State of Michigan Retirement System Has $8.29 Million Stake in EQT Co. (NYSE:EQT)

State of Michigan Retirement System lowered its holdings in EQT Co. (NYSE:EQT) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 179,700 shares of the oil and gas producer’s stock after selling 10,000 shares during the quarter. State of Michigan Retirement System’s holdings in EQT were worth $8,286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parkside Financial Bank & Trust lifted its stake in shares of EQT by 22.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock valued at $48,000 after buying an additional 193 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of EQT by 4.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer’s stock worth $218,000 after acquiring an additional 223 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in EQT by 15.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer’s stock valued at $79,000 after acquiring an additional 236 shares in the last quarter. Radnor Capital Management LLC boosted its stake in EQT by 0.4% during the 4th quarter. Radnor Capital Management LLC now owns 60,948 shares of the oil and gas producer’s stock valued at $2,810,000 after purchasing an additional 237 shares during the last quarter. Finally, Waldron Private Wealth LLC increased its holdings in EQT by 0.7% during the 4th quarter. Waldron Private Wealth LLC now owns 37,323 shares of the oil and gas producer’s stock worth $1,721,000 after purchasing an additional 251 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Trading Up 0.3 %

Shares of EQT opened at $50.18 on Thursday. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. The business has a 50-day moving average of $50.48 and a 200 day moving average of $42.77. The firm has a market cap of $29.98 billion, a P/E ratio of 125.44, a price-to-earnings-growth ratio of 0.64 and a beta of 1.08. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.19. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. As a group, research analysts forecast that EQT Co. will post 3.27 EPS for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.1575 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.26%. EQT’s payout ratio is 157.50%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on EQT shares. Sanford C. Bernstein raised EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a research report on Wednesday, January 15th. Scotiabank downgraded shares of EQT from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $55.00 to $54.00 in a report on Friday, January 17th. JPMorgan Chase & Co. increased their target price on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Citigroup boosted their price target on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Truist Financial increased their price objective on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, EQT has a consensus rating of “Hold” and an average target price of $52.39.

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.