State of New Jersey Common Pension Fund D Sells 60,605 Shares of EQT Co. (NYSE:EQT)

State of New Jersey Common Pension Fund D reduced its stake in shares of EQT Co. (NYSE:EQT) by 28.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 155,612 shares of the oil and gas producer’s stock after selling 60,605 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in EQT were worth $5,755,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. HHM Wealth Advisors LLC acquired a new position in shares of EQT during the 2nd quarter worth about $78,000. Brasada Capital Management LP grew its position in shares of EQT by 50.0% during the 2nd quarter. Brasada Capital Management LP now owns 12,000 shares of the oil and gas producer’s stock worth $446,000 after buying an additional 4,000 shares during the period. SIR Capital Management L.P. grew its position in shares of EQT by 3,723.8% during the 2nd quarter. SIR Capital Management L.P. now owns 772,400 shares of the oil and gas producer’s stock worth $28,563,000 after buying an additional 752,200 shares during the period. Daiwa Securities Group Inc. grew its position in shares of EQT by 12.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 51,407 shares of the oil and gas producer’s stock worth $1,901,000 after buying an additional 5,529 shares during the period. Finally, Choreo LLC acquired a new position in shares of EQT in the 2nd quarter valued at approximately $658,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EQT has been the subject of several research analyst reports. Piper Sandler lowered EQT from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $43.00 to $32.00 in a research report on Thursday, August 15th. JPMorgan Chase & Co. decreased their price objective on EQT from $42.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $42.00 in a research report on Wednesday, August 14th. Scotiabank boosted their price objective on EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Friday, July 12th. Finally, Citigroup reiterated a “neutral” rating and issued a $37.00 price objective on shares of EQT in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.82.

EQT Trading Up 1.0 %

Shares of EQT stock opened at $33.19 on Monday. EQT Co. has a 12-month low of $30.02 and a 12-month high of $45.23. The stock has a market cap of $14.66 billion, a P/E ratio of 24.05 and a beta of 1.06. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $33.56 and its 200-day moving average is $36.55.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The company had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the business posted ($0.17) EPS. The business’s revenue was down 6.5% compared to the same quarter last year. Equities research analysts predict that EQT Co. will post 1.44 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Wednesday, August 7th. EQT’s dividend payout ratio is currently 45.65%.

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.