California State Teachers Retirement System Raises Stock Holdings in EQT Co. (NYSE:EQT)

California State Teachers Retirement System raised its position in EQT Co. (NYSE:EQTFree Report) by 3.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 538,463 shares of the oil and gas producer’s stock after purchasing an additional 18,804 shares during the period. California State Teachers Retirement System’s holdings in EQT were worth $20,817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Huntington National Bank lifted its stake in EQT by 20.0% in the third quarter. Huntington National Bank now owns 1,792 shares of the oil and gas producer’s stock valued at $73,000 after buying an additional 299 shares during the last quarter. UniSuper Management Pty Ltd increased its holdings in shares of EQT by 13.0% in the third quarter. UniSuper Management Pty Ltd now owns 2,600 shares of the oil and gas producer’s stock valued at $106,000 after purchasing an additional 300 shares during the period. Perigon Wealth Management LLC increased its holdings in shares of EQT by 2.1% in the fourth quarter. Perigon Wealth Management LLC now owns 14,471 shares of the oil and gas producer’s stock valued at $559,000 after purchasing an additional 303 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in shares of EQT by 52.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer’s stock valued at $60,000 after purchasing an additional 539 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of EQT by 8.2% in the fourth quarter. Fifth Third Bancorp now owns 7,964 shares of the oil and gas producer’s stock valued at $308,000 after purchasing an additional 601 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Down 0.7 %

EQT stock opened at $40.66 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $17.96 billion, a price-to-earnings ratio of 29.46 and a beta of 1.06. EQT Co. has a fifty-two week low of $32.07 and a fifty-two week high of $45.23. The stock’s fifty day moving average is $39.23 and its two-hundred day moving average is $37.66.

EQT (NYSE:EQTGet Free Report) last posted its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.58 billion. EQT had a return on equity of 4.57% and a net margin of 10.96%. EQT’s revenue was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.70 earnings per share. Analysts predict that EQT Co. will post 1.03 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th were issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Tuesday, May 7th. EQT’s dividend payout ratio (DPR) is 45.65%.

Insider Buying and Selling at EQT

In other news, insider Lesley Evancho sold 46,884 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the sale, the insider now directly owns 160,884 shares in the company, valued at $6,642,900.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP William E. Jordan sold 35,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the sale, the executive vice president now directly owns 456,837 shares in the company, valued at $18,602,402.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lesley Evancho sold 46,884 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total value of $1,935,840.36. Following the completion of the sale, the insider now owns 160,884 shares in the company, valued at $6,642,900.36. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. TD Cowen assumed coverage on EQT in a report on Friday, April 19th. They issued a “hold” rating and a $43.00 target price on the stock. Piper Sandler reissued an “overweight” rating and issued a $46.00 target price (up previously from $41.00) on shares of EQT in a report on Tuesday, April 30th. Stephens boosted their target price on EQT from $46.00 to $47.00 and gave the company an “equal weight” rating in a report on Wednesday, April 24th. Scotiabank boosted their target price on EQT from $52.00 to $54.00 and gave the company a “sector outperform” rating in a report on Thursday, May 9th. Finally, Morgan Stanley upped their price objective on EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.24.

Read Our Latest Analysis on EQT

EQT Profile

(Free Report)

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.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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