EQT (NYSE:EQT) Releases Quarterly Earnings Results, Beats Estimates By $0.20 EPS

EQT (NYSE:EQT - Get Free Report) announced its quarterly earnings results on Tuesday. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.20, Zacks reports. The company had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%.

EQT Stock Up 2.9 %

Shares of EQT stock traded up $1.44 on Friday, reaching $50.26. The stock had a trading volume of 9,360,326 shares, compared to its average volume of 7,802,103. EQT has a 1 year low of $30.02 and a 1 year high of $56.66. The company has a 50 day moving average price of $50.31 and a 200 day moving average price of $47.09. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $30.09 billion, a P/E ratio of 125.65, a P/E/G ratio of 0.64 and a beta of 1.35.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT's payout ratio is currently 110.53%.

Analysts Set New Price Targets

A number of research firms have recently commented on EQT. Scotiabank cut shares of EQT from a "sector outperform" rating to a "sector perform" rating and cut their price target for the company from $55.00 to $54.00 in a report on Friday, January 17th. The Goldman Sachs Group reissued a "reduce" rating on shares of EQT in a report on Wednesday, February 12th. StockNews.com cut shares of EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Mizuho upped their price objective on EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Finally, Morgan Stanley upped their target price on shares of EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $55.39.

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.