Kentucky Retirement Systems Insurance Trust Fund Sells 1,080 Shares of EQT Co. (NYSE:EQT)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in shares of EQT Co. (NYSE:EQT) by 7.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 13,574 shares of the oil and gas producer’s stock after selling 1,080 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in EQT were worth $503,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Wealth Management Group LLC bought a new stake in EQT during the fourth quarter valued at about $30,000. Principal Securities Inc. purchased a new stake in EQT in the fourth quarter valued at about $51,000. EntryPoint Capital LLC purchased a new stake in EQT in the first quarter valued at about $54,000. First United Bank & Trust purchased a new stake in EQT in the fourth quarter valued at about $69,000. Finally, Allworth Financial LP raised its stake in EQT by 72.1% in the fourth quarter. Allworth Financial LP now owns 2,292 shares of the oil and gas producer’s stock valued at $89,000 after buying an additional 960 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Price Performance

EQT stock traded down $0.48 during mid-day trading on Monday, hitting $33.83. 2,401,886 shares of the company were exchanged, compared to its average volume of 7,106,403. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The business’s 50 day simple moving average is $38.32 and its two-hundred day simple moving average is $37.29. The company has a market capitalization of $14.94 billion, a P/E ratio of 24.86 and a beta of 1.12. EQT Co. has a 12-month low of $32.07 and a 12-month high of $45.23.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.17) earnings per share. Analysts forecast that EQT Co. will post 1.41 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 given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Wednesday, August 7th. EQT’s dividend payout ratio is currently 45.65%.

Insider Buying and Selling at EQT

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Piper Sandler reduced their price objective on EQT from $47.00 to $43.00 and set an “overweight” rating for the company in a research note on Thursday. Sanford C. Bernstein upgraded EQT from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $27.00 to $34.00 in a research note on Wednesday, April 10th. StockNews.com upgraded EQT to a “sell” rating in a research note on Friday. Wolfe Research initiated coverage on EQT in a research note on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price objective for the company. Finally, Jefferies Financial Group boosted their price target on EQT from $43.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.50.

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.