Louisiana State Employees Retirement System Sells 1,300 Shares of EQT Co. (NYSE:EQT)

Louisiana State Employees Retirement System decreased its holdings in EQT Co. (NYSE:EQT) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,100 shares of the oil and gas producer’s stock after selling 1,300 shares during the period. Louisiana State Employees Retirement System’s holdings in EQT were worth $1,480,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EQT. HM Payson & Co. bought a new stake in EQT in the third quarter worth about $25,000. Truvestments Capital LLC purchased a new position in shares of EQT during the third quarter worth approximately $30,000. Quarry LP increased its position in shares of EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 578 shares during the period. Brown Brothers Harriman & Co. purchased a new position in shares of EQT during the third quarter worth approximately $36,000. Finally, Financial Avengers Inc. increased its holdings in EQT by 100.8% during the third quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 504 shares during the period. Institutional investors own 90.81% of the company’s stock.

Insider Activity at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction dated 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 approximately $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

EQT Price Performance

NYSE EQT opened at $53.49 on Monday. EQT Co. has a 52 week low of $30.02 and a 52 week high of $54.85. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a market cap of $31.91 billion, a price-to-earnings ratio of 63.67, a price-to-earnings-growth ratio of 0.62 and a beta of 1.08. The company has a 50-day moving average price of $48.85 and a two-hundred day moving average price of $41.07.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Tuesday, February 18th. EQT’s dividend payout ratio is 75.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EQT shares. Stephens lifted their price objective on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Piper Sandler raised their target price on shares of EQT from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. raised their target price on shares of EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. The Goldman Sachs Group raised their target price on shares of EQT from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Truist Financial raised their target price on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.89.

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.