EQT Co. (EQT) to Issue Quarterly Dividend of $0.16 on December 2nd

EQT Co. (NYSE:EQT) announced a quarterly dividend on Thursday, October 10th, RTT News reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Wednesday, November 6th.

EQT has raised its dividend by an average of 172.6% annually over the last three years. EQT has a payout ratio of 20.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect EQT to earn $3.43 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 Performance

NYSE:EQT opened at $37.41 on Friday. The company’s 50-day moving average is $33.79 and its two-hundred day moving average is $36.61. The firm has a market capitalization of $16.52 billion, a price-to-earnings ratio of 27.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. EQT has a 1-year low of $30.02 and a 1-year high of $45.23.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The firm had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the firm earned ($0.17) EPS. EQT’s revenue was down 6.5% on a year-over-year basis. Analysts forecast that EQT will post 1.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on EQT shares. Mizuho reduced their target price on shares of EQT from $43.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, October 4th. Stephens decreased their price target on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $42.00 in a research note on Wednesday, August 14th. Piper Sandler downgraded EQT from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $43.00 to $32.00 in a report on Thursday, August 15th. Finally, Citigroup raised 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 research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, EQT presently has an average rating of “Moderate Buy” and a consensus target price of $42.18.

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.