Maryland State Retirement & Pension System Trims Position in EQT Co. (NYSE:EQT)

Maryland State Retirement & Pension System lessened its position in shares of EQT Co. (NYSE:EQT) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,465 shares of the oil and gas producer’s stock after selling 2,214 shares during the quarter. Maryland State Retirement & Pension System’s holdings in EQT were worth $1,451,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after purchasing an additional 20,700,921 shares during the period. State Street Corp grew its holdings in EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after purchasing an additional 7,290,822 shares during the period. Geode Capital Management LLC grew its holdings in EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after purchasing an additional 3,582,418 shares during the period. Boston Partners grew its holdings in EQT by 7.2% during the fourth quarter. Boston Partners now owns 6,356,476 shares of the oil and gas producer’s stock valued at $293,213,000 after purchasing an additional 429,630 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in EQT by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,093,857 shares of the oil and gas producer’s stock valued at $234,878,000 after purchasing an additional 80,799 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Price Performance

Shares of EQT stock opened at $52.89 on Friday. EQT Co. has a 12 month low of $30.02 and a 12 month high of $56.66. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average of $51.25 and a 200 day moving average of $44.20. The firm has a market cap of $31.60 billion, a PE ratio of 132.23, a PEG ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. On average, research analysts expect that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a dividend of $0.1575 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.19%. EQT’s dividend payout ratio (DPR) is presently 157.50%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EQT shares. Truist Financial boosted their price target on EQT from $41.00 to $56.00 and gave the company a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company boosted their price target on EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday. Piper Sandler boosted their price target on EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Jefferies Financial Group upped their price objective on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Citigroup upped their price objective on EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.50.

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.