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

EQT Co. (NYSE:EQT) announced a quarterly dividend on Wednesday, April 17th, RTT News reports. Shareholders of record on Wednesday, May 8th will be given a dividend of 0.1575 per share by the oil and gas producer on Saturday, June 1st. This represents a $0.63 annualized dividend and a yield of 1.75%.

EQT has increased its dividend by an average of 172.6% per year over the last three years and has increased its dividend every year for the last 2 years. EQT has a dividend payout ratio of 15.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect EQT to earn $4.53 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 13.9%.

EQT Stock Down 0.4 %

EQT stock traded down $0.16 during trading hours on Wednesday, hitting $36.04. The company’s stock had a trading volume of 5,246,030 shares, compared to its average volume of 6,433,541. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average price of $35.81 and a two-hundred day moving average price of $38.11. The company has a market capitalization of $15.87 billion, a PE ratio of 8.54 and a beta of 1.12. EQT has a 12 month low of $30.84 and a 12 month high of $45.23.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. EQT’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. On average, equities research analysts expect that EQT will post 1.31 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Truist Financial reduced their target price on shares of EQT from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Royal Bank of Canada restated an “outperform” rating and set a $46.00 target price on shares of EQT in a report on Tuesday, March 5th. JPMorgan Chase & Co. restated a “neutral” rating and set a $37.00 target price (down from $39.00) on shares of EQT in a report on Wednesday, March 20th. Wells Fargo & Company downgraded shares of EQT from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $48.00 to $37.00 in a report on Wednesday. Finally, The Goldman Sachs Group lowered their price objective on shares of EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, EQT currently has a consensus rating of “Hold” and a consensus price target of $43.13.

Institutional Investors Weigh In On EQT

Institutional investors and hedge funds have recently modified their holdings of the business. Laurel Wealth Advisors LLC purchased a new position in EQT during the 2nd quarter worth $33,000. Tyler Stone Wealth Management purchased a new stake in shares of EQT in the second quarter worth about $40,000. Clearstead Advisors LLC acquired a new position in EQT in the 3rd quarter worth about $41,000. Belpointe Asset Management LLC raised its holdings in shares of EQT by 270.0% during the first quarter. Belpointe Asset Management LLC now owns 1,258 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 918 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new position in shares of EQT in the first quarter valued at approximately $47,000. 90.81% of the stock is owned by institutional investors.

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.