EQT (NYSE:EQT) Posts Quarterly Earnings Results, Beats Estimates By $0.19 EPS

EQT (NYSE:EQT) issued its earnings results on Tuesday. The oil and gas producer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.50 by $0.19, Zacks reports. EQT had a net margin of 5.52% and a return on equity of 3.74%.

EQT Stock Up 0.6 %

EQT stock traded up $0.32 during mid-day trading on Tuesday, reaching $53.75. The stock had a trading volume of 10,204,055 shares, compared to its average volume of 8,036,659. The company has a market capitalization of $32.07 billion, a price-to-earnings ratio of 63.99, a PEG ratio of 0.62 and a beta of 1.08. The company has a 50-day moving average price of $49.05 and a two-hundred day moving average price of $41.26. EQT has a one year low of $30.02 and a one year high of $54.85. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Tuesday, February 18th. EQT’s payout ratio is 75.00%.

Insider Buying and Selling

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the transaction, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EQT. Bank of America began coverage on shares of EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Piper Sandler boosted their price objective on shares of EQT from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price objective on shares of EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Finally, Jefferies Financial Group boosted their price objective on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.89.

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.