Cherry Creek Investment Advisors Inc. Lowers Stake in EQT Co. (NYSE:EQT)

Cherry Creek Investment Advisors Inc. lowered its stake in shares of EQT Co. (NYSE:EQT) by 8.6% in the third quarter, Holdings Channel reports. The institutional investor owned 16,056 shares of the oil and gas producer’s stock after selling 1,519 shares during the period. Cherry Creek Investment Advisors Inc.’s holdings in EQT were worth $588,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of EQT. Innealta Capital LLC purchased a new stake in shares of EQT during the 2nd quarter valued at $28,000. Hexagon Capital Partners LLC increased its position in shares of EQT by 18,080.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 904 shares during the period. Wolff Wiese Magana LLC increased its position in shares of EQT by 936.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 908 shares during the period. Blue Trust Inc. increased its position in shares of EQT by 149.5% in the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 598 shares during the period. Finally, Rise Advisors LLC increased its position in shares of EQT by 224.8% in the 3rd quarter. Rise Advisors LLC now owns 1,036 shares of the oil and gas producer’s stock valued at $38,000 after acquiring an additional 717 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Up 0.6 %

Shares of NYSE EQT opened at $36.19 on Thursday. The company has a 50 day simple moving average of $34.66 and a 200-day simple moving average of $36.60. The company has a market capitalization of $15.98 billion, a P/E ratio of 26.22 and a beta of 1.06. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. EQT Co. has a 1 year low of $30.02 and a 1 year high of $45.23.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The firm had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm earned ($0.17) EPS. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. On average, equities research analysts predict that EQT Co. will post 1.37 earnings per share for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.74%. EQT’s dividend payout ratio (DPR) is presently 45.65%.

Wall Street Analysts Forecast Growth

EQT has been the topic of several analyst reports. Mizuho cut their price target on EQT from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $45.00 price target on shares of EQT in a research report on Friday, September 13th. Truist Financial cut their price target on EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. BMO Capital Markets increased their price target on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Piper Sandler cut EQT from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $43.00 to $32.00 in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.18.

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.