Q1 2024 EPS Estimates for EQT Co. Increased by Analyst (NYSE:EQT)

EQT Co. (NYSE:EQT) – Equities researchers at Capital One Financial raised their Q1 2024 EPS estimates for shares of EQT in a research note issued on Thursday, April 11th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings per share of $0.61 for the quarter, up from their prior estimate of $0.43. The consensus estimate for EQT’s current full-year earnings is $1.53 per share. Capital One Financial also issued estimates for EQT’s Q4 2024 earnings at ($0.12) EPS, FY2024 earnings at $0.56 EPS and FY2025 earnings at $3.32 EPS.

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

Several other analysts have also issued reports on EQT. Sanford C. Bernstein upgraded shares of EQT from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $27.00 to $34.00 in a research report on Wednesday, April 10th. Scotiabank upgraded shares of EQT from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $40.00 to $52.00 in a research report on Thursday. The Goldman Sachs Group decreased their price target on shares of EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $37.00 price target (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Finally, Truist Financial decreased their price target on shares of EQT from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and an average target price of $44.13.

EQT Stock Performance

NYSE:EQT opened at $37.25 on Monday. EQT has a 1 year low of $30.84 and a 1 year high of $45.23. The firm’s fifty day simple moving average is $35.73 and its 200 day simple moving average is $38.17. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $16.41 billion, a PE ratio of 8.76 and a beta of 1.12.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Compound Global Advisors LLC boosted its holdings in shares of EQT by 130.2% in the 4th quarter. Compound Global Advisors LLC now owns 409,545 shares of the oil and gas producer’s stock worth $15,833,000 after acquiring an additional 231,651 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in EQT by 212.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,346 shares of the oil and gas producer’s stock worth $6,740,000 after buying an additional 118,482 shares in the last quarter. Vanguard Group Inc. lifted its holdings in EQT by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock worth $1,822,027,000 after buying an additional 3,539,661 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in EQT by 6.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer’s stock worth $731,979,000 after buying an additional 1,098,211 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in EQT by 5.4% during the 3rd quarter. Principal Financial Group Inc. now owns 437,630 shares of the oil and gas producer’s stock worth $17,759,000 after buying an additional 22,560 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, February 16th. EQT’s payout ratio is currently 14.82%.

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.