EQT Co. (NYSE:EQT) Declares Quarterly Dividend of $0.16

EQT Co. (NYSE:EQT) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Stockholders of record on Tuesday, February 18th will be paid a dividend of 0.1575 per share by the oil and gas producer on Monday, March 3rd. This represents a $0.63 annualized dividend and a dividend yield of 1.23%.

EQT has a dividend payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect EQT to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.63 annual dividend with an expected future payout ratio of 19.3%.

EQT Price Performance

Shares of EQT opened at $51.36 on Friday. The company has a market cap of $30.65 billion, a price-to-earnings ratio of 61.14, a PEG ratio of 0.62 and a beta of 1.08. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The company’s fifty day simple moving average is $47.73 and its 200 day simple moving average is $40.19. EQT has a 1-year low of $30.02 and a 1-year high of $54.85.

Wall Street Analyst Weigh In

Several analysts have weighed in on EQT shares. Bank of America assumed coverage on shares of EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective for the company. Sanford C. Bernstein upgraded EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target for the company in a research note on Wednesday, January 15th. Wells Fargo & Company raised their price objective on EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Citigroup upped their target price on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Truist Financial raised their price target on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.94.

Insider Activity

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.63% of the company’s stock.

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.