EQT Co. (NYSE:EQT) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System decreased its position in shares of EQT Co. (NYSE:EQT) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 304,581 shares of the oil and gas producer’s stock after selling 8,304 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in EQT were worth $6,232,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in EQT. Fifth Third Bancorp boosted its holdings in shares of EQT by 6,854.3% during the third quarter. Fifth Third Bancorp now owns 4,868 shares of the oil and gas producer’s stock valued at $100,000 after acquiring an additional 4,798 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of EQT during the second quarter valued at $104,000. Rockefeller Capital Management L.P. boosted its holdings in shares of EQT by 11.5% during the second quarter. Rockefeller Capital Management L.P. now owns 5,529 shares of the oil and gas producer’s stock valued at $122,000 after acquiring an additional 571 shares during the period. FORA Capital LLC acquired a new position in shares of EQT during the second quarter valued at $156,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of EQT during the second quarter valued at $203,000. 88.30% of the stock is owned by institutional investors.

Shares of EQT stock opened at $23.79 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.75. The company’s 50-day moving average price is $21.35 and its two-hundred day moving average price is $20.33. EQT Co. has a 52 week low of $15.35 and a 52 week high of $24.83.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 26th. The oil and gas producer reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.17. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm posted ($0.15) earnings per share. As a group, analysts expect that EQT Co. will post 1.03 earnings per share for the current fiscal year.

EQT announced that its board has initiated a stock buyback program on Monday, December 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas producer to buy up to 13.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Several equities analysts have recently issued reports on the stock. Truist reduced their price target on shares of EQT from $34.00 to $31.00 and set a “buy” rating for the company in a report on Friday. Mizuho upped their price objective on shares of EQT from $29.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, October 18th. Morgan Stanley raised shares of EQT from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $24.00 to $31.00 in a report on Friday, November 19th. Truist Securities reduced their price objective on shares of EQT from $34.00 to $31.00 and set a “buy” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. raised shares of EQT from a “neutral” rating to an “overweight” rating and set a $31.00 price objective for the company in a report on Friday, October 29th. They noted that the move was a valuation call. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, EQT presently has a consensus rating of “Buy” and a consensus price target of $27.91.

EQT Company Profile

EQT Corp. engages in natural gas production, gathering and transmission in the Appalachian area. It has operations in Marcellus and Utica Shales of the Appalachian Basin. The company was founded in 1888 and is headquartered in Pittsburgh, PA.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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