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

Independent Advisor Alliance decreased its stake in shares of EQT Co. (NYSE:EQT) by 23.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC boosted its holdings in shares of EQT by 104.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after buying an additional 32,484 shares during the period. Retirement Systems of Alabama boosted its position in shares of EQT by 36.7% in the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock valued at $4,878,000 after acquiring an additional 35,733 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of EQT by 44.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer’s stock valued at $2,379,000 after acquiring an additional 16,416 shares during the period. FMR LLC boosted its position in shares of EQT by 2.5% in the third quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after acquiring an additional 28,129 shares during the period. Finally, D.A. Davidson & CO. boosted its position in shares of EQT by 13.4% in the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock valued at $298,000 after acquiring an additional 762 shares during the period. Institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

EQT has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Citigroup cut shares of EQT from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and upped their target price for the company from $48.00 to $57.00 in a research report on Monday, December 16th. Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $55.00 to $54.00 in a research report on Friday, January 17th. Finally, UBS Group upped their target price on EQT from $54.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.56.

EQT Price Performance

Shares of NYSE:EQT opened at $50.71 on Monday. The company has a market cap of $30.30 billion, a price-to-earnings ratio of 126.79, a PEG ratio of 0.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The firm has a 50 day simple moving average of $50.82 and a 200 day simple moving average of $43.59. EQT Co. has a one year low of $30.02 and a one year high of $56.66.

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. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. Research analysts predict that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a $0.1575 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 157.50%.

EQT 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.