Kentucky Retirement Systems Buys 8,106 Shares of EQT Co. (NYSE:EQT)

Kentucky Retirement Systems lifted its stake in shares of EQT Co. (NYSE:EQT) by 24.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 41,383 shares of the oil and gas producer’s stock after buying an additional 8,106 shares during the quarter. Kentucky Retirement Systems’ holdings in EQT were worth $1,516,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of EQT. Price T Rowe Associates Inc. MD grew its holdings in EQT by 22.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after purchasing an additional 11,993,729 shares during the period. Vanguard Group Inc. grew its stake in shares of EQT by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after acquiring an additional 3,942,802 shares during the period. Bank of New York Mellon Corp increased its holdings in EQT by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after acquiring an additional 464,781 shares during the last quarter. Modera Wealth Management LLC bought a new stake in EQT in the 3rd quarter valued at about $562,494,000. Finally, Clearbridge Investments LLC lifted its holdings in EQT by 2.9% during the second quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock valued at $335,952,000 after purchasing an additional 253,186 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Price Performance

EQT stock opened at $44.28 on Tuesday. The firm has a 50 day simple moving average of $36.91 and a two-hundred day simple moving average of $36.77. 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 stock has a market cap of $26.42 billion, a PE ratio of 52.71 and a beta of 1.06. EQT Co. has a one year low of $30.02 and a one year high of $44.62.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that EQT Co. will post 1.28 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be issued a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.42%. EQT’s dividend payout ratio is 75.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Bank of America initiated coverage on shares of EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 target price on the stock. Truist Financial cut their price target on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a report on Monday, July 22nd. BMO Capital Markets boosted their price objective on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, StockNews.com upgraded EQT to a “sell” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.83.

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.