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

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

EQT Stock Up 1.0 %

EQT stock opened at $54.34 on Thursday. The firm has a fifty day moving average price of $49.26 and a two-hundred day moving average price of $41.41. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. EQT has a 1-year low of $30.02 and a 1-year high of $56.66. The firm has a market cap of $32.42 billion, a price-to-earnings ratio of 135.84, a PEG ratio of 0.65 and a beta of 1.08.

EQT Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EQT shares. Citigroup boosted their price target on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Piper Sandler boosted their target price on shares of EQT from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. UBS Group raised their price target on shares of EQT from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a research report on Wednesday, January 15th. Finally, Bank of America initiated coverage on shares of EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, EQT presently has an average rating of “Moderate Buy” and a consensus target price of $51.89.

Insider Activity

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 201,608 shares of the company’s stock, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.63% of the company’s stock.

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.