Zacks Research Issues Optimistic Outlook for EQT Earnings

EQT Corporation (NYSE:EQT) – Zacks Research boosted their Q3 2028 EPS estimates for shares of EQT in a research note issued to investors on Monday, September 28th. Zacks Research analyst Team now forecasts that the oil and gas producer will earn $1.10 per share for the quarter, up from their previous estimate of $1.04. Zacks Research has a “Hold” rating on the stock. The consensus estimate for EQT’s current full-year earnings is $3.90 per share.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). EQT had a net margin of 28.44% and a return on equity of 9.31%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The company’s revenue was down 29.2% on a year-over-year basis.

Several other brokerages have also weighed in on EQT. Morgan Stanley dropped their target price on EQT from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 19th. Citigroup lifted their price target on EQT from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. Truist Financial lowered their price target on EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Jefferies Financial Group dropped their price objective on EQT from $75.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wall Street Zen lowered shares of EQT from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, EQT has an average rating of “Moderate Buy” and an average price target of $68.09.

EQT Price Performance

Shares of NYSE:EQT opened at $50.20 on Friday. The firm has a market cap of $31.40 billion, a price-to-earnings ratio of 11.65 and a beta of 0.66. EQT has a 1 year low of $47.94 and a 1 year high of $68.24. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $52.87 and a 200 day simple moving average of $55.06.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th were paid a $0.1650 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, August 5th. EQT’s dividend payout ratio (DPR) is presently 15.31%.

Insiders Place Their Bets

In related news, CEO Toby Rice sold 175,328 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the sale, the chief executive officer directly owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. The trade was a 7.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On EQT

A number of institutional investors have recently modified their holdings of the company. Versant Capital Management Inc lifted its stake in shares of EQT by 46.4% in the third quarter. Versant Capital Management Inc now owns 3,673 shares of the oil and gas producer’s stock worth $178,000 after buying an additional 1,164 shares during the last quarter. First Financial Bank Trust Division grew its stake in EQT by 4.1% in the 3rd quarter. First Financial Bank Trust Division now owns 65,263 shares of the oil and gas producer’s stock valued at $3,169,000 after buying an additional 2,573 shares during the last quarter. Confluence Investment Management LLC grew its stake in EQT by 49.4% in the 3rd quarter. Confluence Investment Management LLC now owns 33,973 shares of the oil and gas producer’s stock valued at $1,650,000 after buying an additional 11,230 shares during the last quarter. QRG Capital Management Inc. raised its holdings in EQT by 156.2% in the 2nd quarter. QRG Capital Management Inc. now owns 93,774 shares of the oil and gas producer’s stock worth $4,986,000 after acquiring an additional 57,179 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in EQT by 24.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,194 shares of the oil and gas producer’s stock worth $276,000 after acquiring an additional 1,020 shares during the period. Institutional investors own 90.81% of the company’s stock.

EQT Company Profile

EQT Corporation is a natural gas producer headquartered in Pittsburgh, Pennsylvania. The company explores for, develops, and produces natural gas, natural gas liquids, and crude oil, with its operations concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations.

In addition to its upstream production activities, EQT has interests in the midstream infrastructure used to gather, process, transport, and store natural gas. These assets support the movement of production from well sites to regional and interstate markets.