Investments Inc bought a new position in EQT during the third quarter valued at about $201,000. Oxbow Advisors LLC raised its holdings in EQT by 17.5% in the 3rd quarter. Oxbow Advisors LLC now owns 7,191 shares of the oil and gas producer's stock valued at $263,000 after acquiring an additional 1,069 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of EQT by 8.9% in the 3rd quarter. Assetmark Inc. now owns 27,899 shares of the oil and gas producer's stock worth $1,022,000 after acquiring an additional 2,283 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. 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 report on Friday, October 4th. Stephens boosted their price target on EQT from $37.00 to $38.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Morgan Stanley reiterated an "overweight" rating and issued a $45.00 price target on shares of EQT in a research report on Friday, September 13th. Truist Financial cut their price objective on EQT from $36.00 to $32.00 and set a "hold" rating for the company in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of EQT from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, September 26th. 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's stock. Based on data from MarketBeat.com, EQT has a consensus rating of "Moderate Buy" and a consensus target price of $42.83.

EQT Trading Up 6.7 %

Shares of EQT stock traded up $2.76 during trading on Monday, hitting $43.98. 9,428,703 shares of the company were exchanged, compared to its average volume of 7,067,185. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market capitalization of $26.24 billion, a P/E ratio of 49.07 and a beta of 1.06. The firm's fifty day moving average price is $35.86 and its 200 day moving average price is $36.66. EQT Co. has a 1-year low of $30.02 and a 1-year high of $44.06.

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. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The business's quarterly revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts expect that EQT Co. will post 1.34 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT's dividend payout ratio is presently 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.