Strs Ohio Sells 7,491 Shares of EQT Co. (NYSE:EQT)

Strs Ohio cut its stake in EQT Co. (NYSE:EQT) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257,791 shares of the oil and gas producer’s stock after selling 7,491 shares during the period. Strs Ohio owned about 0.06% of EQT worth $9,966,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in EQT. Louisiana State Employees Retirement System bought a new stake in EQT during the 4th quarter valued at $963,000. Perigon Wealth Management LLC raised its stake in EQT by 2.1% in the fourth quarter. Perigon Wealth Management LLC now owns 14,471 shares of the oil and gas producer’s stock worth $559,000 after buying an additional 303 shares in the last quarter. Cerity Partners LLC lifted its holdings in EQT by 47.5% during the fourth quarter. Cerity Partners LLC now owns 16,741 shares of the oil and gas producer’s stock worth $647,000 after buying an additional 5,392 shares during the period. Sequoia Financial Advisors LLC bought a new stake in EQT during the 4th quarter valued at $379,000. Finally, International Assets Investment Management LLC purchased a new position in shares of EQT in the 4th quarter valued at $21,220,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Price Performance

Shares of NYSE EQT opened at $36.03 on Thursday. EQT Co. has a 52 week low of $30.84 and a 52 week high of $45.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a market cap of $15.87 billion, a P/E ratio of 8.48 and a beta of 1.12. The business’s 50 day moving average price is $35.85 and its 200 day moving average price is $38.09.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, sell-side analysts expect that EQT Co. will post 1.31 earnings per share for the current year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.75%. EQT’s dividend payout ratio (DPR) is presently 14.82%.

Analyst Upgrades and Downgrades

EQT has been the topic of several analyst reports. Jefferies Financial Group lifted their target price on EQT from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Piper Sandler lifted their price objective on shares of EQT from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $37.00 target price (down from $39.00) on shares of EQT in a research note on Wednesday, March 20th. StockNews.com raised EQT to a “sell” rating in a research report on Tuesday, March 12th. Finally, Truist Financial lowered their price objective on EQT from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $43.13.

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.