EQT (NYSE:EQT) Posts Earnings Results, Beats Expectations By $0.17 EPS

EQT (NYSE:EQT) announced its quarterly earnings data on Tuesday. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17, Briefing.com reports. EQT had a net margin of 25.12% and a return on equity of 7.12%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the company earned $1.70 EPS. The firm’s revenue was down 28.8% on a year-over-year basis.

EQT Stock Performance

NYSE EQT traded up $1.31 on Wednesday, reaching $39.29. 6,008,965 shares of the stock were exchanged, compared to its average volume of 6,475,380. The firm has a market capitalization of $17.30 billion, a PE ratio of 9.18 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. EQT has a one year low of $30.84 and a one year high of $45.23. The company’s 50-day simple moving average is $36.06 and its two-hundred day simple moving average is $37.99.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s payout ratio is 14.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EQT shares. Wells Fargo & Company cut shares of EQT from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $48.00 to $37.00 in a research note on Wednesday, April 17th. Truist Financial decreased their price objective on shares of EQT from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 5th. Jefferies Financial Group upped their price objective on shares of EQT from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, April 5th. The Goldman Sachs Group cut their price objective on shares of EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $37.00 price objective (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, EQT has an average rating of “Hold” and an average target price of $44.06.

EQT Company Profile

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.