EQT Corporation (NYSE:EQT) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its position in shares of EQT Corporation (NYSE:EQT - Free Report) by 10.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 632,888 shares of the oil and gas producer's stock after purchasing an additional 60,956 shares during the period. New York State Common Retirement Fund owned 0.11% of EQT worth $33,815,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas bought a new position in shares of EQT during the fourth quarter valued at approximately $244,000. Aviva PLC bought a new stake in EQT in the 4th quarter worth approximately $14,719,000. Axxcess Wealth Management LLC grew its position in EQT by 7.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 6,661 shares of the oil and gas producer's stock worth $356,000 after purchasing an additional 434 shares during the period. Flagship Harbor Advisors LLC bought a new stake in EQT in the 1st quarter worth approximately $226,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of EQT by 101.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 9,039 shares of the oil and gas producer's stock worth $483,000 after acquiring an additional 4,559 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Up 1.5%

Shares of EQT traded up $0.88 during mid-day trading on Wednesday, hitting $59.12. The company's stock had a trading volume of 10,267,250 shares, compared to its average volume of 8,088,577. The company's 50-day moving average is $56.44 and its 200-day moving average is $52.69. EQT Corporation has a 52-week low of $30.02 and a 52-week high of $61.02. The firm has a market capitalization of $35.40 billion, a price-to-earnings ratio of 103.72, a PEG ratio of 0.37 and a beta of 0.65. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.33.

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

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.07%. EQT's payout ratio is 110.53%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a "buy" rating and set a $70.00 price target (up previously from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Stephens decreased their price target on shares of EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley reiterated an "overweight" rating on shares of EQT in a research note on Tuesday. Wells Fargo & Company boosted their target price on shares of EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Finally, Mizuho upgraded shares of EQT to an "outperform" rating and set a $66.00 target price on the stock in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, EQT has a consensus rating of "Moderate Buy" and an average price target of $60.15.

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.