Sumitomo Mitsui Trust Group Inc. Sells 104,483 Shares of EQT Co. (NYSE:EQT)

Sumitomo Mitsui Trust Group Inc. cut its holdings in EQT Co. (NYSE:EQT) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,116,073 shares of the oil and gas producer’s stock after selling 104,483 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.19% of EQT worth $51,462,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. HM Payson & Co. acquired a new position in shares of EQT during the third quarter worth approximately $25,000. Truvestments Capital LLC acquired a new position in shares of EQT during the third quarter valued at about $30,000. Quarry LP lifted its stake in shares of 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 buying an additional 578 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in EQT during the third quarter worth about $36,000. Finally, Financial Avengers Inc. increased its stake in EQT by 100.8% during the third quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 504 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on EQT. Royal Bank of Canada reissued a “sector perform” rating and set a $49.00 price objective on shares of EQT in a report on Monday, January 6th. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a report on Wednesday, January 15th. StockNews.com raised shares of EQT to a “sell” rating in a report on Saturday. Morgan Stanley raised their price target on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $48.00 to $57.00 in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.94.

EQT Stock Up 4.8 %

Shares of NYSE:EQT opened at $53.55 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market cap of $31.95 billion, a P/E ratio of 63.74, a P/E/G ratio of 0.62 and a beta of 1.08. EQT Co. has a 12 month low of $30.02 and a 12 month high of $54.85. The company’s 50-day moving average price is $47.96 and its two-hundred day moving average price is $40.45.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Tuesday, February 18th. EQT’s dividend payout ratio is currently 75.00%.

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 value of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is currently owned by company insiders.

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.