Elo Mutual Pension Insurance Co Reduces Holdings in EQT Co. (NYSE:EQT)

Elo Mutual Pension Insurance Co decreased its holdings in shares of EQT Co. (NYSE:EQT) by 6.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 33,474 shares of the oil and gas producer’s stock after selling 2,231 shares during the period. Elo Mutual Pension Insurance Co’s holdings in EQT were worth $1,238,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. California State Teachers Retirement System boosted its position in EQT by 3.6% in the fourth quarter. California State Teachers Retirement System now owns 538,463 shares of the oil and gas producer’s stock valued at $20,817,000 after buying an additional 18,804 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in EQT by 421.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 64,900 shares of the oil and gas producer’s stock valued at $2,509,000 after buying an additional 52,443 shares during the last quarter. Cibc World Markets Corp boosted its position in EQT by 162.4% in the fourth quarter. Cibc World Markets Corp now owns 52,370 shares of the oil and gas producer’s stock valued at $2,025,000 after buying an additional 32,409 shares during the last quarter. Third Point LLC purchased a new stake in EQT in the fourth quarter valued at approximately $75,387,000. Finally, Cetera Investment Advisers purchased a new stake in EQT in the first quarter valued at approximately $2,274,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Trading Up 0.3 %

Shares of EQT stock opened at $34.83 on Friday. The stock has a 50 day simple moving average of $33.28 and a 200-day simple moving average of $36.45. EQT Co. has a 1-year low of $30.02 and a 1-year high of $45.23. 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 company has a market cap of $15.38 billion, a price-to-earnings ratio of 25.24 and a beta of 1.06.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating 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 firm had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company earned ($0.17) EPS. The firm’s revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts expect that EQT Co. will post 1.44 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.81%. The ex-dividend date was Wednesday, August 7th. EQT’s dividend payout ratio is currently 45.65%.

Analyst Ratings Changes

A number of equities research analysts recently commented on EQT shares. UBS Group dropped their target price on EQT from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday. Citigroup restated a “neutral” rating and issued a $37.00 price objective on shares of EQT in a research report on Friday, August 23rd. Truist Financial lowered their price objective on EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $40.00 to $42.00 in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. lowered their price objective on EQT from $42.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.28.

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.