EQT Co. Forecasted to Earn Q3 2024 Earnings of $0.06 Per Share (NYSE:EQT)

EQT Co. (NYSE:EQT) – Capital One Financial increased their Q3 2024 earnings estimates for shares of EQT in a report released on Tuesday, April 30th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings of $0.06 per share for the quarter, up from their previous estimate of $0.01. The consensus estimate for EQT’s current full-year earnings is $1.12 per share. Capital One Financial also issued estimates for EQT’s Q4 2024 earnings at $0.07 EPS and FY2024 earnings at $0.97 EPS.

EQT has been the subject of several other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price target on shares of EQT in a research report on Tuesday, March 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $37.00 target price (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. The Goldman Sachs Group reduced their target price on EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. TD Cowen started coverage on EQT in a research note on Friday, April 19th. They set a “hold” rating and a $43.00 price target for the company. Finally, Sanford C. Bernstein raised EQT from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $27.00 to $34.00 in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $44.56.

EQT Trading Up 2.0 %

NYSE EQT opened at $40.27 on Friday. The company has a market cap of $17.78 billion, a P/E ratio of 29.18 and a beta of 1.09. EQT has a 12 month low of $30.84 and a 12 month high of $45.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.88. The company has a 50-day moving average of $36.75 and a 200-day moving average of $37.88.

EQT (NYSE:EQT) last released its 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. EQT had a return on equity of 4.57% and a net margin of 10.96%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the firm posted $1.70 earnings per share. The business’s quarterly revenue was down 28.8% compared to the same quarter last year.

EQT Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.56%. EQT’s payout ratio is currently 45.65%.

Institutional Investors Weigh In On EQT

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in EQT by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,883,676 shares of the oil and gas producer’s stock valued at $2,044,484,000 after buying an additional 3,159,700 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of EQT by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 46,922,862 shares of the oil and gas producer’s stock worth $1,814,038,000 after acquiring an additional 2,023,222 shares in the last quarter. Wellington Management Group LLP boosted its holdings in EQT by 3.2% in the fourth quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock valued at $785,580,000 after purchasing an additional 632,625 shares during the last quarter. Bank of New York Mellon Corp grew its stake in EQT by 27.9% during the 1st quarter. Bank of New York Mellon Corp now owns 19,883,694 shares of the oil and gas producer’s stock valued at $737,089,000 after purchasing an additional 4,339,407 shares in the last quarter. Finally, Capital World Investors increased its holdings in EQT by 1.5% during the 4th quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock worth $673,678,000 after purchasing an additional 265,297 shares during the last quarter. 90.81% of the stock is 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.