EQT Corporation Declares Quarterly Dividend of $0.17 (NYSE:EQT)
by Renee Jackson · The Cerbat GemEQT Corporation (NYSE:EQT – Get Free Report) announced a quarterly dividend on Tuesday, April 14th. Shareholders of record on Wednesday, May 6th will be given a dividend of 0.165 per share by the oil and gas producer on Monday, June 1st. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, May 6th.
EQT has increased its dividend payment by an average of 0.8%annually over the last three years and has increased its dividend every year for the last 3 years. EQT has a dividend payout ratio of 13.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect EQT to earn $4.34 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 15.2%.
EQT Trading Down 1.7%
EQT opened at $56.73 on Wednesday. EQT has a 1-year low of $47.14 and a 1-year high of $68.24. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.27. The company has a market cap of $35.45 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. The company has a fifty day moving average price of $60.92 and a two-hundred day moving average price of $57.38.
EQT (NYSE:EQT – Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.14. EQT had a net margin of 23.59% and a return on equity of 7.25%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The business’s revenue was up 24.8% compared to the same quarter last year. Analysts predict that EQT will post 3.27 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CAO Todd James sold 32,514 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $61.12, for a total transaction of $1,987,255.68. Following the transaction, the chief accounting officer directly owned 58,796 shares in the company, valued at approximately $3,593,611.52. The trade was a 35.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sarah Fenton sold 4,876 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $64.49, for a total transaction of $314,453.24. Following the transaction, the executive vice president owned 52,953 shares in the company, valued at approximately $3,414,938.97. This trade represents a 8.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 61,158 shares of company stock worth $3,742,983. 0.72% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors boosted its holdings in EQT by 104.4% during the fourth quarter. Captrust Financial Advisors now owns 40,787 shares of the oil and gas producer’s stock worth $2,186,000 after purchasing an additional 20,828 shares during the last quarter. Adalta Capital Management LLC boosted its holdings in EQT by 23.2% during the fourth quarter. Adalta Capital Management LLC now owns 13,920 shares of the oil and gas producer’s stock worth $746,000 after purchasing an additional 2,620 shares during the last quarter. Adams Natural Resources Fund Inc. boosted its holdings in EQT by 19.1% during the fourth quarter. Adams Natural Resources Fund Inc. now owns 262,600 shares of the oil and gas producer’s stock worth $14,075,000 after purchasing an additional 42,100 shares during the last quarter. Beck Capital Management LLC boosted its holdings in EQT by 0.7% during the fourth quarter. Beck Capital Management LLC now owns 119,508 shares of the oil and gas producer’s stock worth $6,406,000 after purchasing an additional 775 shares during the last quarter. Finally, Motley Fool Asset Management LLC boosted its holdings in EQT by 9.0% during the fourth quarter. Motley Fool Asset Management LLC now owns 11,075 shares of the oil and gas producer’s stock worth $594,000 after purchasing an additional 918 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.
About EQT
EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.
In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.