EQT Co. Declares Quarterly Dividend of $0.16 (NYSE:EQT)

EQT Co. (NYSE:EQT) announced a quarterly dividend on Thursday, October 10th, RTT News reports. Stockholders of record on Wednesday, November 6th will be paid a dividend of 0.1575 per share by the oil and gas producer on Monday, December 2nd. This represents a $0.63 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, November 6th.

EQT has raised its dividend payment by an average of 172.6% annually over the last three years. EQT has a dividend payout ratio of 21.2% meaning its dividend is sufficiently covered by earnings. Analysts expect EQT to earn $3.42 per share next year, which means the company should continue to be able to cover its $0.63 annual dividend with an expected future payout ratio of 18.4%.

EQT Stock Up 3.3 %

EQT stock opened at $36.80 on Tuesday. The firm has a market capitalization of $16.25 billion, a price-to-earnings ratio of 43.81 and a beta of 1.06. EQT has a 1-year low of $30.02 and a 1-year high of $44.47. The firm has a 50 day simple moving average of $35.31 and a 200 day simple moving average of $36.61. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that EQT will post 1.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EQT shares. StockNews.com raised shares of EQT to a “sell” rating in a research note on Friday, July 26th. Stephens increased their price target on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley reiterated an “overweight” rating and set a $45.00 price target on shares of EQT in a report on Friday, September 13th. Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and raised their target price for the stock from $37.00 to $44.00 in a report on Thursday, October 3rd. Finally, Piper Sandler lifted their price target on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.61.

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.