State of New Jersey Common Pension Fund D grew its stake in EQT Co. (NYSE:EQT) by 8.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 211,496 shares of the oil and gas producer’s stock after buying an additional 16,596 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.08% of EQT worth $2,305,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Quest Capital Management Inc. ADV acquired a new position in shares of EQT during the third quarter valued at approximately $51,000. Neo Ivy Capital Management acquired a new position in EQT during the 3rd quarter worth approximately $108,000. Magnus Financial Group LLC acquired a new position in shares of EQT during the fourth quarter worth $112,000. Arden Trust Co acquired a new position in shares of EQT during the 4th quarter worth about $116,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of EQT in the 4th quarter valued at about $139,000. Hedge funds and other institutional investors own 96.32% of the company’s stock.
Several equities analysts have commented on the stock. SunTrust Banks upgraded shares of EQT from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, January 21st. Tudor Pickering lowered EQT from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research report on Monday, November 25th. Royal Bank of Canada upgraded EQT from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $16.00 to $17.00 in a research note on Friday, November 8th. Wells Fargo & Co decreased their price objective on EQT from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, January 9th. Finally, ValuEngine upgraded EQT from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $16.25.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 14th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.12 dividend on an annualized basis and a yield of 2.16%. EQT’s dividend payout ratio is currently 7.06%.
EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.
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