IFP Advisors Inc Sells 6,152 Shares of EQT Co. (NYSE:EQT)

IFP Advisors Inc lessened its stake in EQT Co. (NYSE:EQT) by 43.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,155 shares of the oil and gas producer’s stock after selling 6,152 shares during the period. IFP Advisors Inc’s holdings in EQT were worth $378,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in EQT. HM Payson & Co. bought a new stake in shares of EQT in the third quarter valued at about $25,000. Truvestments Capital LLC bought a new position in EQT during the third quarter worth about $30,000. Quarry LP lifted its stake in EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 578 shares during the period. Brown Brothers Harriman & Co. bought a new position in EQT during the third quarter worth about $36,000. Finally, Financial Avengers Inc. lifted its stake in EQT by 100.8% during the third quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 504 shares during the period. Institutional investors own 90.81% of the company’s stock.

EQT Stock Performance

Shares of EQT stock opened at $48.25 on Friday. 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 market cap of $28.82 billion, a P/E ratio of 120.62, a P/E/G ratio of 0.64 and a beta of 1.08. The firm has a 50 day simple moving average of $50.16 and a 200 day simple moving average of $42.40. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. Sell-side analysts predict that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Tuesday, February 18th. EQT’s dividend payout ratio is currently 157.50%.

Insider Activity at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.63% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Scotiabank cut shares of EQT from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $55.00 to $54.00 in a research note on Friday, January 17th. StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Saturday, February 8th. UBS Group raised their price target on shares of EQT from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Wells Fargo & Company raised their price target on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Finally, Truist Financial raised their price target 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $52.39.

About EQT

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.