Brokers Issue Forecasts for EQT Co.’s FY2024 Earnings (NYSE:EQT)

EQT Co. (NYSE:EQT) – Capital One Financial upped their FY2024 earnings per share (EPS) estimates for EQT in a note issued to investors on Wednesday, April 24th. Capital One Financial analyst B. Velie now expects that the oil and gas producer will post earnings of $0.76 per share 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.

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

EQT has been the subject of a number of other reports. TD Cowen assumed coverage on EQT in a research report on Friday, April 19th. They set a “hold” rating and a $43.00 price objective for the company. Scotiabank upgraded shares of EQT from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $40.00 to $52.00 in a research report on Thursday, April 11th. Morgan Stanley increased their target price on shares of EQT from $37.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Truist Financial decreased their price objective on EQT from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 5th. Finally, The Goldman Sachs Group lowered their price target on EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, EQT presently has an average rating of “Hold” and an average price target of $44.25.

EQT Trading Up 1.1 %

EQT opened at $41.05 on Monday. 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 stock has a market capitalization of $18.13 billion, a price-to-earnings ratio of 29.75 and a beta of 1.12. The business has a fifty day moving average price of $36.55 and a 200 day moving average price of $37.89. EQT has a 12 month low of $30.84 and a 12 month high of $45.23.

Institutional Trading of EQT

A number of institutional investors have recently added to or reduced their stakes in the stock. Private Wealth Management Group LLC acquired a new stake in EQT in the fourth quarter valued at $30,000. BKM Wealth Management LLC purchased a new position in EQT during the 4th quarter valued at about $40,000. Principal Securities Inc. acquired a new position in EQT during the fourth quarter worth about $51,000. Allworth Financial LP lifted its holdings in shares of EQT by 26.9% in the third quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock valued at $54,000 after purchasing an additional 282 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in shares of EQT in the third quarter valued at approximately $54,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be issued a $0.1575 dividend. 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 1.53%. EQT’s dividend payout ratio is presently 45.65%.

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.