Beck Capital Management LLC Sells 4,254 Shares of EQT Co. (NYSE:EQT)

Beck Capital Management LLC lowered its holdings in shares of EQT Co. (NYSE:EQT) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,025 shares of the oil and gas producer’s stock after selling 4,254 shares during the quarter. Beck Capital Management LLC’s holdings in EQT were worth $2,749,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EQT. B. Riley Wealth Advisors Inc. bought a new stake in shares of EQT during the first quarter valued at approximately $209,000. Comerica Bank increased its holdings in shares of EQT by 12.2% in the first quarter. Comerica Bank now owns 134,659 shares of the oil and gas producer’s stock worth $4,992,000 after purchasing an additional 14,622 shares during the last quarter. Swedbank AB purchased a new stake in shares of EQT in the first quarter worth about $4,073,000. Cetera Investment Advisers bought a new position in EQT during the first quarter valued at approximately $2,274,000. Finally, Cetera Advisors LLC grew its holdings in EQT by 9.9% during the 1st quarter. Cetera Advisors LLC now owns 14,586 shares of the oil and gas producer’s stock valued at $541,000 after buying an additional 1,318 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Trading Up 0.4 %

NYSE:EQT opened at $45.44 on Monday. The firm has a 50-day simple moving average of $39.35 and a 200-day simple moving average of $37.15. EQT Co. has a one year low of $30.02 and a one year high of $48.02. The firm has a market cap of $27.11 billion, a P/E ratio of 54.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. EQT’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Equities analysts anticipate that EQT Co. will post 1.36 EPS for the current fiscal year.

EQT Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on EQT. JPMorgan Chase & Co. lifted their price objective on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Piper Sandler increased their price target on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, November 4th. UBS Group boosted their price objective on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. BMO Capital Markets raised their target price on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company lifted their price target on shares of EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.