Strs Ohio Invests $1.84 Million in EQT Corporation $EQT

Strs Ohio acquired a new position in shares of EQT Corporation (NYSE:EQT) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 34,508 shares of the oil and gas producer’s stock, valued at approximately $1,844,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new stake in shares of EQT in the first quarter valued at about $35,000. Harbour Investments Inc. grew its stake in shares of EQT by 48.4% during the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 226 shares in the last quarter. University of Texas Texas AM Investment Management Co. raised its holdings in shares of EQT by 47.7% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock valued at $44,000 after purchasing an additional 310 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of EQT in the fourth quarter valued at approximately $55,000. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of EQT by 197.4% in the first quarter. Hazlett Burt & Watson Inc. now owns 1,383 shares of the oil and gas producer’s stock worth $73,000 after purchasing an additional 918 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of EQT stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the sale, the executive vice president owned 13,297 shares of the company’s stock, valued at $690,646.18. This trade represents a 48.33% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.

EQT Stock Performance

NYSE EQT opened at $49.86 on Wednesday. The firm has a 50-day moving average of $52.72 and a 200-day moving average of $53.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $31.12 billion, a PE ratio of 26.95, a P/E/G ratio of 0.41 and a beta of 0.58. EQT Corporation has a 52-week low of $32.88 and a 52-week high of $61.02.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same quarter in the prior year, the business posted ($0.08) EPS. On average, sell-side analysts anticipate that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th were paid a $0.1575 dividend. The ex-dividend date was Wednesday, August 6th. This represents a $0.63 annualized dividend and a yield of 1.3%. EQT’s payout ratio is 34.05%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of EQT from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Wells Fargo & Company raised their target price on shares of EQT from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, June 16th. Barclays raised their target price on shares of EQT from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Scotiabank increased their price target on shares of EQT from $66.00 to $68.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 13th. Finally, Bank of America increased their price target on shares of EQT from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $62.14.

About EQT

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.