Independent Advisor Alliance Sells 3,810 Shares of EQT Co. (NYSE:EQT)

Independent Advisor Alliance cut its holdings in EQT Co. (NYSE:EQT) by 23.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,116 shares of the oil and gas producer’s stock after selling 3,810 shares during the period. Independent Advisor Alliance’s holdings in EQT were worth $559,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in EQT. Truvestments Capital LLC bought a new stake in EQT in the 3rd quarter valued at about $30,000. Quarry LP increased its position in EQT by 184.7% in the 3rd 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 in the last quarter. Brown Brothers Harriman & Co. bought a new stake in EQT in the 3rd quarter valued at about $36,000. Financial Avengers Inc. increased its position in EQT by 100.8% in the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 504 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in EQT by 22.7% in 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. 90.81% of the stock is owned by institutional investors.

EQT Price Performance

Shares of NYSE:EQT opened at $50.71 on Monday. The company has a 50 day moving average of $50.82 and a 200 day moving average of $43.59. The stock has a market cap of $30.30 billion, a P/E ratio of 126.79, a P/E/G ratio of 0.64 and a beta of 1.12. EQT Co. has a 12 month low of $30.02 and a 12 month high of $56.66. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.50 by $0.19. EQT had a net margin of 4.37% and a return on equity of 4.35%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. As a group, sell-side analysts forecast that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a $0.1575 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.24%. EQT’s dividend payout ratio is presently 157.50%.

Analyst Ratings Changes

Several research firms have recently commented on EQT. Mizuho raised shares of EQT from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $48.00 to $57.00 in a research report on Monday, December 16th. Truist Financial upped their target price on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. StockNews.com upgraded shares of EQT from a “sell” rating to a “hold” rating in a research note on Friday. Scotiabank lowered shares of EQT from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $55.00 to $54.00 in a research note on Friday, January 17th. Finally, Citigroup lowered shares of EQT from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $52.56.

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.