Bank of New York Mellon Corp Has $728.77 Million Holdings in EQT Corporation (NYSE:EQT)

Bank of New York Mellon Corp cut its position in EQT Corporation (NYSE:EQT - Free Report) by 41.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,639,639 shares of the oil and gas producer's stock after selling 9,473,730 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.28% of EQT worth $728,766,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. grew its position in EQT by 47.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock worth $44,000 after purchasing an additional 310 shares during the last quarter. EverSource Wealth Advisors LLC grew 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 worth $45,000 after buying an additional 205 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in EQT during the fourth quarter valued at about $55,000. Larson Financial Group LLC increased its stake in EQT by 1,343.8% during the fourth quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer's stock valued at $64,000 after acquiring an additional 1,290 shares during the period. Finally, Colonial Trust Co SC raised its holdings in EQT by 255.5% in the 4th quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock valued at $66,000 after acquiring an additional 1,022 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

EQT Stock Up 1.5%

EQT stock traded up $0.84 during mid-day trading on Monday, hitting $56.15. 6,809,242 shares of the company were exchanged, compared to its average volume of 7,982,573. The firm's 50 day simple moving average is $55.71 and its 200 day simple moving average is $52.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57. EQT Corporation has a 1-year low of $30.02 and a 1-year high of $61.02. The firm has a market cap of $33.62 billion, a P/E ratio of 28.96, a P/E/G ratio of 0.34 and a beta of 0.65.

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

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th were paid a dividend of $0.1575 per share. The ex-dividend date was Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.12%. EQT's dividend payout ratio is currently 110.53%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on EQT from $58.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Stephens lowered 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. Scotiabank reaffirmed a "sector perform" rating and set a $62.00 price target (up previously from $57.00) on shares of EQT in a research note on Thursday, May 22nd. Wells Fargo & Company raised their price target on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Finally, Mizuho upped their target price on shares of EQT from $57.00 to $60.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $58.35.

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.