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.
EQT Stock Up 4.3 %
Shares of NYSE:EQT traded up $1.94 during midday trading on Tuesday, reaching $47.19. 7,709,384 shares of the company were exchanged, compared to its average volume of 8,783,415. The firm has a market cap of $17.46 billion, a PE ratio of -17.35, a P/E/G ratio of 0.24 and a beta of 1.19. EQT has a fifty-two week low of $15.71 and a fifty-two week high of $50.41. The stock has a fifty day simple moving average of $40.00 and a two-hundred day simple moving average of $35.97. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.51.
EQT (NYSE:EQT - Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.32. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. The business's revenue for the quarter was up 61.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 EPS. As a group, sell-side analysts forecast that EQT will post 3.77 earnings per share for the current year.
EQT Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Tuesday, August 9th will be paid a dividend of $0.15 per share. This is a boost from EQT's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, August 8th. EQT's dividend payout ratio (DPR) is currently -22.06%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Piper Sandler raised their price objective on shares of EQT from $58.00 to $59.00 and gave the company an "overweight" rating in a research note on Friday, July 22nd. Scotiabank assumed coverage on EQT in a research note on Wednesday, August 3rd. They set an "outperform" rating and a $54.00 price objective for the company. Mizuho reduced their target price on EQT from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, July 19th. Citigroup reaffirmed a "buy" rating and issued a $48.00 price target on shares of EQT in a research note on Thursday, July 21st. Finally, TD Securities lifted their price objective on shares of EQT from $47.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, April 29th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.83.