State of New Jersey Common Pension Fund D Has $9.56 Million Stock Position in EQT Co. (NYSE:EQT)

State of New Jersey Common Pension Fund D reduced its position in EQT Co. (NYSE:EQT) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 207,381 shares of the oil and gas producer’s stock after selling 1,516 shares during the period. State of New Jersey Common Pension Fund D’s holdings in EQT were worth $9,562,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in EQT. Wilmington Savings Fund Society FSB grew its stake in shares of EQT by 4.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer’s stock worth $218,000 after purchasing an additional 223 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of EQT by 15.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer’s stock worth $79,000 after purchasing an additional 236 shares during the period. Radnor Capital Management LLC grew its stake in shares of EQT by 0.4% during the fourth quarter. Radnor Capital Management LLC now owns 60,948 shares of the oil and gas producer’s stock worth $2,810,000 after purchasing an additional 237 shares during the period. Waldron Private Wealth LLC grew its stake in shares of EQT by 0.7% during the fourth quarter. Waldron Private Wealth LLC now owns 37,323 shares of the oil and gas producer’s stock worth $1,721,000 after purchasing an additional 251 shares during the period. Finally, Greenleaf Trust grew its stake in shares of EQT by 1.8% during the fourth quarter. Greenleaf Trust now owns 19,477 shares of the oil and gas producer’s stock worth $898,000 after purchasing an additional 349 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Performance

Shares of EQT stock opened at $53.75 on Wednesday. The firm has a market cap of $32.07 billion, a price-to-earnings ratio of 63.99, a price-to-earnings-growth ratio of 0.62 and a beta of 1.08. The stock’s 50-day moving average is $49.05 and its 200-day moving average is $41.26. EQT Co. has a one year low of $30.02 and a one year high of $54.85. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

EQT (NYSE:EQT) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.19. EQT had a return on equity of 3.74% and a net margin of 5.52%. Equities analysts predict that EQT Co. will post 1.38 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a dividend of $0.1575 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.63 annualized dividend and a yield of 1.17%. EQT’s payout ratio is presently 75.00%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EQT. Piper Sandler lifted their price objective on EQT from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Morgan Stanley lifted their price objective on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Truist Financial boosted 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. Citigroup boosted their target price on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company boosted their target price on EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, EQT has an average rating of “Moderate Buy” and a consensus target price of $51.89.

Insider Buying and Selling

In related news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

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.