Kentucky Retirement Systems Has $1.23 Million Holdings in EQT Co. (NYSE:EQT)

Kentucky Retirement Systems lifted its holdings in shares of EQT Co. (NYSE:EQT) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,277 shares of the oil and gas producer’s stock after purchasing an additional 2,039 shares during the period. Kentucky Retirement Systems’ holdings in EQT were worth $1,231,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in EQT by 22.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after buying an additional 11,993,729 shares during the period. Bank of New York Mellon Corp lifted its holdings in EQT by 27.9% in the first quarter. Bank of New York Mellon Corp now owns 19,883,694 shares of the oil and gas producer’s stock valued at $737,089,000 after buying an additional 4,339,407 shares during the period. Vanguard Group Inc. lifted its holdings in EQT by 8.4% in the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after buying an additional 3,942,802 shares during the period. Third Point LLC acquired a new position in EQT in the fourth quarter valued at $75,387,000. Finally, Boston Partners lifted its holdings in EQT by 33.7% in the first quarter. Boston Partners now owns 3,834,505 shares of the oil and gas producer’s stock valued at $142,178,000 after buying an additional 966,475 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on EQT. Wolfe Research began coverage on shares of EQT in a report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 target price on the stock. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $42.00 in a report on Wednesday, August 14th. Truist Financial decreased their target price 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. Citigroup reissued a “neutral” rating and set a $37.00 target price on shares of EQT in a research report on Friday, August 23rd. Finally, Mizuho decreased their target price on shares of EQT from $45.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $43.28.

EQT Stock Up 0.3 %

EQT opened at $34.83 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. The stock has a market cap of $15.38 billion, a price-to-earnings ratio of 25.24 and a beta of 1.06. EQT Co. has a twelve month low of $30.02 and a twelve month high of $45.23. The company’s 50-day moving average price is $33.28 and its two-hundred day moving average price is $36.44.

EQT (NYSE:EQT) last released its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. The firm had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The company’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) earnings per share. As a group, equities analysts expect that EQT Co. will post 1.44 earnings per share for the current year.

EQT Dividend Announcement

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 1.81%. The ex-dividend date was Wednesday, August 7th. EQT’s payout ratio is 45.65%.

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.