State of New Jersey Common Pension Fund D Sells 1,516 Shares of EQT Co. (NYSE:EQT)

State of New Jersey Common Pension Fund D decreased its holdings in EQT Co. (NYSE:EQT) by 0.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 207,381 shares of the oil and gas producer’s stock after selling 1,516 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in EQT were worth $9,562,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of EQT. Wellington Management Group LLP raised its stake in EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after buying an additional 20,700,921 shares during the period. Modera Wealth Management LLC bought a new stake in EQT in the third quarter valued at approximately $562,494,000. State Street Corp raised its stake in EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after buying an additional 7,290,822 shares during the period. Geode Capital Management LLC raised its stake in EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after buying an additional 3,582,418 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of EQT by 386.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock valued at $205,830,000 after purchasing an additional 3,454,741 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Insiders Place Their Bets

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was 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 in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley upped their target price on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Bank of America assumed coverage on EQT in a research report on Monday, October 28th. They issued a “buy” rating and a $50.00 target price on the stock. Piper Sandler upped their target price on EQT from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Citigroup upped their target price on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, UBS Group upped their target price on EQT from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and an average target price of $51.89.

EQT Stock Up 0.6 %

NYSE EQT opened at $53.75 on Wednesday. The business has a fifty day moving average price of $49.05 and a two-hundred day moving average price of $41.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $54.85. The stock has a market capitalization of $32.07 billion, a PE ratio of 63.99, a PEG ratio of 0.62 and a beta of 1.08.

EQT (NYSE:EQT) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.19. EQT had a return on equity of 3.74% and a net margin of 5.52%. Equities analysts expect that EQT Co. will post 1.38 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Tuesday, February 18th. EQT’s payout ratio is presently 75.00%.

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.