EQT (NYSE:EQT) Issues Earnings Results

EQT (NYSE:EQT) issued its quarterly earnings results on Tuesday. The oil and gas producer reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.17, Zacks reports. EQT had a return on equity of 6.88% and a net margin of 22.59%.

EQT Trading Down 1.9%

EQT stock traded down $1.09 during trading hours on Tuesday, reaching $57.61. The stock had a trading volume of 9,974,731 shares, compared to its average volume of 11,033,163. The company has a fifty day simple moving average of $54.50 and a 200-day simple moving average of $54.38. EQT has a 52 week low of $43.57 and a 52 week high of $62.23. The stock has a market cap of $35.95 billion, a PE ratio of 19.73, a PEG ratio of 0.47 and a beta of 0.74. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.58 and a quick ratio of 0.58.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.66 annualized dividend and a yield of 1.1%. EQT’s dividend payout ratio is presently 22.60%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in EQT by 495.2% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock worth $7,468,000 after buying an additional 106,545 shares during the period. Horizon Investments LLC increased its stake in shares of EQT by 43.6% during the third quarter. Horizon Investments LLC now owns 85,502 shares of the oil and gas producer’s stock valued at $4,640,000 after buying an additional 25,971 shares during the period. Captrust Financial Advisors raised its holdings in shares of EQT by 104.4% during the fourth quarter. Captrust Financial Advisors now owns 40,787 shares of the oil and gas producer’s stock valued at $2,186,000 after acquiring an additional 20,828 shares in the last quarter. Focus Partners Wealth lifted its stake in EQT by 9.0% in the first quarter. Focus Partners Wealth now owns 21,637 shares of the oil and gas producer’s stock worth $1,156,000 after acquiring an additional 1,789 shares during the period. Finally, Adalta Capital Management LLC lifted its stake in EQT by 71.2% in the third quarter. Adalta Capital Management LLC now owns 11,300 shares of the oil and gas producer’s stock worth $615,000 after acquiring an additional 4,700 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

EQT has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of EQT in a research report on Monday, December 29th. JPMorgan Chase & Co. decreased their price target on shares of EQT from $64.00 to $58.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Citigroup cut their price objective on shares of EQT from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, December 19th. TD Cowen reduced their target price on shares of EQT from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Finally, Wells Fargo & Company lowered their price target on shares of EQT from $68.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, October 23rd. Nineteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, EQT presently has an average rating of “Moderate Buy” and an average target price of $64.27.

EQT Company Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.