New Mexico Educational Retirement Board Reduces Stock Holdings in EQT Co. (NYSE:EQT)

New Mexico Educational Retirement Board lessened its position in shares of EQT Co. (NYSE:EQT) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,300 shares of the oil and gas producer’s stock after selling 700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in EQT were worth $1,305,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of EQT by 38.7% in the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after buying an additional 20,700,921 shares during the period. Modera Wealth Management LLC acquired a new stake in shares of EQT in the third quarter valued at approximately $562,494,000. State Street Corp increased its holdings in shares of EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after purchasing an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after purchasing an additional 3,582,418 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in EQT by 386.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock worth $205,830,000 after acquiring an additional 3,454,741 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EQT shares. Citigroup lifted their price objective on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. UBS Group lifted their target price on EQT from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Morgan Stanley boosted their price target on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Finally, Stephens boosted their price target on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and a consensus price target of $51.89.

Insider Buying and Selling at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares of the company’s stock, valued at $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.63% of the company’s stock.

EQT Stock Performance

NYSE:EQT opened at $53.49 on Tuesday. The firm’s 50-day moving average is $48.85 and its 200-day moving average is $41.12. EQT Co. has a 52-week low of $30.02 and a 52-week high of $54.85. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market cap of $31.91 billion, a price-to-earnings ratio of 63.67, a PEG ratio of 0.62 and a beta of 1.08.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be given a $0.1575 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.18%. EQT’s dividend payout ratio (DPR) is presently 75.00%.

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.