EQT (NYSE:EQT) Announces Earnings Results, Beats Estimates By $0.06 EPS

EQT (NYSE:EQT) announced its quarterly earnings results on Tuesday. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06, Briefing.com reports. EQT had a return on equity of 4.08% and a net margin of 5.52%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the business earned $0.30 EPS. EQT’s revenue was up 8.2% compared to the same quarter last year.

EQT Stock Performance

EQT stock traded down $0.16 during midday trading on Friday, hitting $36.38. 1,540,843 shares of the company’s stock were exchanged, compared to its average volume of 7,011,642. The stock has a market cap of $16.07 billion, a price-to-earnings ratio of 43.51 and a beta of 1.06. The firm’s 50 day simple moving average is $35.20 and its 200 day simple moving average is $36.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. EQT has a 12-month low of $30.02 and a 12-month high of $45.23.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.73%. The ex-dividend date is Wednesday, November 6th. EQT’s payout ratio is currently 75.00%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Piper Sandler downgraded EQT from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $43.00 to $32.00 in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Truist Financial reduced their price objective on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Mizuho cut their price target on EQT from $43.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, October 4th. Finally, Scotiabank increased their price target on shares of EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.17.

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.