State of Alaska Department of Revenue Boosts Holdings in EQT Co. (NYSE:EQT)

State of Alaska Department of Revenue grew its position in EQT Co. (NYSE:EQT) by 70.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,387 shares of the oil and gas producer’s stock after purchasing an additional 30,405 shares during the quarter. State of Alaska Department of Revenue’s holdings in EQT were worth $2,836,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new position in EQT during the 2nd quarter worth $33,000. BKM Wealth Management LLC purchased a new stake in shares of EQT during the fourth quarter worth about $40,000. Belpointe Asset Management LLC increased its holdings in shares of EQT by 270.0% during the first quarter. Belpointe Asset Management LLC now owns 1,258 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 918 shares in the last quarter. Tyler Stone Wealth Management purchased a new position in shares of EQT in the 2nd quarter valued at approximately $40,000. Finally, Clearstead Advisors LLC acquired a new stake in EQT in the 3rd quarter worth approximately $41,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EQT shares. Piper Sandler raised their price target on shares of EQT from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Jefferies Financial Group lowered their price target on EQT from $50.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, March 25th. The Goldman Sachs Group cut their price objective on EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday. Truist Financial decreased their target price on EQT from $41.00 to $39.00 and set a “hold” rating for the company in a report on Thursday, February 15th. Finally, StockNews.com upgraded shares of EQT to a “sell” rating in a report on Tuesday, March 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $43.50.

EQT Stock Performance

Shares of NYSE EQT opened at $37.19 on Thursday. The company has a market capitalization of $16.38 billion, a PE ratio of 8.75 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The company’s fifty day moving average price is $35.47 and its 200 day moving average price is $38.30. EQT Co. has a 1 year low of $30.84 and a 1 year high of $45.23.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. EQT had a net margin of 25.12% and a return on equity of 7.12%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the company posted $0.42 EPS. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, research analysts predict that EQT Co. will post 2.42 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Friday, February 16th. EQT’s dividend payout ratio (DPR) is presently 14.82%.

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.