EQT Corporation (NYSE:EQT) released its quarterly earnings results on Thursday. The oil and gas producer reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.16, Bloomberg Earnings reports. EQT Corporation had a net margin of 0.20% and a return on equity of 0.91%. The business had revenue of $660.30 million for the quarter, compared to analysts’ expectations of $667.05 million. During the same period in the prior year, the firm earned ($0.26) earnings per share. EQT Corporation’s revenue was up 18.6% compared to the same quarter last year.
EQT Corporation (NYSE EQT) traded down 1.503% during midday trading on Thursday, reaching $59.945. 6,119,780 shares of the company’s stock traded hands. EQT Corporation has a 1-year low of $49.63 and a 1-year high of $75.74. The stock’s 50 day moving average price is $63.58 and its 200 day moving average price is $60.64. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 2140.893 and a beta of 0.77.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be issued a $0.03 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.12 annualized dividend and a yield of 0.20%. EQT Corporation’s dividend payout ratio (DPR) is presently 400.13%.
Several analysts have recently commented on the stock. BMO Capital Markets reissued a “buy” rating and set a $75.00 price target on shares of EQT Corporation in a research note on Friday, September 1st. Royal Bank Of Canada cut shares of EQT Corporation from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $86.00 to $80.00 in a research note on Wednesday, July 5th. Scotiabank set a $79.00 price target on shares of EQT Corporation and gave the company a “buy” rating in a research note on Tuesday, August 22nd. TheStreet raised shares of EQT Corporation from a “d+” rating to a “c-” rating in a research note on Monday, August 14th. Finally, Seaport Global Securities raised shares of EQT Corporation from a “neutral” rating to a “buy” rating and increased their price target for the company from $57.00 to $79.00 in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $79.20.
In other EQT Corporation news, Director A. Bray Jr. Cary bought 406 shares of EQT Corporation stock in a transaction on Monday, October 2nd. The shares were purchased at an average cost of $65.24 per share, with a total value of $26,487.44. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.
About EQT Corporation
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.