Teacher Retirement System of Texas Buys 77,565 Shares of EQT Corporation (NYSE:EQT)

Teacher Retirement System of Texas increased its holdings in EQT Corporation (NYSE:EQT - Free Report) by 1,466.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,853 shares of the oil and gas producer's stock after buying an additional 77,565 shares during the period. Teacher Retirement System of Texas' holdings in EQT were worth $4,427,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in shares of EQT by 46.3% during the fourth quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer's stock worth $606,059,000 after acquiring an additional 4,162,065 shares in the last quarter. Slate Path Capital LP bought a new stake in shares of EQT during the 4th quarter valued at about $123,575,000. Castle Hook Partners LP lifted its stake in shares of EQT by 199.5% in the 4th quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer's stock valued at $184,012,000 after purchasing an additional 2,658,375 shares during the period. Capital International Investors lifted its stake in shares of EQT by 21.3% in the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock valued at $638,867,000 after purchasing an additional 2,433,632 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in shares of EQT by 14.7% in the 4th quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer's stock valued at $637,698,000 after purchasing an additional 1,774,696 shares during the period. Institutional investors own 90.81% of the company's stock.

EQT Trading Up 1.5%

EQT traded up $0.81 during trading on Friday, reaching $55.33. The company had a trading volume of 5,152,372 shares, compared to its average volume of 8,025,267. The stock has a market cap of $33.13 billion, a P/E ratio of 97.07, a PEG ratio of 0.35 and a beta of 0.65. The business has a 50 day simple moving average of $56.07 and a 200-day simple moving average of $52.32. EQT Corporation has a 52 week low of $30.02 and a 52 week high of $61.02. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.20. EQT had a return on equity of 5.52% and a net margin of 6.59%. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. On average, equities analysts anticipate that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th were issued a $0.1575 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.14%. EQT's payout ratio is 110.53%.

Analyst Ratings Changes

EQT has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a "buy" rating and set a $70.00 price objective (up previously from $60.00) on shares of EQT in a research note on Tuesday. Barclays began coverage on EQT in a research report on Monday. They set an "overweight" rating and a $65.00 price objective for the company. Scotiabank increased their price objective on shares of EQT from $62.00 to $66.00 and gave the stock a "sector perform" rating in a research note on Friday. Piper Sandler lifted their target price on EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Finally, Morgan Stanley lifted their target price on EQT from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, EQT has a consensus rating of "Moderate Buy" and a consensus price target of $60.15.

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.