UMB Bank n.a. Sells 1,873 Shares of EQT Co. (NYSE:EQT)

UMB Bank n.a. trimmed its holdings in EQT Co. (NYSE:EQT) by 30.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,214 shares of the oil and gas producer’s stock after selling 1,873 shares during the period. UMB Bank n.a.’s holdings in EQT were worth $225,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. raised its holdings in shares of EQT by 47.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock valued at $44,000 after purchasing an additional 310 shares during the last quarter. EverSource Wealth Advisors LLC raised 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 valued at $45,000 after buying an additional 205 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings 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 during the period. Stonebridge Financial Group LLC purchased a new position in shares of EQT in the 4th quarter worth $55,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of EQT in the fourth quarter worth $55,000. Institutional investors own 90.81% of the company’s stock.

EQT Trading Up 0.4%

EQT stock opened at $53.94 on Thursday. The company has a market capitalization of $32.29 billion, a price-to-earnings ratio of 134.86, a PEG ratio of 0.64 and a beta of 0.65. 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 $57.37. The business has a 50 day simple moving average of $52.78 and a two-hundred day simple moving average of $50.45.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.20. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. Research analysts anticipate that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Wednesday, May 7th. EQT’s payout ratio is presently 110.53%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on EQT shares. Citigroup raised their target price on EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Stephens cut their target price on shares of EQT from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. TD Cowen raised shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a report on Tuesday, April 8th. UBS Group upgraded shares of EQT from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $54.00 to $64.00 in a research note on Monday, May 5th. Finally, Mizuho upped their price objective on EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.11.

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.