Alaska Permanent Fund Corp Makes New $435,000 Investment in EQT Co. (NYSE:EQT)

Alaska Permanent Fund Corp purchased a new stake in EQT Co. (NYSE:EQT) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 11,254 shares of the oil and gas producer’s stock, valued at approximately $435,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Global Retirement Partners LLC lifted its holdings in shares of EQT by 145.4% in the third quarter. Global Retirement Partners LLC now owns 1,936 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 1,147 shares in the last quarter. Czech National Bank boosted its position in EQT by 47.6% during the 3rd quarter. Czech National Bank now owns 63,210 shares of the oil and gas producer’s stock worth $2,565,000 after acquiring an additional 20,387 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of EQT by 1.7% in the third quarter. Asset Management One Co. Ltd. now owns 152,797 shares of the oil and gas producer’s stock valued at $6,201,000 after purchasing an additional 2,482 shares during the last quarter. Uncommon Cents Investing LLC bought a new position in EQT in the third quarter valued at $236,000. Finally, Commonwealth Equity Services LLC boosted its position in EQT by 1.0% during the third quarter. Commonwealth Equity Services LLC now owns 118,245 shares of the oil and gas producer’s stock valued at $4,798,000 after purchasing an additional 1,124 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Stock Performance

Shares of EQT stock opened at $40.61 on Friday. The firm has a market capitalization of $17.93 billion, a price-to-earnings ratio of 29.43 and a beta of 1.12. The company has a current ratio of 0.88, a quick ratio of 0.99 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average price is $36.43 and its 200-day moving average price is $37.99. EQT Co. has a 12 month low of $30.84 and a 12 month high of $45.23.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.57%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business earned $1.70 EPS. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. Equities research analysts forecast that EQT Co. will post 0.99 EPS for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 8th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s dividend payout ratio is currently 45.65%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on EQT shares. StockNews.com raised shares of EQT to a “sell” rating in a research report on Tuesday, March 12th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $37.00 price target (down previously from $39.00) on shares of EQT in a report on Wednesday, March 20th. Scotiabank raised EQT from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $40.00 to $52.00 in a research report on Thursday, April 11th. The Goldman Sachs Group dropped their price target on EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. Finally, Jefferies Financial Group lifted their price objective on shares of EQT from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $44.25.

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.