National Pension Service Has $75.11 Million Holdings in EQT Corporation $EQT

National Pension Service increased its holdings in shares of EQT Corporation (NYSE:EQT) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,412,717 shares of the oil and gas producer’s stock after acquiring an additional 37,744 shares during the quarter. National Pension Service owned about 0.23% of EQT worth $75,114,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of EQT during the 2nd quarter worth approximately $3,204,125,000. California State Teachers Retirement System raised its position in shares of EQT by 5,000.6% in the second quarter. California State Teachers Retirement System now owns 36,749,722 shares of the oil and gas producer’s stock valued at $1,953,983,000 after buying an additional 36,029,223 shares in the last quarter. Wellington Management Group LLP raised its position in shares of EQT by 41.4% in the second quarter. Wellington Management Group LLP now owns 22,565,479 shares of the oil and gas producer’s stock valued at $1,199,807,000 after buying an additional 6,603,286 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of EQT in the second quarter valued at approximately $512,148,000. Finally, Bank of America Corp DE grew its position in EQT by 7.2% during the second quarter. Bank of America Corp DE now owns 4,240,709 shares of the oil and gas producer’s stock worth $225,478,000 after buying an additional 284,244 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Trading Down 1.6%

Shares of EQT stock opened at $54.08 on Friday. The stock’s fifty day moving average price is $52.90 and its two-hundred day moving average price is $56.20. The company has a market cap of $33.83 billion, a PE ratio of 12.55 and a beta of 0.58. EQT Corporation has a fifty-two week low of $47.94 and a fifty-two week high of $68.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67.

EQT (NYSE:EQT) last released its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. The business’s revenue was down 29.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 EPS. Equities analysts predict that EQT Corporation will post 3.96 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, August 5th. EQT’s dividend payout ratio is currently 15.31%.

Insider Transactions at EQT

In other EQT news, CEO Toby Rice sold 175,328 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $55.03, for a total value of $9,648,299.84. Following the sale, the chief executive officer owned 2,157,865 shares in the company, valued at $118,747,310.95. This trade represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on EQT. Weiss Ratings lowered EQT from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Barclays cut their target price on EQT from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Zacks Research raised EQT from a “strong sell” rating to a “hold” rating in a report on Thursday, August 27th. Stifel Nicolaus started coverage on EQT in a research report on Wednesday. They issued a “buy” rating and a $66.00 price target on the stock. Finally, Wall Street Zen downgraded EQT from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

About EQT

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company primarily develops and operates unconventional oil and gas properties in the Appalachian Basin, with a focus on natural gas production from the Marcellus and Utica shale formations.

EQT’s products include natural gas, natural gas liquids and condensate. Its operations span drilling, well completion, production and related gathering activities, supporting the delivery of energy to utilities, industrial customers, marketers and other buyers.