FY2024 Earnings Estimate for EQT Co. (NYSE:EQT) Issued By Capital One Financial

EQT Co. (NYSE:EQT) – Equities research analysts at Capital One Financial raised their FY2024 earnings per share (EPS) estimates for shares of EQT in a report released 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 previous forecast of $0.56. The consensus estimate for EQT’s current full-year earnings is $1.01 per share.

EQT has been the subject of several other reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $37.00 price objective (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Stephens lifted their price objective on EQT from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. Mizuho upped their price objective on shares of EQT from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday. Wells Fargo & Company cut shares of EQT from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $48.00 to $37.00 in a research report on Wednesday, April 17th. Finally, StockNews.com raised shares of EQT to a “sell” rating in a research report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.25.

EQT Price Performance

Shares of NYSE:EQT opened at $40.61 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.99. EQT has a 12 month low of $30.84 and a 12 month high of $45.23. The firm has a market capitalization of $17.93 billion, a price-to-earnings ratio of 29.43 and a beta of 1.12. The business’s 50 day simple moving average is $36.43 and its 200-day simple moving average is $37.91.

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

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 8th will be paid a dividend of $0.1575 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.55%. EQT’s dividend payout ratio (DPR) is 45.65%.

Institutional Investors Weigh In On EQT

Several institutional investors and hedge funds have recently bought and sold shares of the business. KG&L Capital Management LLC acquired a new stake in shares of EQT in the first quarter valued at approximately $270,000. Bank of New York Mellon Corp increased its stake in shares of EQT by 27.9% in the first 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 purchasing an additional 4,339,407 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of EQT by 33.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,403 shares of the oil and gas producer’s stock valued at $3,388,000 after purchasing an additional 22,681 shares during the period. Whalen Wealth Management Inc. acquired a new stake in shares of EQT in the first quarter valued at approximately $453,000. Finally, Simplicity Wealth LLC acquired a new stake in shares of EQT in the first quarter valued at approximately $5,091,000. Institutional investors and hedge funds 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.