New York State Common Retirement Fund Buys 49,174 Shares of EQT Co. (NYSE:EQT)

New York State Common Retirement Fund raised its holdings in EQT Co. (NYSE:EQT) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 793,504 shares of the oil and gas producer’s stock after purchasing an additional 49,174 shares during the quarter. New York State Common Retirement Fund owned 0.19% of EQT worth $30,677,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of EQT by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock valued at $1,822,027,000 after acquiring an additional 3,539,661 shares in the last quarter. Wellington Management Group LLP raised its position in shares of EQT by 61.9% in 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 acquiring an additional 7,526,875 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of EQT by 6.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer’s stock worth $731,979,000 after acquiring an additional 1,098,211 shares in the last quarter. Northern Trust Corp increased its position in EQT by 8.9% in the 3rd quarter. Northern Trust Corp now owns 3,657,338 shares of the oil and gas producer’s stock valued at $148,415,000 after buying an additional 300,326 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in EQT by 2.4% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Up 2.5 %

EQT opened at $40.41 on Friday. The business’s fifty day simple moving average is $36.31 and its 200 day simple moving average is $38.01. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. EQT Co. has a 52 week low of $30.84 and a 52 week high of $45.23. The stock has a market cap of $17.80 billion, a PE ratio of 29.28 and a beta of 1.12.

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 during the quarter, compared to analyst estimates of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.70%. The company’s revenue was down 28.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.70 earnings per share. As a group, research analysts expect that EQT Co. will post 0.99 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be issued a dividend of $0.1575 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.56%. EQT’s dividend payout ratio is currently 45.65%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. The Goldman Sachs Group decreased their target price on EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. StockNews.com upgraded EQT to a “sell” rating in a research note on Tuesday, March 12th. Sanford C. Bernstein upgraded EQT from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $27.00 to $34.00 in a research note on Wednesday, April 10th. Jefferies Financial Group boosted their target price on EQT from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Truist Financial dropped their price objective on EQT from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $44.06.

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.