EQT Co. (NYSE:EQT – Get Rating) announced a quarterly dividend on Wednesday, July 20th, RTT News reports. Stockholders of record on Tuesday, August 9th will be given a dividend of 0.15 per share by the oil and gas producer on Thursday, September 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, August 8th. This is a boost from EQT’s previous quarterly dividend of $0.13.
EQT has a payout ratio of 7.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect EQT to earn $7.99 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 7.5%.
EQT Stock Performance
EQT opened at $42.28 on Friday. The stock has a market cap of $15.64 billion, a PE ratio of -15.54, a P/E/G ratio of 0.22 and a beta of 1.19. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.51. EQT has a 1 year low of $15.71 and a 1 year high of $50.41. The stock’s 50 day simple moving average is $40.54 and its 200-day simple moving average is $34.78.
Analyst Ratings Changes
A number of analysts have weighed in on EQT shares. Citigroup reiterated a “buy” rating and issued a $48.00 price target on shares of EQT in a research report on Thursday, July 21st. Scotiabank started coverage on EQT in a research report on Wednesday. They issued an “outperform” rating and a $54.00 price target on the stock. StockNews.com upgraded EQT from a “sell” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company upped their price target on EQT from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, July 11th. Finally, Credit Suisse Group increased their target price on EQT from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.83.
Hedge Funds Weigh In On EQT
Several large investors have recently made changes to their positions in the company. Penserra Capital Management LLC acquired a new position in EQT in the first quarter valued at about $47,000. Geneos Wealth Management Inc. lifted its stake in EQT by 15.6% in the first quarter. Geneos Wealth Management Inc. now owns 2,605 shares of the oil and gas producer’s stock valued at $89,000 after buying an additional 351 shares during the period. Acadian Asset Management LLC acquired a new position in EQT in the first quarter valued at about $96,000. Covestor Ltd lifted its stake in EQT by 526.1% in the first quarter. Covestor Ltd now owns 2,899 shares of the oil and gas producer’s stock valued at $100,000 after buying an additional 2,436 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new position in EQT in the first quarter valued at about $212,000. Institutional investors and hedge funds own 90.34% of the company’s stock.
EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play.
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