EQT (NYSE:EQT) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

EQT (NYSE:EQT) issued its quarterly earnings data on Tuesday. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.07, Briefing.com reports. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share.

EQT Stock Up 3.4 %

EQT stock opened at $38.57 on Thursday. EQT has a 1-year low of $30.02 and a 1-year high of $45.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market cap of $17.03 billion, a PE ratio of 27.95 and a beta of 1.06. The stock’s fifty day moving average is $35.13 and its two-hundred day moving average is $36.60.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio is presently 45.65%.

Analyst Ratings Changes

Several research analysts recently weighed in on EQT shares. Truist Financial lowered their price objective on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Piper Sandler lowered EQT from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $43.00 to $32.00 in a research report on Thursday, August 15th. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, August 14th. Stephens raised their price target on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, StockNews.com upgraded EQT to a “sell” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and an average target price of $42.17.

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.