Independent Advisor Alliance Acquires 1,412 Shares of EQT Co. (NYSE:EQT)

Independent Advisor Alliance grew its holdings in EQT Co. (NYSE:EQT) by 9.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,926 shares of the oil and gas producer’s stock after buying an additional 1,412 shares during the period. Independent Advisor Alliance’s holdings in EQT were worth $584,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Davis Investment Partners LLC raised its holdings in shares of EQT by 1.0% in the third quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock valued at $1,137,000 after acquiring an additional 317 shares in the last quarter. Hancock Whitney Corp boosted its position in shares of EQT by 3.0% in the 1st quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock worth $541,000 after purchasing an additional 419 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in EQT by 7.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock worth $224,000 after buying an additional 421 shares during the last quarter. SeaBridge Investment Advisors LLC increased its holdings in shares of EQT by 1.4% during the second quarter. SeaBridge Investment Advisors LLC now owns 30,792 shares of the oil and gas producer’s stock valued at $1,139,000 after acquiring an additional 431 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in EQT by 40.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,498 shares of the oil and gas producer’s stock worth $55,000 after purchasing an additional 434 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Stock Performance

Shares of EQT stock opened at $45.29 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $27.02 billion, a P/E ratio of 53.92 and a beta of 1.06. The firm’s 50 day moving average price is $38.93 and its 200-day moving average price is $37.11. EQT Co. has a one year low of $30.02 and a one year high of $48.02.

EQT (NYSE:EQT) last posted its quarterly earnings data 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 firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts predict that EQT Co. will post 1.38 EPS for the current year.

EQT Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Monday. UBS Group raised their price target on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Bank of America initiated coverage on shares of EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 price target on the stock. Stephens raised their target price on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets raised their price objective on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, EQT currently has an average rating of “Moderate Buy” and a consensus target price of $44.67.

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.