Q3 2024 EPS Estimates for EQT Co. (NYSE:EQT) Lifted by Capital One Financial

EQT Co. (NYSE:EQT) – Capital One Financial increased 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 earn $0.06 per share for the quarter, up from their prior forecast of $0.01. The consensus estimate for EQT’s current full-year earnings is $1.12 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.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the firm earned $1.70 earnings per share. EQT’s revenue for the quarter was down 28.8% on a year-over-year basis.

EQT has been the subject of a number of other reports. Wells Fargo & Company downgraded shares of EQT from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $48.00 to $37.00 in a research report on Wednesday, April 17th. The Goldman Sachs Group decreased their target price on EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. Jefferies Financial Group raised their price objective on shares of EQT from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, April 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $37.00 target price (down from $39.00) on shares of EQT in a research note on Wednesday, March 20th. Finally, Piper Sandler restated an “overweight” rating and set a $46.00 price target (up previously from $41.00) on shares of EQT in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $44.56.

EQT Stock Performance

Shares of EQT opened at $39.48 on Friday. The stock has a 50 day moving average price of $36.75 and a two-hundred day moving average price of $37.88. EQT has a 52 week low of $30.84 and a 52 week high of $45.23. The firm has a market capitalization of $17.43 billion, a P/E ratio of 28.61 and a beta of 1.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88.

Hedge Funds Weigh In On EQT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Wealth Management Group LLC bought a new position in shares of EQT during the 4th quarter valued at about $30,000. BKM Wealth Management LLC purchased a new position in shares of EQT during the fourth quarter worth approximately $40,000. Principal Securities Inc. bought a new stake in shares of EQT in the 4th quarter worth approximately $51,000. Allworth Financial LP boosted its stake in shares of EQT by 26.9% in the 3rd 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. bought a new position in shares of EQT during the third quarter valued at about $54,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s dividend payout ratio is presently 45.65%.

EQT Company Profile

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.