EQT (EQT) Releases Earnings Results, Beats Estimates By $0.11 EPS
EQT (NYSE:EQT) posted its quarterly earnings data on Thursday. The oil and gas producer reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11, MarketWatch Earnings reports. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.17 billion. EQT had a positive return on equity of 4.46% and a negative net margin of 45.88%. EQT’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 earnings per share.
EQT traded down $0.59 during midday trading on Thursday, reaching $20.16. The company had a trading volume of 5,075,874 shares, compared to its average volume of 4,397,836. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 1.61 and a beta of 0.71. EQT has a 1 year low of $16.29 and a 1 year high of $31.28.
The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Tuesday, May 14th. EQT’s payout ratio is 7.06%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue increased its position in EQT by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 27,406 shares of the oil and gas producer’s stock worth $568,000 after buying an additional 505 shares in the last quarter. LMR Partners LLP grew its position in shares of EQT by 3.4% during the fourth quarter. LMR Partners LLP now owns 17,245 shares of the oil and gas producer’s stock worth $326,000 after purchasing an additional 563 shares in the last quarter. Keeley Teton Advisors LLC grew its position in shares of EQT by 1.2% during the fourth quarter. Keeley Teton Advisors LLC now owns 52,582 shares of the oil and gas producer’s stock worth $993,000 after purchasing an additional 645 shares in the last quarter. Eaton Vance Management grew its position in shares of EQT by 0.3% during the fourth quarter. Eaton Vance Management now owns 196,459 shares of the oil and gas producer’s stock worth $3,711,000 after purchasing an additional 677 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of EQT by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 68,200 shares of the oil and gas producer’s stock worth $1,414,000 after purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds own 96.49% of the company’s stock.
A number of research firms recently commented on EQT. Royal Bank of Canada cut EQT from an “outperform” rating to a “sector perform” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Jefferies Financial Group reiterated a “hold” rating and set a $21.00 price objective on shares of EQT in a research report on Tuesday, January 29th. MKM Partners reiterated a “neutral” rating and set a $23.00 price objective on shares of EQT in a research report on Tuesday, April 16th. Morgan Stanley set a $10.00 price objective on EQT and gave the company a “sell” rating in a research report on Tuesday, January 29th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $24.00 price objective on shares of EQT in a research report on Tuesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $37.13.
EQT Company Profile
EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.
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