EQT Co. (NYSE:EQT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in EQT Co. (NYSE:EQT - Free Report) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 owned about 3.87% of EQT worth $1,065,757,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its position in EQT by 168.9% during the 3rd quarter. Blue Trust Inc. now owns 2,684 shares of the oil and gas producer's stock worth $99,000 after purchasing an additional 1,686 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of EQT by 14.0% during the third quarter. Private Advisor Group LLC now owns 14,234 shares of the oil and gas producer's stock worth $522,000 after buying an additional 1,748 shares during the period. International Assets Investment Management LLC purchased a new position in shares of EQT during the third quarter worth about $3,616,000. Hennion & Walsh Asset Management Inc. acquired a new position in EQT in the 3rd quarter valued at about $229,000. Finally, Mediolanum International Funds Ltd raised its stake in EQT by 68.4% during the 3rd quarter. Mediolanum International Funds Ltd now owns 6,627 shares of the oil and gas producer's stock valued at $242,000 after acquiring an additional 2,692 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction dated 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 completion of the sale, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on EQT shares. Piper Sandler lifted their target price on EQT from $34.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Mizuho upgraded shares of EQT from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $48.00 to $57.00 in a research report on Monday, December 16th. Morgan Stanley upped their price objective on shares of EQT from $45.00 to $56.00 and gave the stock an "overweight" rating in a research report on Monday, November 25th. Royal Bank of Canada restated a "sector perform" rating and issued a $49.00 target price on shares of EQT in a research note on Monday, January 6th. Finally, UBS Group boosted their price target on shares of EQT from $54.00 to $58.00 and gave the stock a "neutral" rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $52.39.

EQT Price Performance

EQT stock traded up $1.62 during trading hours on Friday, hitting $48.25. The stock had a trading volume of 9,469,180 shares, compared to its average volume of 8,620,163. The stock has a market capitalization of $28.82 billion, a price-to-earnings ratio of 120.62, a PEG ratio of 0.64 and a beta of 1.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT Co. has a 1-year low of $30.02 and a 1-year high of $56.66. The stock's fifty day moving average is $50.06 and its two-hundred day moving average is $42.21.

EQT (NYSE:EQT - Get Free Report) last posted its 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. EQT had a net margin of 4.37% and a return on equity of 4.35%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. As a group, analysts predict that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.31%. EQT's dividend payout ratio is currently 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.