EQT Co. (NYSE:EQT) Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of EQT Co. (NYSE:EQT) by 1.1% during the fourth quarter, Holdings Channel reports. The firm owned 23,113,369 shares of the oil and gas producer’s stock after selling 261,840 shares during the quarter. Bank of New York Mellon Corp’s holdings in EQT were worth $1,065,757,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of EQT. Wellington Management Group LLP grew its position in shares of EQT by 38.7% during the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after buying an additional 20,700,921 shares during the last quarter. State Street Corp boosted its stake in EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after acquiring an additional 7,290,822 shares during the period. Geode Capital Management LLC grew its holdings in shares of EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after purchasing an additional 3,582,418 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of EQT by 28.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock worth $183,678,000 after purchasing an additional 1,108,134 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of EQT by 386.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock worth $205,830,000 after purchasing an additional 3,454,741 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EQT. Wells Fargo & Company upped their price objective on EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. increased their price objective on shares of EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a research report on Wednesday, February 12th. Jefferies Financial Group upped their target price on shares of EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Morgan Stanley lifted their price target on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $52.17.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now directly owns 201,608 shares of the company’s stock, valued at $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.63% of the stock is currently owned by company insiders.

EQT Trading Down 0.4 %

Shares of EQT stock opened at $50.02 on Tuesday. The business has a fifty day simple moving average of $49.77 and a 200-day simple moving average of $42.01. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. The firm has a market cap of $29.88 billion, a price-to-earnings ratio of 125.04, a price-to-earnings-growth ratio of 0.64 and a beta of 1.08. 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 (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 analysts’ consensus estimates of $0.50 by $0.19. The company had revenue of $1.82 billion during 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 analysts forecast that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be given a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.63 annualized dividend and a yield of 1.26%. EQT’s dividend payout ratio (DPR) is 157.50%.

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.