EQT (NYSE:EQT) Posts Earnings Results, Beats Expectations By $0.07 EPS

EQT (NYSE:EQT) released its quarterly earnings results on Tuesday. The oil and gas producer reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07, Briefing.com reports. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $0.30 earnings per share.

EQT Trading Up 1.4 %

Shares of EQT stock traded up $0.52 during mid-day trading on Wednesday, reaching $37.83. The company’s stock had a trading volume of 2,194,608 shares, compared to its average volume of 7,000,874. EQT has a 12-month low of $30.02 and a 12-month high of $45.23. The firm has a market capitalization of $16.71 billion, a PE ratio of 27.04 and a beta of 1.06. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. The company’s 50 day simple moving average is $35.02 and its 200-day simple moving average is $36.59.

EQT Dividend Announcement

The firm also recently announced 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 1.67%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is presently 45.65%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EQT. StockNews.com upgraded shares of EQT to a “sell” rating in a research report on Friday, July 26th. Stephens decreased their target price on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Citigroup raised EQT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $37.00 to $44.00 in a research note on Thursday, October 3rd. Finally, UBS Group dropped their price target on shares of EQT from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.61.

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.