EQT Corporation (EQT) Plans Quarterly Dividend of $0.03
EQT Corporation (NYSE:EQT) declared a quarterly dividend on Wednesday, October 11th, RTT News reports. Shareholders of record on Friday, November 10th will be paid a dividend of 0.03 per share by the oil and gas producer on Friday, December 1st. This represents a $0.12 annualized dividend and a yield of 0.19%.
EQT Corporation has a payout ratio of 13.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect EQT Corporation to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 7.7%.
Shares of EQT Corporation (NYSE:EQT) traded up 0.35% during trading on Wednesday, reaching $63.10. 1,811,873 shares of the company’s stock traded hands. The company has a market cap of $10.94 billion, a price-to-earnings ratio of 2253.57 and a beta of 0.77. EQT Corporation has a 52-week low of $49.63 and a 52-week high of $75.74. The company’s 50-day moving average is $63.20 and its 200 day moving average is $60.50.
EQT Corporation (NYSE:EQT) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. The firm had revenue of $631.10 million during the quarter, compared to analyst estimates of $642.21 million. EQT Corporation had a net margin of 0.20% and a return on equity of 0.91%. The business’s quarterly revenue was up 720.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.35) EPS. Equities analysts forecast that EQT Corporation will post $0.91 EPS for the current year.
EQT has been the subject of a number of recent analyst reports. Scotiabank reiterated an “average” rating and set a $79.00 price target on shares of EQT Corporation in a report on Wednesday, October 4th. Stifel Nicolaus upped their price target on shares of EQT Corporation from $79.00 to $85.00 and gave the company a “buy” rating in a report on Monday, July 10th. KLR Group reiterated a “buy” rating and set a $102.00 price target (up from $92.00) on shares of EQT Corporation in a report on Monday, June 26th. Cowen and Company set a $80.00 price target on shares of EQT Corporation and gave the company a “buy” rating in a report on Tuesday, July 18th. Finally, BMO Capital Markets set a $70.00 price target on shares of EQT Corporation and gave the company a “buy” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $79.30.
In related news, Director A. Bray Jr. Cary acquired 406 shares of EQT Corporation stock in a transaction on Monday, October 2nd. The shares were acquired at an average cost of $65.24 per share, with a total value of $26,487.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.
About EQT Corporation
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
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