EQT Co. (NYSE:EQT) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of EQT Co. (NYSE:EQT) by 69.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,337 shares of the oil and gas producer’s stock after selling 12,251 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in EQT were worth $246,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. D.A. Davidson & CO. increased its position in shares of EQT by 13.4% during the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock worth $298,000 after acquiring an additional 762 shares during the period. Truist Financial Corp increased its position in shares of EQT by 18.0% during the fourth quarter. Truist Financial Corp now owns 28,638 shares of the oil and gas producer’s stock worth $1,321,000 after acquiring an additional 4,375 shares during the period. CIBC Asset Management Inc increased its position in shares of EQT by 4.8% during the fourth quarter. CIBC Asset Management Inc now owns 90,492 shares of the oil and gas producer’s stock worth $4,173,000 after acquiring an additional 4,139 shares during the period. Sanctuary Advisors LLC increased its position in shares of EQT by 2.2% during the fourth quarter. Sanctuary Advisors LLC now owns 64,911 shares of the oil and gas producer’s stock worth $2,993,000 after acquiring an additional 1,404 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of EQT by 1.3% during the fourth quarter. Principal Financial Group Inc. now owns 709,517 shares of the oil and gas producer’s stock worth $32,716,000 after acquiring an additional 8,803 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Price Performance

Shares of EQT opened at $54.34 on Thursday. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. The company has a market capitalization of $32.42 billion, a price-to-earnings ratio of 64.69, a price-to-earnings-growth ratio of 0.65 and a beta of 1.08. The firm has a 50-day simple moving average of $49.26 and a 200-day simple moving average of $41.41. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.19. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. On average, equities research analysts anticipate that EQT Co. will post 1.38 earnings per share for the current year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be given a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.16%. EQT’s payout ratio is currently 75.00%.

Analyst Upgrades and Downgrades

EQT has been the topic of a number of recent research reports. Mizuho raised EQT from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $48.00 to $57.00 in a research report on Monday, December 16th. Bank of America initiated coverage on EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. increased their target price on EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. The Goldman Sachs Group increased their target price on EQT from $59.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Stephens increased their target price on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.89.

Insider Activity at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.63% of the stock is owned by insiders.

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.