EQT (NYSE:EQT) Issues Quarterly Earnings Results

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

EQT Price Performance

NYSE:EQT traded up $0.52 during trading hours on Wednesday, reaching $37.83. 2,194,608 shares of the company were exchanged, compared to its average volume of 7,000,874. The business has a 50 day moving average of $35.02 and a 200 day moving average of $36.59. The company has a market capitalization of $16.71 billion, a P/E ratio of 27.04 and a beta of 1.06. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. EQT has a 1-year low of $30.02 and a 1-year high of $45.23.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is 45.65%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EQT. JPMorgan Chase & Co. lifted their price target on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Wolfe Research started coverage on shares of EQT in a research report on Thursday, July 18th. They set an “outperform” rating and a $51.00 target price on the stock. StockNews.com upgraded EQT to a “sell” rating in a research report on Friday, July 26th. UBS Group decreased their price objective on EQT from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, Wells Fargo & Company raised shares of EQT from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $42.00 in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.