Retirement Systems of Alabama Grows Position in EQT Co. (NYSE:EQT)

Retirement Systems of Alabama grew its position in shares of EQT Co. (NYSE:EQT) by 7.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,409 shares of the oil and gas producer’s stock after purchasing an additional 6,622 shares during the quarter. Retirement Systems of Alabama’s holdings in EQT were worth $3,602,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC purchased a new position in EQT in the fourth quarter valued at $30,000. Wolff Wiese Magana LLC increased its stake in shares of EQT by 936.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 908 shares in the last quarter. Blue Trust Inc. raised its holdings in EQT by 149.5% in the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 598 shares during the period. Principal Securities Inc. purchased a new position in EQT during the fourth quarter worth approximately $51,000. Finally, EntryPoint Capital LLC purchased a new position in EQT during the first quarter worth approximately $54,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Stock Performance

EQT stock opened at $32.75 on Wednesday. The stock has a market cap of $14.46 billion, a price-to-earnings ratio of 23.73 and a beta of 1.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a 50 day simple moving average of $34.75 and a 200-day simple moving average of $36.80. EQT Co. has a 1-year low of $30.02 and a 1-year high of $45.23.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The company had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the firm earned ($0.17) earnings per share. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, analysts expect that EQT Co. will post 1.4 EPS for the current year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.63 annualized dividend and a yield of 1.92%. EQT’s dividend payout ratio (DPR) is currently 45.65%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EQT shares. StockNews.com raised EQT to a “sell” rating in a research note on Friday, July 26th. Stephens dropped their target price on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Truist Financial reduced their price target on shares of EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Mizuho lifted their price objective on EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Finally, Piper Sandler cut EQT from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $43.00 to $32.00 in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, EQT has an average rating of “Hold” and a consensus price target of $44.67.

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.