Equinor ASA to Issue Quarterly Dividend of $0.35 (NYSE:EQNR)

Equinor ASA (NYSE:EQNR) announced a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.35 per share on Friday, February 28th. This represents a $1.40 annualized dividend and a yield of 5.94%. The ex-dividend date of this dividend is Friday, February 14th.

Equinor ASA has increased its dividend by an average of 34.1% per year over the last three years. Equinor ASA has a payout ratio of 45.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Equinor ASA to earn $3.49 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 40.1%.

Equinor ASA Stock Up 0.1 %

Shares of EQNR traded up $0.03 during midday trading on Tuesday, hitting $23.57. The company had a trading volume of 3,250,031 shares, compared to its average volume of 3,424,237. The company’s 50-day simple moving average is $24.03 and its 200-day simple moving average is $25.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.38 and a current ratio of 1.48. Equinor ASA has a 1 year low of $21.85 and a 1 year high of $29.49. The firm has a market capitalization of $65.81 billion, a P/E ratio of 7.23, a P/E/G ratio of 1.19 and a beta of 0.84.

Analyst Upgrades and Downgrades

EQNR has been the subject of several analyst reports. Morgan Stanley upgraded shares of Equinor ASA from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $25.80 to $30.90 in a report on Tuesday, January 7th. Redburn Atlantic upgraded shares of Equinor ASA from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 20th. Berenberg Bank raised Equinor ASA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. raised Equinor ASA from an “underweight” rating to an “overweight” rating in a report on Monday, December 9th. Finally, Barclays upgraded Equinor ASA from an “equal weight” rating to an “overweight” rating in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.45.

Equinor ASA Company Profile

Equinor ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and other forms of energy in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; Renewables; and Other segments.