Teachers Retirement System of The State of Kentucky Increases Stock Holdings in EQT Co. (NYSE:EQT)

Teachers Retirement System of The State of Kentucky lifted its stake in shares of EQT Co. (NYSE:EQT) by 136.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,525 shares of the oil and gas producer’s stock after purchasing an additional 45,898 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in EQT were worth $2,914,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. HM Payson & Co. purchased a new position in EQT during the 3rd quarter worth $25,000. Innealta Capital LLC purchased a new position in EQT during the second quarter worth about $28,000. Truvestments Capital LLC acquired a new stake in EQT in the third quarter valued at about $30,000. Hexagon Capital Partners LLC lifted its position in EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 904 shares during the period. Finally, Quarry LP boosted its holdings in EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Price Performance

EQT stock opened at $45.59 on Friday. The stock’s 50 day moving average price is $41.00 and its 200 day moving average price is $37.44. The firm has a market cap of $27.20 billion, a P/E ratio of 54.27 and a beta of 1.14. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. EQT Co. has a 1 year low of $30.02 and a 1 year high of $48.02.

EQT (NYSE:EQT) last issued its quarterly earnings data 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 business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 earnings per share. On average, sell-side analysts expect that EQT Co. will post 1.37 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.38%. EQT’s dividend payout ratio is currently 75.00%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EQT. Truist Financial increased their target price on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. Wells Fargo & Company increased their price objective on EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Citigroup boosted their target price on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Bank of America started coverage on shares of EQT in a research note on Monday, October 28th. They set a “buy” rating and a $50.00 price target on the stock. Finally, BMO Capital Markets raised their price objective on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.11.

Insider Transactions at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction that occurred 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 owns 201,608 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.63% of the company’s stock.

EQT Company 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.