EQT (NYSE:EQT) Releases Earnings Results, Beats Expectations By $0.19 EPS

EQT (NYSE:EQT) posted its quarterly earnings data on Tuesday. The oil and gas producer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.19, Zacks reports. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.82%.

EQT Price Performance

NYSE EQT opened at $54.34 on Thursday. The company has a 50 day moving average price of $49.26 and a two-hundred day moving average price of $41.41. EQT has a 12-month low of $30.02 and a 12-month high of $56.66. The stock has a market capitalization of $32.42 billion, a PE ratio of 135.84, a price-to-earnings-growth ratio of 0.65 and a beta of 1.08. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.16%. EQT’s dividend payout ratio is currently 157.50%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Bank of America initiated coverage on EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 target price on the stock. Piper Sandler increased their price target on EQT from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price objective on EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Finally, Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $48.00 to $57.00 in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.89.

Insider Transactions at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.63% of the stock is currently owned by company insiders.

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.