Allstate Corp Buys Shares of 16,879 EQT Co. (NYSE:EQT)

Allstate Corp purchased a new position in EQT Co. (NYSE:EQT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 16,879 shares of the oil and gas producer’s stock, valued at approximately $778,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sanctuary Advisors LLC boosted its holdings in EQT by 104.7% in the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after acquiring an additional 32,484 shares in the last quarter. Retirement Systems of Alabama boosted its stake in EQT by 36.7% in the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after purchasing an additional 35,733 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in EQT by 44.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer’s stock valued at $2,379,000 after purchasing an additional 16,416 shares during the last quarter. FMR LLC increased its stake in EQT by 2.5% during the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after purchasing an additional 28,129 shares in the last quarter. Finally, D.A. Davidson & CO. raised its holdings in EQT by 13.4% in the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock worth $298,000 after buying an additional 762 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

EQT has been the topic of a number of recent analyst reports. The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. Jefferies Financial Group lifted their target price on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price target on shares of EQT in a report on Monday, January 6th. Morgan Stanley reiterated an “overweight” rating and issued a $67.00 price objective (up from $63.00) on shares of EQT in a report on Wednesday, March 26th. Finally, UBS Group upped their target price on shares of EQT from $54.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.11.

EQT Stock Up 1.0 %

EQT stock opened at $53.52 on Tuesday. The business’s 50-day moving average price is $51.39 and its 200-day moving average price is $45.16. The stock has a market cap of $31.98 billion, a P/E ratio of 133.81, a PEG ratio of 0.64 and a beta of 1.12. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.19. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. On average, equities research analysts forecast that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a $0.1575 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.18%. EQT’s payout ratio is presently 157.50%.

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.