Capital One Financial Weighs in on EQT Co.’s Q2 2024 Earnings (NYSE:EQT)

EQT Co. (NYSE:EQT) – Equities research analysts at Capital One Financial lowered their Q2 2024 EPS estimates for EQT in a report released on Thursday, April 11th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will earn $0.05 per share for the quarter, down from their previous forecast of $0.10. The consensus estimate for EQT’s current full-year earnings is $2.30 per share. Capital One Financial also issued estimates for EQT’s Q3 2024 earnings at $0.01 EPS.

EQT has been the subject of a number of other research reports. The Goldman Sachs Group dropped their price target on shares of EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Mizuho restated a “neutral” rating and set a $39.00 price target on shares of EQT in a research report on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price target on shares of EQT in a research note on Tuesday, March 5th. Scotiabank raised EQT from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $40.00 to $52.00 in a report on Thursday. Finally, Jefferies Financial Group raised their price objective on shares of EQT from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, EQT currently has a consensus rating of “Moderate Buy” and an average target price of $44.13.

EQT Stock Performance

Shares of NYSE:EQT opened at $37.49 on Friday. The business has a 50-day moving average of $35.68 and a two-hundred day moving average of $38.19. The firm has a market capitalization of $16.51 billion, a PE ratio of 8.82 and a beta of 1.12. 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 0.37, a current ratio of 0.99 and a quick ratio of 0.99.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. During the same period last year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 20th were issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Friday, February 16th. EQT’s dividend payout ratio is currently 14.82%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Private Wealth Management Group LLC bought a new position in shares of EQT in the 4th quarter valued at $30,000. Laurel Wealth Advisors LLC bought a new stake in shares of EQT in the 2nd quarter worth $33,000. Tyler Stone Wealth Management purchased a new position in shares of EQT in the 2nd quarter worth about $40,000. Clearstead Advisors LLC purchased a new stake in EQT in the 3rd quarter worth about $41,000. Finally, BKM Wealth Management LLC bought a new stake in shares of EQT during the 4th quarter valued at $40,000. Institutional investors own 90.81% of the company’s stock.

About EQT

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.