Sumitomo Mitsui Trust Group Inc. Increases Stake in EQT Corporation (NYSE:EQT)

Sumitomo Mitsui Trust Group Inc. lifted its stake in EQT Corporation (NYSE:EQT - Free Report) by 15.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,288,322 shares of the oil and gas producer's stock after acquiring an additional 172,249 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of EQT worth $68,835,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its position in shares of EQT by 22.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer's stock valued at $48,000 after buying an additional 193 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock valued at $45,000 after purchasing an additional 205 shares in the last quarter. Generali Investments Management Co LLC lifted its stake in EQT by 14.1% during the first quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer's stock worth $91,000 after purchasing an additional 211 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of EQT by 3.9% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer's stock worth $309,000 after purchasing an additional 219 shares in the last quarter. Finally, Huntington National Bank increased its position in shares of EQT by 7.4% during the 4th quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer's stock valued at $151,000 after purchasing an additional 224 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Down 1.2%

EQT stock traded down $0.66 during trading on Wednesday, hitting $55.06. 2,408,115 shares of the stock traded hands, compared to its average volume of 7,941,850. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market cap of $32.96 billion, a price-to-earnings ratio of 96.86, a price-to-earnings-growth ratio of 0.35 and a beta of 0.65. EQT Corporation has a 1 year low of $30.02 and a 1 year high of $61.02. The firm's 50 day moving average is $55.33 and its two-hundred day moving average is $51.81.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.20. The business had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.16 billion. EQT had a return on equity of 5.52% and a net margin of 6.59%. On average, sell-side analysts anticipate that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th were paid a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.14%. EQT's dividend payout ratio (DPR) is currently 110.53%.

Analysts Set New Price Targets

Several analysts have issued reports on EQT shares. Stephens cut their target price on EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Roth Capital initiated coverage on shares of EQT in a report on Tuesday, June 24th. They set a "buy" rating and a $69.00 target price on the stock. Piper Sandler boosted their price target on shares of EQT from $35.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Wells Fargo & Company upped their price target on shares of EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Finally, Mizuho lifted their price objective on EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

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.