Retirement Systems of Alabama Buys 35,733 Shares of EQT Co. (NYSE:EQT)

Retirement Systems of Alabama raised its stake in shares of EQT Co. (NYSE:EQT) by 36.7% in the third quarter, according to the company in its most recent disclosure 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HM Payson & Co. acquired a new stake in shares of EQT during the 3rd quarter worth about $25,000. Innealta Capital LLC bought a new stake in EQT during the second quarter worth about $28,000. Truvestments Capital LLC bought a new stake in EQT during the third quarter worth about $30,000. Hexagon Capital Partners LLC increased its holdings in shares of 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 worth $33,000 after buying an additional 904 shares in the last quarter. Finally, Quarry LP raised its stake in shares of EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 578 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Insider Transactions at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.63% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EQT. Sanford C. Bernstein began coverage on EQT in a research report on Friday, December 6th. They issued a “market perform” rating and a $50.00 price objective for the company. Wells Fargo & Company upped their price target on shares of EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Stephens raised their price objective on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Truist Financial upped their target price on shares of EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Finally, UBS Group raised their price target on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.61.

EQT Stock Down 3.8 %

EQT stock opened at $42.54 on Thursday. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $48.02. 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 $25.38 billion, a price-to-earnings ratio of 50.64 and a beta of 1.14. The company’s 50 day simple moving average is $41.41 and its 200 day simple moving average is $37.50.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. As a group, sell-side analysts anticipate that EQT Co. will post 1.37 EPS for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.48%. EQT’s dividend payout ratio (DPR) is currently 75.00%.

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.