EQT Co. (NYSE:EQT – Get Rating) – Analysts at Capital One Financial reduced their Q1 2023 earnings per share estimates for EQT in a report released on Wednesday, January 18th. Capital One Financial analyst B. Velie now expects that the oil and gas producer will earn $1.23 per share for the quarter, down from their prior forecast of $1.25. The consensus estimate for EQT’s current full-year earnings is $3.98 per share. Capital One Financial also issued estimates for EQT’s Q2 2023 earnings at $0.81 EPS, Q3 2023 earnings at $0.97 EPS, Q4 2023 earnings at $1.14 EPS, FY2023 earnings at $4.15 EPS and FY2024 earnings at $6.36 EPS.
A number of other analysts also recently weighed in on EQT. Wolfe Research upgraded EQT from a “peer perform” rating to an “outperform” rating and set a $59.00 price objective for the company in a report on Wednesday, December 14th. Mizuho increased their price target on EQT from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, October 24th. Truist Financial decreased their price target on EQT from $73.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 28th. TD Securities decreased their price target on EQT from $62.00 to $61.00 and set a “buy” rating for the company in a report on Friday, October 28th. Finally, Jefferies Financial Group began coverage on EQT in a report on Wednesday, October 19th. They set a “buy” rating and a $57.00 price target for the company. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.41.
EQT Stock Performance
EQT (NYSE:EQT – Get Rating) last posted its quarterly earnings data on Wednesday, October 26th. The oil and gas producer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.74 billion.
Institutional Investors Weigh In On EQT
Several large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. raised its position in shares of EQT by 12.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 31,346 shares of the oil and gas producer’s stock worth $1,079,000 after buying an additional 3,541 shares in the last quarter. Acadian Asset Management LLC bought a new position in EQT during the 1st quarter worth approximately $96,000. Great West Life Assurance Co. Can grew its holdings in shares of EQT by 8.1% in the first quarter. Great West Life Assurance Co. Can now owns 166,448 shares of the oil and gas producer’s stock worth $5,891,000 after purchasing an additional 12,466 shares during the last quarter. Raymond James Trust N.A. purchased a new position in shares of EQT in the first quarter valued at about $539,000. Finally, Blair William & Co. IL purchased a new position in EQT during the 1st quarter valued at about $329,000. Hedge funds and other institutional investors own 97.60% of the company’s stock.
Insider Activity at EQT
In other EQT news, EVP William E. Jordan sold 98,783 shares of EQT stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $41.51, for a total transaction of $4,100,482.33. Following the transaction, the executive vice president now owns 297,787 shares of the company’s stock, valued at approximately $12,361,138.37. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.48% of the stock is owned by insiders.
EQT Corp. is a natural gas production company engaged in the supplying, transmitting, and distribution of natural gas. It has operations in the Marcellus and Utica Shales of the Appalachian Basin. The company was founded in 1888 and is headquartered in Pittsburgh, PA.
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