Public Employees Retirement System of Ohio Trims Stake in EQT Co. (NYSE:EQT)

Public Employees Retirement System of Ohio decreased its holdings in shares of EQT Co. (NYSE:EQT - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,472 shares of the oil and gas producer's stock after selling 11,591 shares during the period. Public Employees Retirement System of Ohio's holdings in EQT were worth $9,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in EQT by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer's stock valued at $3,344,371,000 after purchasing an additional 358,649 shares during the period. Geode Capital Management LLC grew its stake in shares of EQT by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer's stock valued at $663,552,000 after acquiring an additional 429,733 shares during the period. Capital International Investors increased its holdings in 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 worth $638,867,000 after acquiring an additional 2,433,632 shares in the last quarter. Clearbridge Investments LLC raised its stake in EQT by 14.7% during the 4th quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer's stock worth $637,698,000 after acquiring an additional 1,774,696 shares during the period. Finally, Invesco Ltd. raised its stake in EQT by 46.3% during the 4th 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 during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Price Performance

Shares of EQT stock traded down $0.37 during trading hours on Friday, reaching $55.00. The company's stock had a trading volume of 7,853,187 shares, compared to its average volume of 7,909,030. The firm has a 50 day moving average price of $52.29 and a 200-day moving average price of $49.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The stock has a market cap of $32.92 billion, a P/E ratio of 137.50, a P/E/G ratio of 0.64 and a beta of 0.59. EQT Co. has a one year low of $30.02 and a one year high of $57.37.

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 for the quarter, topping the consensus estimate of $0.98 by $0.20. EQT had a return on equity of 4.35% and a net margin of 4.37%. The company had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.16 billion. On average, analysts predict that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be issued a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.15%. EQT's payout ratio is presently 110.53%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on EQT shares. Wall Street Zen downgraded shares of EQT from a "hold" rating to a "sell" rating in a report on Monday, April 7th. Stephens dropped their price objective on EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. 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. Morgan Stanley upped their price target on EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, TD Cowen upgraded shares of 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 analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $57.11.

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.