24,900 Shares in EQT Co. (NYSE:EQT) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in shares of EQT Co. (NYSE:EQT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 24,900 shares of the oil and gas producer’s stock, valued at approximately $963,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of EQT. IFP Advisors Inc raised its stake in EQT by 102.6% during the third quarter. IFP Advisors Inc now owns 5,797 shares of the oil and gas producer’s stock valued at $235,000 after buying an additional 2,935 shares in the last quarter. Global Retirement Partners LLC raised its stake in EQT by 145.4% during the third quarter. Global Retirement Partners LLC now owns 1,936 shares of the oil and gas producer’s stock valued at $77,000 after buying an additional 1,147 shares in the last quarter. RFG Advisory LLC raised its stake in EQT by 9.3% during the third quarter. RFG Advisory LLC now owns 5,713 shares of the oil and gas producer’s stock valued at $232,000 after buying an additional 487 shares in the last quarter. Founders Financial Securities LLC raised its stake in EQT by 7.5% during the third quarter. Founders Financial Securities LLC now owns 14,470 shares of the oil and gas producer’s stock valued at $587,000 after buying an additional 1,011 shares in the last quarter. Finally, Miller Howard Investments Inc. NY raised its stake in EQT by 1.0% during the third quarter. Miller Howard Investments Inc. NY now owns 39,554 shares of the oil and gas producer’s stock valued at $1,605,000 after buying an additional 385 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Performance

Shares of NYSE EQT opened at $39.42 on Thursday. The stock has a fifty day moving average price of $36.19 and a two-hundred day moving average price of $38.00. 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 firm has a market cap of $17.36 billion, a P/E ratio of 9.28 and a beta of 1.12. EQT Co. has a 1 year low of $30.84 and a 1 year high of $45.23.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.58 billion. EQT had a return on equity of 7.12% and a net margin of 25.12%. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period last year, the company posted $1.70 EPS. Research analysts forecast that EQT Co. will post 0.99 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s payout ratio is currently 14.82%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Sanford C. Bernstein upgraded EQT from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $27.00 to $34.00 in a research note on Wednesday, April 10th. Piper Sandler lowered their target price on EQT from $47.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Scotiabank raised EQT from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $40.00 to $52.00 in a report on Thursday, April 11th. Mizuho upped their target price on EQT from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, Truist Financial lowered their target price on EQT from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.06.

EQT 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.