EQT Co. (NYSE:EQT) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its position in EQT Co. (NYSE:EQT) by 10.9% in the fourth quarter, Holdings Channel reports. The firm owned 90,653 shares of the oil and gas producer’s stock after acquiring an additional 8,879 shares during the period. Retirement Systems of Alabama’s holdings in EQT were worth $3,505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in EQT. Vanguard Group Inc. grew its position in shares of EQT by 8.6% during the third quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock worth $1,822,027,000 after acquiring an additional 3,539,661 shares during the last quarter. Wellington Management Group LLP grew its position in EQT by 61.9% during the 3rd quarter. Wellington Management Group LLP now owns 19,687,594 shares of the oil and gas producer’s stock worth $798,923,000 after purchasing an additional 7,526,875 shares during the last quarter. Northern Trust Corp increased its stake in EQT by 8.9% in the third quarter. Northern Trust Corp now owns 3,657,338 shares of the oil and gas producer’s stock valued at $148,415,000 after purchasing an additional 300,326 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of EQT by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,345,714 shares of the oil and gas producer’s stock valued at $135,769,000 after buying an additional 77,282 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of EQT by 16.3% during the third quarter. Barclays PLC now owns 1,847,603 shares of the oil and gas producer’s stock worth $74,979,000 after buying an additional 258,848 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Down 1.3 %

Shares of EQT stock opened at $40.50 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $36.98 and a 200 day moving average price of $37.75. EQT Co. has a fifty-two week low of $31.58 and a fifty-two week high of $45.23. The firm has a market cap of $17.88 billion, a P/E ratio of 29.35 and a beta of 1.09.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.58 billion. EQT had a return on equity of 4.57% and a net margin of 10.96%. The business’s revenue was down 28.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.70 EPS. On average, sell-side analysts forecast that EQT Co. will post 1.14 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Tuesday, May 7th. EQT’s dividend payout ratio (DPR) is presently 45.65%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley boosted their price target on EQT from $37.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. restated a “neutral” rating and set a $37.00 price target (down previously from $39.00) on shares of EQT in a research note on Wednesday, March 20th. TD Cowen started coverage on shares of EQT in a research report on Friday, April 19th. They issued a “hold” rating and a $43.00 price objective on the stock. Mizuho upped their price objective on shares of EQT from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Finally, StockNews.com raised shares of EQT to a “sell” rating in a report on Tuesday, March 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $44.56.

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.