EQT (NYSE:EQT) Issues Earnings Results

EQT (NYSE:EQT) issued its quarterly earnings results on Tuesday. The oil and gas producer reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.17, Zacks reports. EQT had a net margin of 22.59% and a return on equity of 6.88%.

EQT Price Performance

NYSE:EQT traded down $1.09 during trading hours on Tuesday, hitting $57.61. The stock had a trading volume of 9,974,731 shares, compared to its average volume of 11,033,163. The company has a 50 day simple moving average of $54.50 and a two-hundred day simple moving average of $54.38. The firm has a market capitalization of $35.95 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 0.47 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. EQT has a one year low of $43.57 and a one year high of $62.23.

EQT Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EQT. JPMorgan Chase & Co. reduced their price objective on EQT from $64.00 to $58.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Wells Fargo & Company dropped their price target on EQT from $68.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, October 23rd. Piper Sandler increased their price target on EQT from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of EQT in a report on Monday, December 29th. Finally, Zacks Research downgraded shares of EQT from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Nineteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and a consensus price target of $64.27.

Hedge Funds Weigh In On EQT

Institutional investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. bought a new stake in shares of EQT during the 3rd quarter valued at about $114,000. Caxton Associates LLP bought a new stake in EQT during the first quarter valued at approximately $256,000. Syon Capital LLC grew its stake in 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 buying an additional 816 shares in the last quarter. Adalta Capital Management LLC increased its holdings in shares of EQT by 71.2% in the 3rd quarter. Adalta Capital Management LLC now owns 11,300 shares of the oil and gas producer’s stock worth $615,000 after buying an additional 4,700 shares during the last quarter. Finally, Focus Partners Wealth raised its position 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 currently owned by institutional investors.

EQT Company Profile

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.