Zacks Research Has Bullish Outlook for EQT FY2024 Earnings

EQT Co. (NYSE:EQTFree Report) – Analysts at Zacks Research boosted their FY2024 earnings estimates for shares of EQT in a report issued on Thursday, January 16th. Zacks Research analyst R. Department now expects that the oil and gas producer will earn $1.35 per share for the year, up from their previous estimate of $1.33. The consensus estimate for EQT’s current full-year earnings is $1.44 per share. Zacks Research also issued estimates for EQT’s Q4 2024 earnings at $0.49 EPS, Q3 2025 earnings at $0.55 EPS, Q4 2025 earnings at $1.20 EPS, Q1 2026 earnings at $1.13 EPS, Q2 2026 earnings at $0.65 EPS and Q3 2026 earnings at $0.81 EPS.

EQT (NYSE:EQTGet Free Report) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. EQT’s revenue for the quarter was up 8.2% on a year-over-year basis.

A number of other brokerages have also recently commented on EQT. Mizuho raised shares of EQT from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $48.00 to $57.00 in a report on Monday, December 16th. UBS Group upped their target price on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Piper Sandler raised their price target on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lifted their target price on EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and a consensus target price of $49.89.

Read Our Latest Research Report on EQT

EQT Stock Down 1.6 %

Shares of NYSE EQT opened at $52.93 on Monday. The stock has a market cap of $31.58 billion, a PE ratio of 63.02 and a beta of 1.12. EQT has a 52-week low of $30.02 and a 52-week high of $53.98. The business has a 50-day moving average price of $45.83 and a 200 day moving average price of $38.79. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

Insider Buying and Selling

In other news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.63% of the stock is owned by insiders.

Hedge Funds Weigh In On EQT

Several hedge funds have recently bought and sold shares of the company. Veracity Capital LLC acquired a new stake in EQT in the fourth quarter valued at $823,000. Bill Few Associates Inc. purchased a new stake in shares of EQT in the 4th quarter worth about $247,000. Janney Montgomery Scott LLC grew its stake in EQT by 8.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 234,183 shares of the oil and gas producer’s stock valued at $10,798,000 after acquiring an additional 19,025 shares during the last quarter. Daymark Wealth Partners LLC increased its holdings in EQT by 12.4% during the 4th quarter. Daymark Wealth Partners LLC now owns 31,072 shares of the oil and gas producer’s stock valued at $1,433,000 after acquiring an additional 3,417 shares in the last quarter. Finally, Viking Fund Management LLC raised its position in EQT by 120.0% during the fourth quarter. Viking Fund Management LLC now owns 110,000 shares of the oil and gas producer’s stock worth $5,072,000 after acquiring an additional 60,000 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Company Profile

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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.

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Earnings History and Estimates for EQT (NYSE:EQT)

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