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

EQT (NYSE:EQT) posted its quarterly earnings results on Tuesday. The oil and gas producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17, Briefing.com reports. EQT had a net margin of 25.12% and a return on equity of 7.12%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business earned $1.70 earnings per share. The firm’s revenue for the quarter was down 28.8% on a year-over-year basis.

EQT Stock Performance

Shares of NYSE:EQT traded up $1.68 during midday trading on Wednesday, hitting $39.66. The company had a trading volume of 5,010,095 shares, compared to its average volume of 6,464,955. The company has a market cap of $17.47 billion, a price-to-earnings ratio of 9.18 and a beta of 1.12. 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 fifty day moving average of $36.06 and a two-hundred day moving average of $37.99. EQT has a 12-month low of $30.84 and a 12-month high of $45.23.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be issued a $0.1575 dividend. 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 1.59%. EQT’s payout ratio is 14.82%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Sanford C. Bernstein upgraded EQT from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $27.00 to $34.00 in a research note on Wednesday, April 10th. TD Cowen initiated coverage on EQT in a report on Friday, April 19th. They issued a “hold” rating and a $43.00 price target for the company. Mizuho upped their price target on EQT from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. StockNews.com raised shares of EQT to a “sell” rating in a report on Tuesday, March 12th. Finally, Wells Fargo & Company cut shares of EQT from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $48.00 to $37.00 in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $44.06.

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.