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

EQT (NYSE:EQT) posted its earnings results on Tuesday. The oil and gas producer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17, Briefing.com reports. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.70%. The firm’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.70 earnings per share.

EQT Trading Up 3.8 %

EQT opened at $39.42 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $17.36 billion, a price-to-earnings ratio of 28.57 and a beta of 1.12. The firm has a 50 day simple moving average of $36.19 and a 200 day simple moving average of $38.00. EQT has a fifty-two week low of $30.84 and a fifty-two week high of $45.23.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.60%. EQT’s payout ratio is 45.65%.

Analysts Set New Price Targets

EQT has been the topic of a number of analyst reports. Wells Fargo & Company cut shares of EQT from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $48.00 to $37.00 in a research note on Wednesday, April 17th. Truist Financial reduced their price target on shares of EQT from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Stephens boosted their price target on shares of EQT from $46.00 to $47.00 and gave the company an “equal weight” rating in a research report on Wednesday. Piper Sandler reduced their price target on shares of EQT from $47.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Finally, TD Cowen started coverage on shares of EQT in a research report on Friday, April 19th. They issued a “hold” rating and a $43.00 price target on the stock. 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.