Treasurer of the State of North Carolina Has $11.95 Million Stock Holdings in EQT Co. (NYSE:EQT)

Treasurer of the State of North Carolina boosted its position in EQT Co. (NYSE:EQT) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 259,170 shares of the oil and gas producer’s stock after acquiring an additional 1,630 shares during the period. Treasurer of the State of North Carolina’s holdings in EQT were worth $11,950,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC boosted its stake in shares of EQT by 12.6% in the 4th quarter. Neuberger Berman Group LLC now owns 4,707,109 shares of the oil and gas producer’s stock valued at $217,044,000 after purchasing an additional 525,533 shares during the last quarter. Phoenix Financial Ltd. bought a new position in EQT in the fourth quarter valued at approximately $2,726,000. Bessemer Group Inc. grew its holdings in EQT by 10.9% during the 4th quarter. Bessemer Group Inc. now owns 19,028 shares of the oil and gas producer’s stock worth $877,000 after acquiring an additional 1,874 shares during the period. CenterBook Partners LP acquired a new stake in EQT during the 4th quarter worth $2,197,000. Finally, DRW Securities LLC raised its position in shares of EQT by 26.1% during the 4th quarter. DRW Securities LLC now owns 50,683 shares of the oil and gas producer’s stock valued at $2,337,000 after acquiring an additional 10,500 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Stock Up 2.4 %

Shares of EQT stock opened at $49.66 on Friday. The firm has a market cap of $29.67 billion, a PE ratio of 124.16, a P/E/G ratio of 0.64 and a beta of 1.35. The business’s 50 day simple moving average is $50.93 and its 200 day simple moving average is $46.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. EQT Co. has a 52-week low of $30.02 and a 52-week high of $56.66.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. EQT had a net margin of 4.37% and a return on equity of 4.35%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. On average, analysts predict that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.27%. EQT’s dividend payout ratio is 157.50%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EQT. Piper Sandler lifted their price objective on EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Jefferies Financial Group boosted their target price on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Scotiabank downgraded shares of EQT from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $55.00 to $54.00 in a research report on Friday, January 17th. JPMorgan Chase & Co. boosted their price objective on shares of EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 13th. Finally, Truist Financial upped 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.72.

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.