EQT (NYSE:EQT) Releases Earnings Results, Beats Expectations By $0.17 EPS

EQT (NYSE:EQT) released its quarterly earnings data on Tuesday. The oil and gas producer reported $0.90 EPS for the quarter, topping the consensus estimate of $0.73 by $0.17, Zacks reports. EQT had a net margin of 23.59% and a return on equity of 7.39%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm earned $0.69 EPS. EQT’s revenue for the quarter was up 24.8% on a year-over-year basis.

EQT Trading Up 1.1%

Shares of EQT opened at $58.39 on Thursday. EQT has a 1-year low of $43.57 and a 1-year high of $62.23. The company has a market capitalization of $36.44 billion, a P/E ratio of 17.64, a P/E/G ratio of 0.46 and a beta of 0.74. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.58 and a quick ratio of 0.58. The firm’s 50 day simple moving average is $54.51 and its 200 day simple moving average is $54.45.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 17th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, February 17th. EQT’s dividend payout ratio (DPR) is currently 22.60%.

Institutional Trading of EQT

Hedge funds have recently made changes to their positions in the stock. Sunbelt Securities Inc. purchased a new position in EQT in the third quarter worth $114,000. Caxton Associates LLP purchased a new position in shares of EQT in the 1st quarter worth about $256,000. Syon Capital LLC boosted its holdings in shares of EQT by 19.1% in the 4th quarter. Syon Capital LLC now owns 5,096 shares of the oil and gas producer’s stock worth $273,000 after purchasing an additional 816 shares in the last quarter. Adalta Capital Management LLC increased its position in shares of EQT by 71.2% during the 3rd quarter. Adalta Capital Management LLC now owns 11,300 shares of the oil and gas producer’s stock valued at $615,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in shares of EQT by 9.0% during the 1st quarter. Focus Partners Wealth now owns 21,637 shares of the oil and gas producer’s stock valued at $1,156,000 after buying an additional 1,789 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EQT shares. Wells Fargo & Company cut their price target on EQT from $68.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, October 23rd. Zacks Research cut EQT from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Wolfe Research lifted their target price on EQT from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, January 26th. TD Cowen decreased their price target on EQT from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Finally, The Goldman Sachs Group cut their price objective on shares of EQT from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Nineteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, EQT currently has an average rating of “Moderate Buy” and a consensus target price of $64.41.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.