EQT Co. (NYSE:EQT) Stock Position Decreased by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its stake in shares of EQT Co. (NYSE:EQT) by 13.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,175 shares of the oil and gas producer’s stock after selling 11,856 shares during the period. Texas Permanent School Fund Corp’s holdings in EQT were worth $2,706,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in EQT during the second quarter valued at about $28,000. Blue Trust Inc. lifted its position in shares of EQT by 149.5% in the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 598 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in 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 worth $37,000 after purchasing an additional 908 shares during the period. Principal Securities Inc. purchased a new position in EQT during the 4th quarter worth approximately $51,000. Finally, Industrial Alliance Investment Management Inc. raised its stake in 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 purchasing an additional 570 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EQT. StockNews.com upgraded EQT to a “sell” rating in a report on Friday, July 26th. Citigroup reaffirmed a “neutral” rating and set a $37.00 target price on shares of EQT in a research note on Friday, August 23rd. Stephens reduced their price target on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Mizuho lowered their price objective on shares of EQT from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Scotiabank increased their target price on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $43.71.

EQT Price Performance

Shares of EQT stock opened at $33.55 on Tuesday. 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 fifty day moving average price of $33.51 and a two-hundred day moving average price of $36.53. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $45.23. The company has a market cap of $14.82 billion, a PE ratio of 24.31 and a beta of 1.06.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. The company had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The company’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.17) EPS. Analysts expect that EQT Co. will post 1.44 EPS for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Wednesday, August 7th. EQT’s dividend 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.