Analysts Issue Forecasts for EQT Co.'s Q2 2024 Earnings (NYSE:EQT)

EQT Co. (NYSE:EQT - Free Report) - Equities researchers at Capital One Financial reduced their Q2 2024 earnings per share (EPS) estimates for EQT in a note issued to investors on Tuesday, April 30th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will earn $0.03 per share for the quarter, down from their previous estimate of $0.05. The consensus estimate for EQT's current full-year earnings is $1.01 per share. Capital One Financial also issued estimates for EQT's FY2025 earnings at $3.11 EPS.

Several other brokerages have also recently commented on EQT. Sanford C. Bernstein raised shares of EQT from an "underperform" rating to a "market perform" rating and boosted their price objective for the company from $27.00 to $34.00 in a research note on Wednesday, April 10th. Piper Sandler reaffirmed an "overweight" rating and issued a $46.00 price target (up previously from $41.00) on shares of EQT in a report on Tuesday. Morgan Stanley lifted their price objective on EQT from $37.00 to $49.00 and gave the company an "overweight" rating in a research note on Wednesday, April 17th. StockNews.com upgraded EQT to a "sell" rating in a research note on Tuesday, March 12th. Finally, Truist Financial cut their price objective on EQT from $37.00 to $35.00 and set a "hold" rating for the company in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $44.56.

EQT Price Performance

NYSE EQT traded up $0.82 during trading hours on Thursday, hitting $39.48. The company had a trading volume of 5,026,269 shares, compared to its average volume of 6,600,281. The firm has a 50 day simple moving average of $36.75 and a 200 day simple moving average of $37.88. EQT has a 52 week low of $30.84 and a 52 week high of $45.23. The firm has a market capitalization of $17.43 billion, a price-to-earnings ratio of 28.61 and a beta of 1.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. The firm 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 business's revenue was down 28.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.70 earnings per share.

EQT Dividend Announcement

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 given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT's payout ratio is 45.65%.

Hedge Funds Weigh In On EQT

Several hedge funds have recently made changes to their positions in EQT. Blume Capital Management Inc. bought a new position in EQT in the 1st quarter worth $392,000. Daiwa Securities Group Inc. grew its holdings in shares of EQT by 27.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 45,878 shares of the oil and gas producer's stock worth $1,700,000 after acquiring an additional 9,954 shares during the period. Pullen Investment Management LLC bought a new position in shares of EQT in the 1st quarter worth approximately $859,000. Janney Montgomery Scott LLC lifted its stake in shares of EQT by 2.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 118,482 shares of the oil and gas producer's stock valued at $4,392,000 after purchasing an additional 2,594 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of EQT by 21.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,613 shares of the oil and gas producer's stock valued at $3,319,000 after purchasing an additional 16,891 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.