EQT Co. (NYSE:EQT – Get Rating) – Capital One Financial upped their FY2022 EPS estimates for EQT in a research note issued on Thursday, July 28th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings per share of $2.96 for the year, up from their previous estimate of $2.79. The consensus estimate for EQT’s current full-year earnings is $3.62 per share.
EQT has been the topic of several other reports. Tudor, Pickering, Holt & Co. raised shares of EQT from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Monday, April 11th. Truist Financial increased their price target on shares of EQT from $35.00 to $60.00 in a research note on Thursday, April 21st. Scotiabank reissued a “sector outperform” rating on shares of EQT in a research note on Monday, July 25th. Credit Suisse Group increased their price target on shares of EQT from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, TD Securities raised their price objective on shares of EQT from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 29th. One equities research analyst has rated the stock with a sell rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.73.
EQT Stock Performance
EQT (NYSE:EQT – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The oil and gas producer reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.32. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. The business’s quarterly revenue was up 61.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 EPS.
Hedge Funds Weigh In On EQT
Several institutional investors and hedge funds have recently made changes to their positions in EQT. Kestra Advisory Services LLC boosted its stake in EQT by 12.9% in the 4th quarter. Kestra Advisory Services LLC now owns 12,917 shares of the oil and gas producer’s stock worth $282,000 after purchasing an additional 1,476 shares during the period. Janney Montgomery Scott LLC boosted its stake in EQT by 121.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 50,234 shares of the oil and gas producer’s stock worth $1,096,000 after purchasing an additional 27,571 shares during the period. State of Michigan Retirement System boosted its stake in EQT by 1.2% in the 4th quarter. State of Michigan Retirement System now owns 76,661 shares of the oil and gas producer’s stock worth $1,672,000 after purchasing an additional 900 shares during the period. Bessemer Group Inc. boosted its stake in EQT by 1,087.3% in the 4th quarter. Bessemer Group Inc. now owns 6,934 shares of the oil and gas producer’s stock worth $151,000 after purchasing an additional 6,350 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new position in EQT in the 4th quarter worth $200,000. Institutional investors and hedge funds own 90.34% of the company’s stock.
EQT Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Tuesday, August 9th will be issued a $0.15 dividend. This is a positive change from EQT’s previous quarterly dividend of $0.13. The ex-dividend date is Monday, August 8th. This represents a $0.60 annualized dividend and a dividend yield of 1.36%. EQT’s payout ratio is -6.05%.
EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play.
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