Capital One Financial Research Analysts Lift Earnings Estimates for EQT Co. (NYSE:EQT)

EQT Co. (NYSE:EQT) – Analysts at Capital One Financial upped their FY2024 earnings per share (EPS) estimates for shares of EQT in a research report issued to clients and investors on Wednesday, April 24th. Capital One Financial analyst B. Velie now expects that the oil and gas producer will post earnings per share of $0.76 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 (NYSE:EQT) last posted its 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 the consensus estimate of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. The firm’s revenue was down 28.8% compared to the same quarter last year. During the same period last year, the company earned $1.70 EPS.

A number of other equities analysts have also commented on EQT. Jefferies Financial Group lifted their price objective on EQT from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Morgan Stanley boosted their target price on shares of EQT from $37.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Truist Financial cut 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. Scotiabank raised EQT from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $40.00 to $52.00 in a research note on Thursday, April 11th. Finally, 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 note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $44.56.

EQT Stock Performance

NYSE EQT opened at $40.09 on Monday. The company has a market capitalization of $17.70 billion, a price-to-earnings ratio of 29.05 and a beta of 1.12. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. EQT has a twelve month low of $30.84 and a twelve month high of $45.23. The stock has a fifty day simple moving average of $36.68 and a 200 day simple moving average of $37.87.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Tuesday, May 7th. EQT’s payout ratio is currently 45.65%.

Institutional Trading of EQT

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Compound Global Advisors LLC grew its position in shares of EQT by 130.2% during 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 purchasing an additional 231,651 shares in the last quarter. Jennison Associates LLC lifted its position in shares of EQT by 50.5% in the fourth quarter. Jennison Associates LLC now owns 231,335 shares of the oil and gas producer’s stock worth $8,943,000 after buying an additional 77,663 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in 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 buying an additional 118,482 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in EQT by 14.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 511,988 shares of the oil and gas producer’s stock valued at $19,793,000 after buying an additional 63,190 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in EQT by 8.6% in 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 acquiring an additional 3,539,661 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

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.