EQT Co. (NYSE:EQT) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in shares of EQT Co. (NYSE:EQT) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 666,125 shares of the oil and gas producer’s stock after selling 23,912 shares during the quarter. California Public Employees Retirement System owned about 0.16% of EQT worth $25,752,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in EQT. Compound Global Advisors LLC grew its position in EQT by 130.2% in the fourth quarter. Compound Global Advisors LLC now owns 409,545 shares of the oil and gas producer’s stock worth $15,833,000 after buying an additional 231,651 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in EQT by 212.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 174,346 shares of the oil and gas producer’s stock worth $6,740,000 after buying an additional 118,482 shares during the last quarter. Wedge Capital Management L L P NC grew its position in EQT by 14.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 511,988 shares of the oil and gas producer’s stock worth $19,793,000 after buying an additional 63,190 shares during the last quarter. Vanguard Group Inc. grew its position in EQT by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock worth $1,822,027,000 after purchasing an additional 3,539,661 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in EQT by 6.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer’s stock worth $731,979,000 after purchasing an additional 1,098,211 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on EQT. Piper Sandler lowered their price objective on shares of EQT from $47.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price objective on shares of EQT in a research report on Tuesday, March 5th. Morgan Stanley lifted their price objective on shares of EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $37.00 price objective (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Finally, Stephens lifted their target price on shares of EQT from $46.00 to $47.00 and gave the company an “equal weight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $44.25.

EQT Stock Up 0.5 %

EQT stock opened at $40.61 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.99 and a debt-to-equity ratio of 0.32. EQT Co. has a 1 year low of $30.84 and a 1 year high of $45.23. The company has a fifty day simple moving average of $36.43 and a 200 day simple moving average of $37.94. The firm has a market cap of $17.93 billion, a PE ratio of 29.43 and a beta of 1.12.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. The business’s quarterly revenue was down 28.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.70 EPS. Sell-side analysts anticipate that EQT Co. will post 0.99 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be issued a dividend of $0.1575 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.55%. EQT’s payout ratio is 45.65%.

EQT 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.