EQT Co. to Post FY2024 Earnings of $0.76 Per Share, Capital One Financial Forecasts (NYSE:EQT)

EQT Co. (NYSE:EQT) – Investment analysts at Capital One Financial lifted their FY2024 earnings estimates for shares of EQT in a report issued on Wednesday, April 24th. Capital One Financial analyst B. Velie now expects that the oil and gas producer will post earnings per share of $0.76 for the year, up from their prior forecast of $0.56. The consensus estimate for EQT’s current full-year earnings is $1.01 per share.

A number of other equities research analysts have also issued reports on the stock. Truist Financial dropped their price objective on shares of EQT from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 5th. Piper Sandler restated an “overweight” rating and set a $46.00 price target (up previously from $41.00) on shares of EQT in a report on Tuesday. The Goldman Sachs Group decreased their price objective on EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Sanford C. Bernstein raised EQT from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $27.00 to $34.00 in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company lowered EQT from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $48.00 to $37.00 in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, EQT has an average rating of “Hold” and a consensus target price of $44.56.

EQT Stock Down 2.3 %

Shares of EQT opened at $40.09 on Monday. EQT has a 52-week low of $30.84 and a 52-week high of $45.23. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $36.68 and a two-hundred day simple moving average of $37.87. The company has a market capitalization of $17.70 billion, a PE ratio of 29.05 and a beta of 1.12.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.58 billion. EQT had a return on equity of 4.57% and a net margin of 10.96%. The business’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.70 earnings per share.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Tuesday, May 7th. EQT’s dividend payout ratio is currently 45.65%.

Institutional Trading of EQT

Several hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp increased its holdings in EQT by 3.7% during the 3rd quarter. Fifth Third Bancorp now owns 7,363 shares of the oil and gas producer’s stock worth $299,000 after purchasing an additional 264 shares during the period. Allworth Financial LP grew its position in shares of EQT by 26.9% during the third quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock worth $54,000 after buying an additional 282 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of EQT by 0.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,672 shares of the oil and gas producer’s stock worth $1,285,000 after buying an additional 294 shares during the period. Huntington National Bank raised its holdings in EQT by 20.0% in the third quarter. Huntington National Bank now owns 1,792 shares of the oil and gas producer’s stock valued at $73,000 after acquiring an additional 299 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its stake in EQT by 13.0% in the third quarter. UniSuper Management Pty Ltd now owns 2,600 shares of the oil and gas producer’s stock worth $106,000 after acquiring an additional 300 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Company Profile

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.