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

Alaska Permanent Fund Corp acquired a new position in shares of EQT Co. (NYSE:EQT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,254 shares of the oil and gas producer’s stock, valued at approximately $435,000.

Other hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in shares of EQT by 3.7% in the 3rd quarter. Fifth Third Bancorp now owns 7,363 shares of the oil and gas producer’s stock worth $299,000 after buying an additional 264 shares in the last quarter. Allworth Financial LP grew its position in shares of EQT by 26.9% in the third quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock valued at $54,000 after purchasing an additional 282 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of EQT by 0.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,672 shares of the oil and gas producer’s stock worth $1,285,000 after purchasing an additional 294 shares in the last quarter. Huntington National Bank raised its position in shares of EQT by 20.0% during the 3rd quarter. Huntington National Bank now owns 1,792 shares of the oil and gas producer’s stock worth $73,000 after purchasing an additional 299 shares during the last quarter. Finally, UniSuper Management Pty Ltd lifted its position in shares of EQT by 13.0% in the third quarter. UniSuper Management Pty Ltd now owns 2,600 shares of the oil and gas producer’s stock valued at $106,000 after acquiring an additional 300 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. TD Cowen started coverage on shares of EQT in a research note on Friday, April 19th. They set a “hold” rating and a $43.00 price objective on the stock. Jefferies Financial Group lifted their price objective on EQT from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Mizuho raised their price target on EQT from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $37.00 price objective (down from $39.00) on shares of EQT in a report on Wednesday, March 20th. Finally, Truist Financial lowered their target price on shares of EQT from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $44.25.

EQT Stock Performance

EQT stock opened at $40.61 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.99. EQT Co. has a 12 month low of $30.84 and a 12 month high of $45.23. The company has a fifty day moving average price of $36.43 and a two-hundred day moving average price of $37.99. The company has a market cap of $17.93 billion, a PE ratio of 29.43 and a beta of 1.12.

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

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.1575 per share. 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 payout ratio is 45.65%.

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.