Brokers Offer Predictions for EQT Co.’s Q2 2024 Earnings (NYSE:EQT)

EQT Co. (NYSE:EQT) – Analysts at Capital One Financial dropped their Q2 2024 earnings per share estimates for EQT in a report released on Tuesday, April 30th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings per share of $0.03 for the quarter, down from their prior estimate of $0.05. The consensus estimate for EQT’s current full-year earnings is $1.12 per share. Capital One Financial also issued estimates for EQT’s FY2025 earnings at $3.11 EPS.

A number of other equities research analysts also recently weighed in on EQT. TD Cowen assumed coverage on EQT in a report on Friday, April 19th. They set a “hold” rating and a $43.00 target price for the company. Morgan Stanley raised their price target on EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Jefferies Financial Group raised their price target on EQT from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Stephens raised their price target on EQT from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $37.00 price target (down previously from $39.00) on shares of EQT in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $44.56.

EQT Stock Up 2.0 %

EQT opened at $40.27 on Thursday. EQT has a fifty-two week low of $30.84 and a fifty-two week high of $45.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $17.78 billion, a P/E ratio of 29.18 and a beta of 1.09. The stock has a fifty day moving average of $36.75 and a 200-day moving average of $37.88.

EQT (NYSE:EQT) last posted 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 during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the firm earned $1.70 earnings per share. The company’s revenue was down 28.8% on a year-over-year basis.

Hedge Funds Weigh In On EQT

A number of institutional investors and hedge funds have recently modified their holdings of EQT. Private Wealth Management Group LLC bought a new stake in EQT in the 4th quarter valued at about $30,000. BKM Wealth Management LLC acquired a new stake in EQT in the fourth quarter valued at approximately $40,000. Principal Securities Inc. bought a new stake in shares of EQT during the fourth quarter valued at approximately $51,000. Allworth Financial LP raised its position in shares of EQT by 26.9% during the third quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock worth $54,000 after purchasing an additional 282 shares during the period. Finally, First Command Advisory Services Inc. bought a new position in shares of EQT in the 3rd quarter worth $54,000. 90.81% of the stock is currently owned by institutional investors.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be issued a dividend of $0.1575 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.56%. EQT’s payout ratio is currently 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.