EQT Co. (NYSE:EQT) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in shares of EQT Co. (NYSE:EQTFree Report) by 9.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 66,317 shares of the oil and gas producer’s stock after selling 7,070 shares during the period. State of Alaska Department of Revenue’s holdings in EQT were worth $2,457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new position in EQT in the 3rd quarter valued at about $88,000. O Shaughnessy Asset Management LLC purchased a new position in shares of EQT in the third quarter valued at approximately $252,000. Glenmede Trust Co. NA boosted its stake in shares of EQT by 219.5% in the third quarter. Glenmede Trust Co. NA now owns 23,329 shares of the oil and gas producer’s stock worth $947,000 after acquiring an additional 16,027 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of EQT by 53.9% during the third quarter. Advisors Asset Management Inc. now owns 25,157 shares of the oil and gas producer’s stock worth $1,021,000 after purchasing an additional 8,812 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in EQT by 14.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,096,400 shares of the oil and gas producer’s stock valued at $44,492,000 after purchasing an additional 142,359 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total value of $1,935,840.36. Following the completion of the transaction, the insider now owns 160,884 shares in the company, valued at $6,642,900.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the completion of the transaction, the insider now directly owns 160,884 shares in the company, valued at $6,642,900.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the transaction, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

EQT Price Performance

Shares of EQT opened at $36.32 on Friday. The firm has a 50-day simple moving average of $39.62 and a two-hundred day simple moving average of $37.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.88. EQT Co. has a 1-year low of $32.07 and a 1-year high of $45.23. The stock has a market cap of $16.04 billion, a PE ratio of 26.32 and a beta of 1.12.

EQT (NYSE:EQTGet Free Report) last released its quarterly 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 business had revenue of $1.30 billion during 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 company’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period last year, the business posted $1.70 earnings per share. As a group, analysts forecast that EQT Co. will post 1.05 EPS for the current year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th were given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Tuesday, May 7th. EQT’s dividend payout ratio is currently 45.65%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EQT. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $37.00 target price (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Scotiabank increased their price objective on shares of EQT from $52.00 to $54.00 and gave the company a “sector outperform” rating in a report on Thursday, May 9th. Morgan Stanley boosted their target price on EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. BMO Capital Markets increased their price target on EQT from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, May 13th. Finally, Wells Fargo & Company lowered EQT from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $48.00 to $37.00 in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.24.

View Our Latest Stock Report on EQT

EQT Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding EQT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EQT Co. (NYSE:EQTFree Report).

Institutional Ownership by Quarter for EQT (NYSE:EQT)

Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.