EQT Co. Expected to Earn FY2024 Earnings of $0.76 Per Share (NYSE:EQT)

EQT Co. (NYSE:EQT) – Equities researchers at Capital One Financial raised their FY2024 earnings per share estimates for EQT in a note issued to investors on Wednesday, April 24th. Capital One Financial analyst B. Velie now expects that the oil and gas producer will earn $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 (NYSE:EQT) last posted its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, beating 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 business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the business earned $1.70 EPS. The firm’s revenue for the quarter was down 28.8% on a year-over-year basis.

EQT has been the topic of several other reports. Sanford C. Bernstein raised shares of EQT from an “underperform” rating to a “market perform” rating and increased their price target for the company from $27.00 to $34.00 in a report on Wednesday, April 10th. Wells Fargo & Company cut EQT from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $48.00 to $37.00 in a report on Wednesday, April 17th. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price target on shares of EQT in a research note on Tuesday, March 5th. Truist Financial dropped their target price on EQT from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 5th. Finally, StockNews.com raised shares of EQT to a “sell” rating in a research report on Tuesday, March 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $44.25.

EQT Price Performance

NYSE:EQT opened at $41.05 on Monday. The company has a market cap of $18.13 billion, a P/E ratio of 29.75 and a beta of 1.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s fifty day moving average price is $36.55 and its two-hundred day moving average price is $37.89. EQT has a one year low of $30.84 and a one year high of $45.23.

Institutional Investors Weigh In On EQT

Several institutional investors and hedge funds have recently made changes to their positions in EQT. Horizon Advisory Services Inc. acquired a new stake in shares of EQT during the first quarter worth $231,000. Crescent Grove Advisors LLC acquired a new stake in EQT during the 1st quarter worth about $377,000. KG&L Capital Management LLC acquired a new stake in EQT during the 1st quarter worth about $270,000. Bank of New York Mellon Corp lifted its stake in shares of EQT by 27.9% in the 1st 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of EQT by 33.0% in the 1st 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. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 8th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.53%. EQT’s payout ratio is 45.65%.

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.