EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play. The company was founded in 1878 and is headquartered in Pittsburgh, Pennsylvania.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of EQT from $58.00 to $59.00 and gave the stock an "overweight" rating in a research report on Friday, July 22nd. Wells Fargo & Company boosted their price target on shares of EQT from $51.00 to $62.00 and gave the stock an "overweight" rating in a research note on Monday, July 11th. Mizuho dropped their price target on shares of EQT from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, July 19th. StockNews.com raised shares of EQT from a "sell" rating to a "hold" rating in a research note on Wednesday, August 3rd. Finally, Scotiabank began coverage on shares of EQT in a research note on Wednesday, August 3rd. They issued an "outperform" rating and a $54.00 target price for the company. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.83.
EQT Stock Performance
EQT Stock traded up $1.57 during trading hours on Tuesday, reaching $42.91. The stock had a trading volume of 5,118,375 shares, compared to its average volume of 8,893,638. The stock has a market capitalization of $15.87 billion, a PE ratio of -15.78, a price-to-earnings-growth ratio of 0.22 and a beta of 1.19. The stock has a 50-day simple moving average of $40.30 and a 200 day simple moving average of $35.17. EQT has a fifty-two week low of $15.71 and a fifty-two week high of $50.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.57 and a quick ratio of 0.57.
EQT (NYSE:EQT - Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The oil and gas producer reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.32. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. EQT's revenue for the quarter was up 61.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. Analysts predict that EQT will post 3.72 EPS for the current fiscal year.
EQT Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Tuesday, August 9th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 8th. This is a positive change from EQT's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 1.40%. EQT's dividend payout ratio is presently -18.38%.