EQT (NYSE:EQT) Issues Earnings Results, Beats Expectations By $0.06 EPS

EQT (NYSE:EQT) released its quarterly earnings data on Tuesday. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06, Briefing.com reports. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 4.08%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 earnings per share.

EQT Trading Down 0.4 %

EQT stock traded down $0.16 during mid-day trading on Friday, reaching $36.38. 1,540,843 shares of the stock traded hands, compared to its average volume of 7,011,642. The company has a current ratio of 0.73, a quick 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. The company has a market cap of $16.07 billion, a P/E ratio of 43.51 and a beta of 1.06. The stock’s fifty day moving average is $35.20 and its 200-day moving average is $36.60.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.73%. EQT’s dividend payout ratio (DPR) is 75.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EQT shares. Stephens boosted their price objective on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday. Morgan Stanley restated an “overweight” rating and issued a $45.00 target price on shares of EQT in a report on Friday, September 13th. Wolfe Research began coverage on shares of EQT in a report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 target price for the company. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $42.00 in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. One equities 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.17.

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.