EQT (EQT) to Release Earnings on Tuesday

EQT (NYSE:EQT) is set to announce its earnings results after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.66 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. On average, analysts expect EQT to post $2 EPS for the current fiscal year and $5 EPS for the next fiscal year.

EQT Stock Performance

NYSE EQT opened at $36.53 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. EQT has a fifty-two week low of $30.84 and a fifty-two week high of $45.23. The stock’s fifty day moving average is $35.77 and its two-hundred day moving average is $38.14. The firm has a market capitalization of $16.09 billion, a P/E ratio of 8.60 and a beta of 1.12.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Friday, February 16th. EQT’s payout ratio is presently 14.82%.

Hedge Funds Weigh In On EQT

A number of institutional investors have recently modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new stake in EQT in the 2nd quarter worth approximately $33,000. Tyler Stone Wealth Management acquired a new position in EQT in the second quarter valued at $40,000. Belpointe Asset Management LLC lifted its position in 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 worth $40,000 after buying an additional 918 shares during the period. Clearstead Advisors LLC acquired a new stake in EQT in the 3rd quarter worth about $41,000. Finally, Penserra Capital Management LLC purchased a new stake in EQT in the 1st quarter valued at about $47,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EQT shares. The Goldman Sachs Group lowered their price target on EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. Mizuho reiterated a “neutral” rating and issued a $39.00 price objective on shares of EQT in a research note on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price objective on shares of EQT in a research note on Tuesday, March 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $37.00 price target (down from $39.00) on shares of EQT in a research note on Wednesday, March 20th. Finally, Piper Sandler upped their price target on shares of EQT from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.13.

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.