State of New Jersey Common Pension Fund D Sells 19,147 Shares of EQT Corporation $EQT

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in EQT Corporation by 9.2%, selling 19,147 shares in the first quarter and retaining 188,234 shares valued at approximately $10 million.
• EQT Corporation reported $0.45 earnings per share for the last quarter, missing analysts' estimates of $0.52, with revenue falling short at $1.60 billion against forecasts of $1.78 billion.
• The company declared a quarterly dividend of $0.1575 per share, reflecting an annualized dividend yield of 1.2%, with a dividend payout ratio of 34.05%.

State of New Jersey Common Pension Fund D lessened its position in EQT Corporation (NYSE:EQT - Free Report) by 9.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 188,234 shares of the oil and gas producer's stock after selling 19,147 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in EQT were worth $10,057,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of EQT. Slate Path Capital LP acquired a new stake in EQT in the 4th quarter worth $123,575,000. Castle Hook Partners LP grew its position in 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 worth $184,012,000 after purchasing an additional 2,658,375 shares during the last quarter. Nuveen LLC acquired a new stake in EQT in the 1st quarter worth $120,252,000. Vanguard Group Inc. grew its position in EQT by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer's stock worth $3,955,922,000 after purchasing an additional 1,509,054 shares during the last quarter. Finally, Encompass Capital Advisors LLC acquired a new stake in EQT in the 4th quarter worth $59,627,000. Institutional investors own 90.81% of the company's stock.

Insider Transactions at EQT

In other EQT news, EVP Sarah Fenton sold 12,438 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the completion of the transaction, the executive vice president directly owned 13,297 shares of the company's stock, valued at approximately $690,646.18. The trade was a 48.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Vicky A. Bailey sold 4,259 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total transaction of $219,594.04. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EQT shares. Wells Fargo & Company raised their price target on shares of EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Scotiabank lifted their target price on shares of EQT from $66.00 to $68.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 13th. Royal Bank Of Canada lifted their target price on shares of EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 8th. Melius initiated coverage on shares of EQT in a research report on Wednesday. They set a "buy" rating and a $64.00 target price on the stock. Finally, Morgan Stanley reiterated an "overweight" rating on shares of EQT in a research report on Tuesday, July 15th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, EQT has an average rating of "Moderate Buy" and a consensus price target of $62.14.

EQT Price Performance

NYSE:EQT traded down $0.1340 on Friday, reaching $51.9160. The stock had a trading volume of 4,768,066 shares, compared to its average volume of 7,375,581. The company has a market capitalization of $32.40 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 0.38 and a beta of 0.59. EQT Corporation has a 1-year low of $31.45 and a 1-year high of $61.02. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average price of $54.91 and a 200-day moving average price of $53.13.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same quarter last year, the firm earned ($0.08) earnings per share. Research analysts forecast that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be given a $0.1575 dividend. The ex-dividend date is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.2%. EQT's payout ratio is 34.05%.

EQT 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.