M&T Bank Corp Purchases 7,800 Shares of EQT Co. (NYSE:EQT)

M&T Bank Corp grew its holdings in EQT Co. (NYSE:EQT) by 45.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,913 shares of the oil and gas producer’s stock after purchasing an additional 7,800 shares during the quarter. M&T Bank Corp’s holdings in EQT were worth $913,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after purchasing an additional 20,700,921 shares during the last quarter. State Street Corp grew its position in shares of EQT by 24.5% during the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after buying an additional 7,290,822 shares during the period. Bank of New York Mellon Corp increased its stake in shares of EQT by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock valued at $752,487,000 after acquiring an additional 464,781 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in shares of EQT in the 3rd quarter valued at approximately $562,494,000. Finally, Clearbridge Investments LLC boosted its stake in EQT by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after acquiring an additional 253,186 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Trading Down 1.7 %

EQT stock opened at $44.83 on Tuesday. The firm has a 50-day moving average of $41.15 and a 200-day moving average of $37.44. EQT Co. has a one year low of $30.02 and a one year high of $48.02. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $26.75 billion, a price-to-earnings ratio of 53.36 and a beta of 1.14.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts expect that EQT Co. will post 1.37 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were given a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.41%. EQT’s dividend payout ratio (DPR) is 75.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Sanford C. Bernstein began coverage on shares of EQT in a research note on Friday, December 6th. They issued a “market perform” rating and a $50.00 target price for the company. UBS Group raised their price objective on EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Truist Financial raised their price target on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Morgan Stanley increased their target price on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, BMO Capital Markets raised their target price on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.61.

Insider Buying and Selling at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.63% of the company’s stock.

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.