Illinois Municipal Retirement Fund Has $4.92 Million Position in EQT Co. (NYSE:EQT)

Illinois Municipal Retirement Fund increased its holdings in shares of EQT Co. (NYSE:EQT) by 498.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 127,300 shares of the oil and gas producer’s stock after acquiring an additional 106,024 shares during the period. Illinois Municipal Retirement Fund’s holdings in EQT were worth $4,921,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in EQT by 8.6% in the third quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock valued at $1,822,027,000 after buying an additional 3,539,661 shares in the last quarter. Wellington Management Group LLP boosted its position in EQT by 61.9% in the third quarter. Wellington Management Group LLP now owns 19,687,594 shares of the oil and gas producer’s stock valued at $798,923,000 after buying an additional 7,526,875 shares in the last quarter. Bank of New York Mellon Corp boosted its position in EQT by 6.5% in the third quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer’s stock valued at $731,979,000 after buying an additional 1,098,211 shares in the last quarter. Northern Trust Corp boosted its position in EQT by 8.9% in the third quarter. Northern Trust Corp now owns 3,657,338 shares of the oil and gas producer’s stock valued at $148,415,000 after buying an additional 300,326 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in EQT by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,345,714 shares of the oil and gas producer’s stock valued at $135,769,000 after buying an additional 77,282 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Stock Up 3.8 %

Shares of NYSE EQT opened at $39.42 on Thursday. The stock has a market cap of $17.36 billion, a P/E ratio of 28.57 and a beta of 1.12. The firm has a 50 day moving average price of $36.19 and a 200 day moving average price of $38.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. EQT Co. has a 52-week low of $30.84 and a 52-week high of $45.23.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.70%. The business’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.70 earnings per share. Analysts expect that EQT Co. will post 0.99 EPS for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.60%. The ex-dividend date is Tuesday, May 7th. EQT’s dividend payout ratio (DPR) is currently 45.65%.

Wall Street Analyst Weigh In

EQT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $37.00 price target (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Jefferies Financial Group boosted their target price on shares of EQT from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Piper Sandler dropped their target price on shares of EQT from $47.00 to $41.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 target price on shares of EQT in a research note on Tuesday, March 5th. Finally, TD Cowen initiated coverage on shares of EQT in a research note on Friday, April 19th. They issued a “hold” rating and a $43.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.06.

EQT 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.