EQT Co. (NYSE:EQT) Plans Quarterly Dividend of $0.16

EQT Co. (NYSE:EQT) announced a quarterly dividend on Thursday, October 10th, RTT News reports. Investors of record on Wednesday, November 6th will be given a dividend of 0.1575 per share by the oil and gas producer on Monday, December 2nd. This represents a $0.63 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, November 6th.

EQT has raised its dividend payment by an average of 172.6% annually over the last three years. EQT has a payout ratio of 20.6% meaning its dividend is sufficiently covered by earnings. Analysts expect EQT to earn $3.43 per share next year, which means the company should continue to be able to cover its $0.63 annual dividend with an expected future payout ratio of 18.4%.

EQT Stock Performance

Shares of NYSE EQT opened at $37.41 on Friday. The stock’s fifty day simple moving average is $33.79 and its 200 day simple moving average is $36.61. The stock has a market capitalization of $16.52 billion, a price-to-earnings ratio of 27.11 and a beta of 1.06. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. EQT has a 52-week low of $30.02 and a 52-week high of $45.23.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The business had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The firm’s revenue was down 6.5% compared to the same quarter last year. As a group, sell-side analysts forecast that EQT will post 1.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of EQT from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, August 14th. Scotiabank raised their price target on EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 12th. Morgan Stanley reissued an “overweight” rating and issued a $45.00 price target on shares of EQT in a research note on Friday, September 13th. Stephens cut their price objective on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, Piper Sandler downgraded shares of EQT from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $43.00 to $32.00 in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, EQT has an average rating of “Moderate Buy” and an average target price of $42.18.

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.