Illinois Municipal Retirement Fund Acquires Shares of 85,209 EQT Corporation (NYSE:EQT)

Illinois Municipal Retirement Fund purchased a new stake in shares of EQT Corporation (NYSE:EQT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 85,209 shares of the oil and gas producer's stock, valued at approximately $4,553,000.

Several other hedge funds have also bought and sold shares of EQT. University of Texas Texas AM Investment Management Co. grew its holdings in EQT by 47.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock valued at $44,000 after purchasing an additional 310 shares during the period. EverSource Wealth Advisors LLC grew its holdings in EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock valued at $45,000 after purchasing an additional 205 shares during the period. Parkside Financial Bank & Trust grew its holdings in EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer's stock valued at $48,000 after purchasing an additional 193 shares during the period. Mascagni Wealth Management Inc. bought a new stake in EQT during the fourth quarter valued at about $55,000. Finally, Larson Financial Group LLC grew its holdings in EQT by 1,343.8% during the fourth quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer's stock valued at $64,000 after purchasing an additional 1,290 shares during the period. Institutional investors own 90.81% of the company's stock.

EQT Price Performance

EQT stock traded up $0.17 during midday trading on Friday, reaching $58.32. 10,530,306 shares of the stock traded hands, compared to its average volume of 7,923,655. The stock's fifty day moving average is $54.97 and its 200-day moving average is $51.65. EQT Corporation has a 12 month low of $30.02 and a 12 month high of $61.02. The stock has a market cap of $34.91 billion, a P/E ratio of 102.32, a PEG ratio of 0.35 and a beta of 0.65. 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 data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. As a group, equities research analysts anticipate that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th were given a dividend of $0.1575 per share. The ex-dividend date was Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.08%. EQT's dividend payout ratio (DPR) is presently 110.53%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EQT shares. UBS Group upgraded EQT from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $54.00 to $64.00 in a research report on Monday, May 5th. Piper Sandler boosted their price objective on EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Citigroup boosted their price objective on EQT from $51.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Stephens lowered their price objective on EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, TD Cowen upgraded EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective on the stock in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $58.00.

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.