Q1 2024 EPS Estimates for EQT Co. Reduced by Capital One Financial (NYSE:EQT)

EQT Co. (NYSE:EQT) – Equities researchers at Capital One Financial decreased their Q1 2024 earnings per share (EPS) estimates for EQT in a report released on Wednesday, April 3rd. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will earn $0.43 per share for the quarter, down from their previous estimate of $0.64. The consensus estimate for EQT’s current full-year earnings is $2.35 per share. Capital One Financial also issued estimates for EQT’s Q2 2024 earnings at $0.10 EPS, Q3 2024 earnings at $0.05 EPS, Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at $0.51 EPS and FY2025 earnings at $3.46 EPS.

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

Several other research firms also recently weighed in on EQT. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $37.00 price objective (down from $39.00) on shares of EQT in a report on Wednesday, March 20th. Mizuho reaffirmed a “neutral” rating and set a $39.00 price target on shares of EQT in a report on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price target on shares of EQT in a report on Tuesday, March 5th. The Goldman Sachs Group decreased their price target on EQT from $48.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Finally, StockNews.com raised EQT to a “sell” rating in a report on Tuesday, March 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, EQT presently has an average rating of “Hold” and an average price target of $43.29.

EQT Price Performance

EQT stock opened at $37.94 on Monday. The company has a market capitalization of $16.71 billion, a P/E ratio of 8.93 and a beta of 1.12. EQT has a twelve month low of $30.84 and a twelve month high of $45.23. The business has a 50 day simple moving average of $35.59 and a 200-day simple moving average of $38.20. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, February 16th. EQT’s dividend payout ratio is currently 14.82%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Compound Global Advisors LLC increased its position in shares of EQT by 130.2% in the fourth quarter. Compound Global Advisors LLC now owns 409,545 shares of the oil and gas producer’s stock valued at $15,833,000 after buying an additional 231,651 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of EQT by 212.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 174,346 shares of the oil and gas producer’s stock valued at $6,740,000 after acquiring an additional 118,482 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of EQT by 8.6% during the third 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 acquiring an additional 3,539,661 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of EQT by 6.5% during the third quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer’s stock valued at $731,979,000 after acquiring an additional 1,098,211 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of EQT by 5.4% during the third quarter. Principal Financial Group Inc. now owns 437,630 shares of the oil and gas producer’s stock valued at $17,759,000 after acquiring an additional 22,560 shares during the last quarter. Hedge funds and other 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.