EQT (NYSE:EQT) Stock Price Down 4.7% on Disappointing Earnings

EQT Corporation (NYSE:EQT - Get Free Report)'s stock price dropped 4.7% during trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $51.26 and last traded at $51.80. Approximately 7,898,659 shares traded hands during trading, a decline of 5% from the average daily volume of 8,326,575 shares. The stock had previously closed at $54.34.

The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). EQT had a return on equity of 6.24% and a net margin of 15.87%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the business earned ($0.08) EPS.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th will be issued a $0.1575 dividend. The ex-dividend date is Wednesday, August 6th. This represents a $0.63 annualized dividend and a yield of 1.16%. EQT's dividend payout ratio (DPR) is currently 34.05%.

Analysts Set New Price Targets

Several research analysts have weighed in on EQT shares. Scotiabank reaffirmed a "sector perform" rating and set a $66.00 target price (up previously from $62.00) on shares of EQT in a research note on Friday, July 11th. Mizuho raised shares of EQT to an "outperform" rating and set a $66.00 price objective for the company in a research report on Tuesday, July 8th. Morgan Stanley reiterated an "overweight" rating on shares of EQT in a report on Tuesday, July 15th. Stephens cut their target price on EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Wall Street Zen lowered EQT from a "hold" rating to a "sell" rating in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.79.

Institutional Trading of EQT

Several hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new stake in EQT during the 1st quarter worth about $35,000. Harbour Investments Inc. lifted its stake in EQT by 48.4% during the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock worth $37,000 after purchasing an additional 226 shares during the last quarter. University of Texas Texas AM Investment Management Co. boosted its holdings in EQT by 47.7% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock valued at $44,000 after purchasing an additional 310 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in EQT in the fourth quarter valued at approximately $55,000. Finally, Colonial Trust Co SC increased its stake in EQT by 255.5% in the fourth quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock valued at $66,000 after purchasing an additional 1,022 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Trading Up 4.1%

The company has a market cap of $32.39 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 0.36 and a beta of 0.65. The company has a quick ratio of 0.57, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. The business's fifty day simple moving average is $56.45 and its two-hundred day simple moving average is $53.04.

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.