EQT Co. (NYSE:EQT) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its stake in EQT Co. (NYSE:EQT) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 245,480 shares of the oil and gas producer’s stock after selling 17,587 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in EQT were worth $11,319,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Quarry LP grew its position in EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 578 shares in the last quarter. Financial Avengers Inc. increased its stake in EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 504 shares during the period. EverSource Wealth Advisors LLC increased its stake in EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 205 shares during the period. Parkside Financial Bank & Trust lifted its holdings in EQT by 22.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after buying an additional 193 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in EQT in the 4th quarter valued at about $55,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Up 1.4 %

EQT stock opened at $53.07 on Friday. The firm has a market capitalization of $31.71 billion, a P/E ratio of 132.68, a P/E/G ratio of 0.64 and a beta of 1.12. The company has a 50-day simple moving average of $51.38 and a 200-day simple moving average of $44.93. EQT Co. has a one year low of $30.02 and a one year high of $56.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS 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 company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.81 billion. As a group, equities analysts expect that EQT Co. will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders 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 annualized dividend and a dividend yield of 1.19%. EQT’s payout ratio is 157.50%.

Analyst Upgrades and Downgrades

Several research firms recently commented on EQT. Jefferies Financial Group boosted their price target on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Stephens upgraded EQT from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $41.00 to $59.00 in a research note on Tuesday, March 18th. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target for the company in a research note on Wednesday, January 15th. Wells Fargo & Company increased their price objective on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, March 19th. Finally, Piper Sandler boosted their target price on shares of EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.11.

About EQT

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.