State of Tennessee Department of Treasury Grows Stock Holdings in EQT Co. (NYSE:EQT)

State of Tennessee Department of Treasury raised its stake in shares of EQT Co. (NYSE:EQT - Free Report) by 62.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,633 shares of the oil and gas producer's stock after buying an additional 50,053 shares during the quarter. State of Tennessee Department of Treasury's holdings in EQT were worth $6,023,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in EQT by 46.3% in the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer's stock worth $606,059,000 after purchasing an additional 4,162,065 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of EQT by 386.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer's stock worth $205,830,000 after buying an additional 3,454,741 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of EQT during the fourth quarter valued at approximately $113,924,000. Capital International Investors increased its position in shares of EQT by 21.3% during the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock valued at $638,867,000 after acquiring an additional 2,433,632 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in 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 worth $637,698,000 after acquiring an additional 1,774,696 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on EQT shares. Truist Financial increased their target price on EQT from $41.00 to $56.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $49.00 price objective on shares of EQT in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Mizuho raised their price target on shares of EQT from $57.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Finally, Wells Fargo & Company boosted their price objective on shares of EQT from $53.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, EQT currently has an average rating of "Moderate Buy" and an average target price of $55.39.

EQT Price Performance

EQT stock traded down $1.75 during trading on Wednesday, reaching $49.47. The company's stock had a trading volume of 1,830,410 shares, compared to its average volume of 7,786,860. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The company's fifty day moving average is $50.21 and its 200-day moving average is $47.28. The company has a market capitalization of $29.61 billion, a P/E ratio of 123.85, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. EQT Co. has a 1 year low of $30.02 and a 1 year high of $56.66.

EQT (NYSE:EQT - Get Free Report) last released its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) 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 firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.16 billion. On average, research analysts expect that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be given a dividend of $0.1575 per share. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.27%. EQT's dividend payout ratio is 110.53%.

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.