EQT (NYSE:EQT) Issues Quarterly Earnings Results

EQT (NYSE:EQT) posted its quarterly earnings data on Tuesday. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.17, Briefing.com reports. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. EQT’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.70 EPS.

EQT Price Performance

EQT traded up $1.31 on Wednesday, hitting $39.29. 6,008,965 shares of the stock were exchanged, compared to its average volume of 6,475,380. EQT has a 12 month low of $30.84 and a 12 month high of $45.23. The business has a 50-day moving average of $36.06 and a two-hundred day moving average of $37.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $17.30 billion, a price-to-earnings ratio of 9.18 and a beta of 1.12.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.60%. EQT’s dividend payout ratio is currently 14.82%.

Analysts Set New Price Targets

Several research firms recently issued reports on EQT. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price objective on shares of EQT in a report on Tuesday, March 5th. Jefferies Financial Group upped their target price on shares of EQT from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Scotiabank upgraded shares of EQT from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $40.00 to $52.00 in a research note on Thursday, April 11th. Stephens upped their target price on shares of EQT from $46.00 to $47.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, TD Cowen began coverage on shares of EQT in a research note on Friday, April 19th. They set a “hold” rating and a $43.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $44.06.

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.