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

EQT Co. (NYSE:EQTGet Free Report) declared a quarterly dividend on Thursday, February 8th, RTT News reports. Stockholders of record on Tuesday, February 20th will be paid a dividend of 0.1575 per share by the oil and gas producer on Friday, March 1st. This represents a $0.63 annualized dividend and a dividend yield of 1.84%.

EQT has increased its dividend by an average of 172.6% annually over the last three years and has increased its dividend every year for the last 2 years. EQT has a payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect EQT to earn $2.40 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 26.3%.

EQT Stock Performance

Shares of NYSE EQT opened at $34.32 on Friday. The company has a market cap of $14.12 billion, a PE ratio of 4.64, a P/E/G ratio of 0.91 and a beta of 1.12. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. EQT has a 12-month low of $28.10 and a 12-month high of $45.23. The stock has a 50 day simple moving average of $37.09 and a 200-day simple moving average of $40.14.

Institutional Investors Weigh In On EQT

Large investors have recently made changes to their positions in the company. Capital World Investors acquired a new stake in EQT in the first quarter valued at approximately $497,156,000. Clearbridge Investments LLC lifted its stake in EQT by 66.1% in the first quarter. Clearbridge Investments LLC now owns 11,115,761 shares of the oil and gas producer’s stock valued at $382,493,000 after acquiring an additional 4,423,003 shares during the last quarter. Geode Capital Management LLC lifted its stake in EQT by 1.3% in the first quarter. Geode Capital Management LLC now owns 7,873,308 shares of the oil and gas producer’s stock valued at $250,710,000 after acquiring an additional 103,314 shares during the last quarter. Renaissance Technologies LLC lifted its stake in EQT by 6,029.6% in the first quarter. Renaissance Technologies LLC now owns 6,424,264 shares of the oil and gas producer’s stock valued at $221,059,000 after acquiring an additional 6,319,457 shares during the last quarter. Finally, PointState Capital LP acquired a new stake in shares of EQT in the first quarter worth $163,646,000. Institutional investors own 99.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on EQT shares. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 target price on shares of EQT in a research report on Thursday, January 18th. Morgan Stanley upped their target price on EQT from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 29th. Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Monday, December 11th. StockNews.com downgraded EQT from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Finally, Piper Sandler dropped their price target on EQT from $52.00 to $49.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $45.86.

Get Our Latest Stock Analysis on EQT

About EQT

(Get Free Report)

EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2022, it had 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves across approximately 2.0 million gross acres, including 1.8 million gross acres in the Marcellus play.

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Dividend History for EQT (NYSE:EQT)

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