EQT Corporation (NYSE:EQT) Raises Dividend to $0.17 Per Share

Key Points

• EQT raised its quarterly dividend 3% to $0.17 per share, equivalent to $0.68 annually and a 1.3% yield. Shareholders of record on November 4 will receive the payment on December 1.
• The dividend appears well covered, with a current payout ratio of 13.2% and an expected future payout ratio of 18.9%, based on analysts’ projected earnings.
• EQT’s latest quarterly results fell short of expectations: adjusted EPS was $0.39 versus the $0.41 consensus, while revenue declined 29.2% year over year to $1.68 billion.

EQT Corporation (NYSE:EQT - Get Free Report) announced a quarterly dividend on Wednesday, October 14th. Shareholders of record on Wednesday, November 4th will be given a dividend of $0.17 per share by the oil and gas producer on Tuesday, December 1st. This represents a $0.68 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, November 4th. This is a 3.0% increase from EQT's previous quarterly dividend of $0.1650.

EQT has raised its dividend by an average of 0.8% annually over the last three years and has increased its dividend every year for the last 3 years. EQT has a payout ratio of 13.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect EQT to earn $3.49 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 18.9%.

EQT Trading Down 3.2%

EQT stock opened at $52.71 on Thursday. EQT has a 1-year low of $47.94 and a 1-year high of $68.24. The firm has a market cap of $32.97 billion, a P/E ratio of 12.23 and a beta of 0.66. The business's 50 day moving average is $52.92 and its 200-day moving average is $54.29. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19.

EQT (NYSE:EQT - Get Free Report) last issued its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%. The company's quarterly revenue was down 29.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 earnings per share. Equities analysts anticipate that EQT will post 3.90 earnings per share for the current fiscal year.

About EQT

EQT Corporation is a natural gas producer headquartered in Pittsburgh, Pennsylvania. The company explores for, develops, and produces natural gas, natural gas liquids, and crude oil, with its operations concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations.

In addition to its upstream production activities, EQT has interests in the midstream infrastructure used to gather, process, transport, and store natural gas. These assets support the movement of production from well sites to regional and interstate markets.

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