EQT Corporation (EQT) to Issue $0.03 Quarterly Dividend

EQT Corporation (NYSE:EQT) announced a quarterly dividend on Wednesday, January 17th, RTT News reports. Stockholders of record on Wednesday, February 14th will be given a dividend of 0.03 per share by the oil and gas producer on Thursday, March 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.21%.

EQT has a payout ratio of 14.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect EQT to earn $1.51 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 7.9%.

EQT (EQT) traded down $0.34 during trading hours on Wednesday, hitting $58.12. 5,142,700 shares of the stock traded hands, compared to its average volume of 3,415,100. The company has a market cap of $15,450.00, a price-to-earnings ratio of 290.60, a P/E/G ratio of 2.58 and a beta of 0.76. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.29. EQT has a 12 month low of $49.63 and a 12 month high of $67.84.

EQT (NYSE:EQT) last released its quarterly earnings data on Thursday, October 26th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.17. The company had revenue of $660.30 million during the quarter, compared to analyst estimates of $667.05 million. EQT had a net margin of 1.39% and a return on equity of 1.61%. EQT’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.26) EPS. equities research analysts anticipate that EQT will post 0.86 EPS for the current fiscal year.

In related news, Director Thomas F. Karam purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were bought at an average cost of $59.26 per share, with a total value of $592,600.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $1,185,200. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David L. Porges sold 53,760 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $59.14, for a total transaction of $3,179,366.40. Following the completion of the transaction, the chairman now directly owns 438,601 shares in the company, valued at $25,938,863.14. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Several analysts recently issued reports on the stock. BMO Capital Markets reissued a “buy” rating and issued a $75.00 price target on shares of EQT in a research report on Tuesday, November 14th. Seaport Global Securities raised shares of EQT from a “neutral” rating to a “buy” rating and lifted their price target for the company from $57.00 to $79.00 in a research report on Tuesday, September 26th. Scotiabank reissued an “average” rating and issued a $79.00 price target on shares of EQT in a research report on Wednesday, October 4th. Royal Bank of Canada set a $79.00 price target on shares of EQT and gave the company a “hold” rating in a research report on Saturday, October 7th. Finally, Morgan Stanley lifted their price target on shares of EQT from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $76.75.

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About EQT

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.

Dividend History for EQT (NYSE:EQT)

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