EQT Corporation (NYSE:EQT) Increases Dividend to $0.17 Per Share

EQT Corporation (NYSE:EQT) announced a quarterly dividend on Wednesday, October 14th. Investors of record on Wednesday, November 4th will be given a dividend of $0.17 per share by the oil and gas producer on Tuesday, December 1st. This represents a $0.68 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 4th. This is a 3.0% increase from EQT’s previous quarterly dividend of $0.1650.

EQT has increased its dividend by an average of 0.8% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. EQT has a dividend payout ratio of 13.2% meaning its dividend is sufficiently covered by earnings. Analysts expect EQT to earn $3.49 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 18.9%.

EQT Stock Performance

Shares of NYSE EQT opened at $52.71 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $52.92 and its two-hundred day moving average price is $54.29. EQT has a 52-week low of $47.94 and a 52-week high of $68.24. The stock has a market capitalization of $32.97 billion, a P/E ratio of 12.23 and a beta of 0.66.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. The firm’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same period last year, the company posted $0.45 earnings per share. As a group, sell-side analysts forecast that EQT will post 3.90 earnings per share for the current year.

EQT Company Profile

EQT Corporation is a natural gas producer headquartered in Pittsburgh, Pennsylvania. The company explores for, develops, and produces natural gas, natural gas liquids, and crude oil, with its operations concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations.

In addition to its upstream production activities, EQT has interests in the midstream infrastructure used to gather, process, transport, and store natural gas. These assets support the movement of production from well sites to regional and interstate markets.