Vestcor Inc Has $10.88 Million Position in EQT Co. (NYSE:EQT)

Vestcor Inc increased its stake in EQT Co. (NYSE:EQT) by 3.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 235,941 shares of the oil and gas producer’s stock after purchasing an additional 6,765 shares during the quarter. Vestcor Inc’s holdings in EQT were worth $10,879,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its holdings in EQT by 104.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after purchasing an additional 32,484 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in EQT by 36.7% in the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after purchasing an additional 35,733 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in EQT by 44.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer’s stock worth $2,379,000 after purchasing an additional 16,416 shares during the last quarter. FMR LLC lifted its holdings in EQT by 2.5% in the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock worth $41,520,000 after purchasing an additional 28,129 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in EQT by 13.4% in the 4th quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock worth $298,000 after purchasing an additional 762 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Price Performance

EQT stock opened at $49.03 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The firm has a market cap of $29.29 billion, a P/E ratio of 122.57, a P/E/G ratio of 0.64 and a beta of 1.12. The business’s fifty day moving average is $50.71 and its two-hundred day moving average is $43.28. 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 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. Equities research analysts forecast that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Tuesday, February 18th. EQT’s dividend payout ratio is currently 157.50%.

Analysts Set New Price Targets

Several research firms recently weighed in on EQT. Sanford C. Bernstein upgraded EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price for the company in a report on Wednesday, January 15th. Morgan Stanley upped their price target on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Piper Sandler upped their price target on EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Truist Financial upped their price target on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $52.44.

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.