EQT (NYSE:EQT) Hits New 12-Month High on Earnings Beat

EQT Co. (NYSE:EQT) shares hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $56.24 and last traded at $56.02, with a volume of 1351603 shares trading hands. The stock had previously closed at $53.78.

The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.19. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.1575 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.16%. EQT’s dividend payout ratio is presently 75.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Truist Financial lifted their price objective on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. boosted their price target on EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Bank of America assumed coverage on shares of EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Piper Sandler increased their target price on EQT from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and a consensus price target of $51.89.

Insider Buying and Selling

In related news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of EQT

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. HM Payson & Co. bought a new stake in EQT during the third quarter worth approximately $25,000. Truvestments Capital LLC acquired a new position in shares of EQT during the 3rd quarter valued at $30,000. Quarry LP raised its stake in shares of EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 578 shares in the last quarter. University of Texas Texas AM Investment Management Co. lifted its holdings in shares of EQT by 47.7% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock valued at $44,000 after buying an additional 310 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after buying an additional 205 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

EQT Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a market capitalization of $32.42 billion, a price-to-earnings ratio of 64.69, a price-to-earnings-growth ratio of 0.65 and a beta of 1.08. The business has a fifty day moving average of $49.26 and a 200-day moving average of $41.41.

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.