Public Sector Pension Investment Board Grows Stock Position in EQT Co. (NYSE:EQT)

Public Sector Pension Investment Board raised its holdings in EQT Co. (NYSE:EQT) by 13.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,692 shares of the oil and gas producer’s stock after buying an additional 9,323 shares during the quarter. Public Sector Pension Investment Board’s holdings in EQT were worth $2,836,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in EQT in the second quarter valued at approximately $28,000. Blue Trust Inc. raised its stake in EQT by 149.5% during the second 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. Wolff Wiese Magana LLC boosted its holdings 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 during the last quarter. Industrial Alliance Investment Management Inc. grew its stake in shares of EQT by 65.5% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 1,440 shares of the oil and gas producer’s stock valued at $53,000 after buying an additional 570 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in shares of EQT during the 1st quarter worth $54,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on EQT. Morgan Stanley reiterated an “overweight” rating and issued a $45.00 target price on shares of EQT in a report on Friday, September 13th. Stephens decreased their target price on EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Citigroup reissued a “neutral” rating and set a $37.00 target price on shares of EQT in a research report on Friday, August 23rd. Wells Fargo & Company raised shares of EQT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $42.00 in a research report on Wednesday, August 14th. Finally, Piper Sandler lowered shares of EQT from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $43.00 to $32.00 in a research 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $42.29.

EQT Price Performance

Shares of NYSE:EQT opened at $36.53 on Friday. The company has a market cap of $16.13 billion, a PE ratio of 26.47 and a beta of 1.06. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $45.23. The firm has a 50-day simple moving average of $33.27 and a 200 day simple moving average of $36.41. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The business had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the firm earned ($0.17) EPS. The business’s quarterly revenue was down 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that EQT Co. will post 1.37 EPS for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Wednesday, August 7th. EQT’s payout ratio is 45.65%.

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.