EQT (NYSE:EQT) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

EQT (NYSE:EQT) issued its earnings results on Tuesday. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12, Briefing.com reports. The firm had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.55%. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) earnings per share.

EQT Stock Performance

EQT stock traded down $0.16 during mid-day trading on Thursday, reaching $34.94. The company had a trading volume of 83,715 shares, compared to its average volume of 7,059,940. The company has a 50 day moving average of $38.58 and a 200-day moving average of $37.34. EQT has a 52 week low of $32.07 and a 52 week high of $45.23. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The firm has a market cap of $15.43 billion, a price-to-earnings ratio of 25.43 and a beta of 1.12.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Wednesday, August 7th. EQT’s dividend payout ratio (DPR) is currently 45.65%.

Insider Activity at EQT

In related news, insider Lesley Evancho sold 46,884 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the transaction, the insider now directly owns 160,884 shares in the company, valued at $6,642,900.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the completion of the sale, the executive vice president now owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total value of $1,935,840.36. Following the completion of the sale, the insider now directly owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EQT. The Goldman Sachs Group reduced their target price on EQT from $48.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Scotiabank raised their target price on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Friday, July 12th. Sanford C. Bernstein upgraded shares of EQT from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $27.00 to $34.00 in a report on Wednesday, April 10th. JPMorgan Chase & Co. raised shares of EQT from a “neutral” rating to an “overweight” rating and set a $42.00 target price on the stock in a research note on Tuesday. Finally, Morgan Stanley raised their target price on EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, EQT currently has an average rating of “Moderate Buy” and an average price target of $45.50.

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.