Coldstream Capital Management Inc. Sells 1,251 Shares of EQT Co. (NYSE:EQT)

Coldstream Capital Management Inc. lowered its holdings in shares of EQT Co. (NYSE:EQT) by 9.5% in the fourth quarter, HoldingsChannel reports. The firm owned 11,921 shares of the oil and gas producer’s stock after selling 1,251 shares during the period. Coldstream Capital Management Inc.’s holdings in EQT were worth $461,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Huntington National Bank grew its holdings in EQT by 20.0% during the third quarter. Huntington National Bank now owns 1,792 shares of the oil and gas producer’s stock worth $73,000 after purchasing an additional 299 shares during the period. UniSuper Management Pty Ltd grew its holdings in EQT by 13.0% during the third quarter. UniSuper Management Pty Ltd now owns 2,600 shares of the oil and gas producer’s stock worth $106,000 after purchasing an additional 300 shares during the period. Perigon Wealth Management LLC grew its holdings in EQT by 2.1% during the fourth quarter. Perigon Wealth Management LLC now owns 14,471 shares of the oil and gas producer’s stock worth $559,000 after purchasing an additional 303 shares during the period. Arizona State Retirement System grew its holdings in EQT by 0.3% during the third quarter. Arizona State Retirement System now owns 98,663 shares of the oil and gas producer’s stock worth $4,004,000 after purchasing an additional 318 shares during the period. Finally, New York Life Investment Management LLC grew its holdings in EQT by 0.7% during the third quarter. New York Life Investment Management LLC now owns 51,797 shares of the oil and gas producer’s stock worth $2,102,000 after purchasing an additional 343 shares during the period. Institutional investors own 90.81% of the company’s stock.

EQT Stock Down 3.2 %

NYSE EQT opened at $39.91 on Friday. The business has a fifty day moving average price of $38.00 and a two-hundred day moving average price of $37.63. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.88. EQT Co. has a fifty-two week low of $32.07 and a fifty-two week high of $45.23. The stock has a market capitalization of $17.62 billion, a PE ratio of 28.92 and a beta of 1.09.

EQT (NYSE:EQT) last released its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the company earned $1.70 earnings per share. The company’s quarterly revenue was down 28.8% on a year-over-year basis. Equities analysts expect that EQT Co. will post 1.03 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s payout ratio is presently 45.65%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EQT. Wells Fargo & Company cut EQT from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $48.00 to $37.00 in a report on Wednesday, April 17th. Royal Bank of Canada restated an “outperform” rating and set a $46.00 price objective on shares of EQT in a report on Tuesday, March 5th. Sanford C. Bernstein upgraded EQT from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $27.00 to $34.00 in a report on Wednesday, April 10th. Piper Sandler restated an “overweight” rating and set a $46.00 price objective (up previously from $41.00) on shares of EQT in a report on Tuesday, April 30th. Finally, Scotiabank boosted their price objective on EQT from $52.00 to $54.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $44.94.

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.