State Board of Administration of Florida Retirement System Sells 12,543 Shares of EQT Co. (NYSE:EQT)

State Board of Administration of Florida Retirement System lessened its stake in EQT Co. (NYSE:EQT) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,280 shares of the oil and gas producer’s stock after selling 12,543 shares during the period. State Board of Administration of Florida Retirement System owned 0.08% of EQT worth $12,837,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System raised its position in shares of EQT by 3.6% during the 4th quarter. California State Teachers Retirement System now owns 538,463 shares of the oil and gas producer’s stock valued at $20,817,000 after acquiring an additional 18,804 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of EQT by 421.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 64,900 shares of the oil and gas producer’s stock valued at $2,509,000 after acquiring an additional 52,443 shares during the last quarter. Cibc World Markets Corp raised its position in shares of EQT by 162.4% during the 4th quarter. Cibc World Markets Corp now owns 52,370 shares of the oil and gas producer’s stock valued at $2,025,000 after acquiring an additional 32,409 shares during the last quarter. National Bank of Canada FI raised its position in shares of EQT by 600.0% during the 4th quarter. National Bank of Canada FI now owns 95,871 shares of the oil and gas producer’s stock valued at $3,731,000 after acquiring an additional 82,176 shares during the last quarter. Finally, Third Point LLC bought a new stake in shares of EQT during the 4th quarter valued at $75,387,000. Institutional investors own 90.81% of the company’s stock.

EQT Price Performance

Shares of NYSE EQT opened at $35.87 on Friday. The company has a fifty day moving average price of $38.89 and a 200 day moving average price of $37.42. EQT Co. has a 1-year low of $32.07 and a 1-year high of $45.23. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The firm has a market cap of $15.84 billion, a PE ratio of 25.99 and a beta of 1.12.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.57%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the business posted $1.70 EPS. The company’s quarterly revenue was down 28.8% on a year-over-year basis. Research analysts predict that EQT Co. will post 1.3 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be paid a dividend of $0.1575 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.76%. EQT’s dividend payout ratio is 45.65%.

Analyst Ratings Changes

Several analysts have commented on the stock. Stephens upped their target price on shares of EQT from $46.00 to $47.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. BMO Capital Markets upped their price objective on shares of EQT from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Jefferies Financial Group upped their price objective on shares of EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Wolfe Research initiated coverage on shares of EQT in a research report on Thursday. They issued an “outperform” rating and a $51.00 price objective for the company. Finally, The Goldman Sachs Group lowered their price objective on shares of EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $45.67.

Insider Transactions at EQT

In other news, insider Lesley Evancho sold 46,884 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the completion of the transaction, the insider now directly owns 160,884 shares in the company, valued at approximately $6,642,900.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP William E. Jordan sold 35,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the sale, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Lesley Evancho sold 46,884 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the completion of the sale, the insider now directly owns 160,884 shares in the company, valued at $6,642,900.36. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

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.