EQT Corporation (NYSE:EQT) Announces Quarterly Dividend of $0.17

Key Points

• EQT announced a quarterly dividend of $0.165 per share, payable June 1 to shareholders of record on May 6 (ex-dividend date May 6), implying an annualized yield of about 1.2%.
• EQT has raised its dividend each year for the past three years (average increase ~0.8%/yr) and the payout is conservatively covered with a 13.2% payout ratio; analysts project $4.34 EPS next year, supporting continued coverage.
• The company beat quarterly EPS estimates ($0.90 vs. $0.76) with revenue up 24.8% YoY to $2.09 billion (slightly below estimates), and analysts rate the stock a "Moderate Buy" with a consensus target of $68.50.

EQT Corporation (NYSE:EQT - Get Free Report) announced a quarterly dividend on Tuesday, April 14th. Shareholders of record on Wednesday, May 6th will be paid a dividend of 0.165 per share by the oil and gas producer on Monday, June 1st. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, May 6th.

EQT has raised its dividend payment by an average of 0.8%per year over the last three years and has raised its dividend every year for the last 3 years. EQT has a dividend payout ratio of 13.2% meaning its dividend is sufficiently covered by earnings. Analysts expect EQT to earn $4.34 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 15.2%.

EQT Stock Performance

Shares of EQT stock opened at $56.73 on Wednesday. EQT has a fifty-two week low of $47.14 and a fifty-two week high of $68.24. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $35.45 billion, a P/E ratio of 17.14, a P/E/G ratio of 1.09 and a beta of 0.70. The company's 50 day moving average price is $60.92 and its two-hundred day moving average price is $57.38.

EQT (NYSE:EQT - Get Free Report) last issued its earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.14. EQT had a net margin of 23.59% and a return on equity of 7.25%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business posted $0.69 earnings per share. The company's quarterly revenue was up 24.8% on a year-over-year basis. On average, equities analysts forecast that EQT will post 3.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EQT shares. Jefferies Financial Group restated a "buy" rating on shares of EQT in a research report on Sunday, January 18th. Sanford C. Bernstein cut their target price on shares of EQT from $73.00 to $69.00 and set an "outperform" rating on the stock in a research report on Monday. Royal Bank Of Canada lifted their price target on shares of EQT from $64.00 to $69.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 8th. Evercore lifted their price target on shares of EQT from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. Finally, Siebert Williams Shank lifted their price target on shares of EQT from $59.00 to $62.00 and gave the stock a "hold" rating in a report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $68.50.

EQT Company Profile

EQT Corporation NYSE: EQT is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT's primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

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