Q3 2024 EPS Estimates for EQT Co. Lifted by Analyst (NYSE:EQT)

EQT Co. (NYSE:EQT) – Research analysts at Capital One Financial lifted their Q3 2024 earnings estimates for shares of EQT in a note issued to investors on Tuesday, April 30th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings of $0.06 per share for the quarter, up from their prior estimate of $0.01. The consensus estimate for EQT’s current full-year earnings is $1.14 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.

A number of other brokerages have also weighed in on EQT. Piper Sandler reaffirmed an “overweight” rating and issued a $46.00 target price (up from $41.00) on shares of EQT in a research note on Tuesday, April 30th. StockNews.com raised shares of EQT to a “sell” rating in a research report on Tuesday, March 12th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $37.00 price target (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Morgan Stanley boosted their price target on shares of EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Finally, Scotiabank raised shares of EQT from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $40.00 to $52.00 in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.56.

EQT Price Performance

Shares of NYSE EQT opened at $40.27 on Friday. The firm has a market cap of $17.78 billion, a PE ratio of 29.18 and a beta of 1.09. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. EQT has a 1-year low of $30.84 and a 1-year high of $45.23. The company has a fifty day moving average price of $36.82 and a 200 day moving average price of $37.81.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.17. The company 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 firm’s revenue was down 28.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.70 EPS.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EQT. Wellington Management Group LLP grew its stake in EQT by 61.9% in the 3rd quarter. Wellington Management Group LLP now owns 19,687,594 shares of the oil and gas producer’s stock valued at $798,923,000 after buying an additional 7,526,875 shares during the last quarter. Bank of New York Mellon Corp grew its stake in EQT by 27.9% in 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 buying an additional 4,339,407 shares during the last quarter. Vanguard Group Inc. grew its stake in EQT by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock valued at $1,822,027,000 after buying an additional 3,539,661 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake 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. Finally, Boston Partners grew its stake in EQT by 4,680.4% in the 4th quarter. Boston Partners now owns 2,868,030 shares of the oil and gas producer’s stock valued at $110,854,000 after buying an additional 2,808,034 shares during the last quarter. Institutional investors and hedge funds 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. Investors of record on Wednesday, May 8th will be paid a $0.1575 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.56%. EQT’s dividend payout ratio (DPR) is currently 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.