Teachers Retirement System of The State of Kentucky Buys 45,898 Shares of EQT Co. (NYSE:EQT)

Teachers Retirement System of The State of Kentucky boosted its position in EQT Co. (NYSE:EQT - Free Report) by 136.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,525 shares of the oil and gas producer's stock after buying an additional 45,898 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in EQT were worth $2,914,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of EQT by 8.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,243 shares of the oil and gas producer's stock worth $1,081,000 after acquiring an additional 2,209 shares during the last quarter. Swedbank AB increased its position in EQT by 72.4% in the 2nd quarter. Swedbank AB now owns 189,407 shares of the oil and gas producer's stock valued at $7,004,000 after acquiring an additional 79,538 shares during the period. Blue Trust Inc. raised its stake in 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in EQT by 4.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 938,133 shares of the oil and gas producer's stock valued at $34,692,000 after buying an additional 41,531 shares in the last quarter. Finally, Raymond James & Associates lifted its position in EQT by 16.4% in the second quarter. Raymond James & Associates now owns 739,589 shares of the oil and gas producer's stock worth $27,350,000 after purchasing an additional 104,059 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EQT shares. JPMorgan Chase & Co. lifted 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. Sanford C. Bernstein initiated coverage on EQT in a research report on Friday, December 6th. They set a "market perform" rating and a $50.00 target price on the stock. Piper Sandler increased their price target on EQT from $32.00 to $34.00 and gave the company a "neutral" rating in a research report on Monday, November 4th. Mizuho boosted their price objective on EQT from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Finally, UBS Group raised their target price on shares of EQT from $40.00 to $42.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $46.11.

Insider Activity

In other news, Director Thomas F. Karam sold 30,154 shares of EQT 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 completion of the sale, the director now directly owns 201,608 shares of the company's stock, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

EQT Price Performance

Shares of EQT stock traded down $0.27 during midday trading on Friday, hitting $45.59. 8,514,983 shares of the company were exchanged, compared to its average volume of 7,159,665. The firm has a 50 day simple moving average of $41.00 and a 200-day simple moving average of $37.44. EQT Co. has a 52 week low of $30.02 and a 52 week high of $48.02. The firm has a market cap of $27.20 billion, a P/E ratio of 54.27 and a beta of 1.14. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

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 company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS. Research analysts forecast that EQT Co. will post 1.37 earnings per share 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 issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Wednesday, November 6th. EQT's payout ratio is 75.00%.

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.