Independent Advisor Alliance Has $584,000 Position in EQT Co. (NYSE:EQT)

Independent Advisor Alliance grew its stake in EQT Co. (NYSE:EQT) by 9.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,926 shares of the oil and gas producer’s stock after purchasing an additional 1,412 shares during the quarter. Independent Advisor Alliance’s holdings in EQT were worth $584,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. HM Payson & Co. acquired a new stake in EQT during the 3rd quarter worth approximately $25,000. Innealta Capital LLC bought a new stake in shares of EQT during the second quarter worth $28,000. Hexagon Capital Partners LLC increased its stake in shares of EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 904 shares during the period. Blue Trust Inc. raised its position in EQT by 149.5% during the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 598 shares during the last quarter. Finally, Wolff Wiese Magana LLC lifted its stake in shares of EQT by 936.1% in the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 908 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Trading Down 0.6 %

Shares of EQT stock opened at $45.29 on Thursday. 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 $27.02 billion, a price-to-earnings ratio of 53.92 and a beta of 1.06. EQT Co. has a 1 year low of $30.02 and a 1 year high of $48.02. The firm has a fifty day moving average price of $38.93 and a 200-day moving average price of $37.11.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. EQT’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities analysts predict that EQT Co. will post 1.38 earnings per share for the current year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio is currently 75.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EQT. Mizuho increased their price target on EQT from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley increased their price target on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday. Bank of America started coverage on shares of EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective for the company. Piper Sandler increased their target price on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Truist Financial boosted their target price on shares of EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday. One investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.67.

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.