Brokers Issue Forecasts for EQT Co.'s Q3 2024 Earnings (NYSE:EQT)

EQT Co. (NYSE:EQT - Free Report) - Investment analysts at Capital One Financial lifted their Q3 2024 earnings per share estimates for shares of EQT in a report issued on Tuesday, April 30th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings of $0.06 per share for the quarter, up from their prior estimate of $0.01. The consensus estimate for EQT's current full-year earnings is $1.12 per share. Capital One Financial also issued estimates for EQT's Q4 2024 earnings at $0.07 EPS and FY2024 earnings at $0.97 EPS.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.17. The business had revenue of $1.30 billion during 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.70 EPS.

EQT has been the topic of several other research reports. Mizuho upped their price target on shares of EQT from $40.00 to $43.00 and gave the company a "neutral" rating in a report on Friday, April 26th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $37.00 target price (down previously from $39.00) on shares of EQT in a report on Wednesday, March 20th. Truist Financial reduced their price objective on EQT from $37.00 to $35.00 and set a "hold" rating on the stock in a research report on Friday, April 5th. The Goldman Sachs Group dropped their price objective on EQT from $48.00 to $43.00 and set a "buy" rating for the company in a research report on Tuesday, April 2nd. Finally, Stephens upped their target price on shares of EQT from $46.00 to $47.00 and gave the company an "equal weight" rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $44.56.

EQT Price Performance

Shares of EQT stock traded up $0.79 on Friday, hitting $40.27. The company's stock had a trading volume of 5,992,967 shares, compared to its average volume of 6,593,218. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average price of $36.75 and a 200-day moving average price of $37.88. EQT has a 52-week low of $30.84 and a 52-week high of $45.23. The company has a market capitalization of $17.78 billion, a P/E ratio of 29.18 and a beta of 1.09.

Institutional Investors Weigh In On EQT

Institutional investors have recently bought and sold shares of the business. Private Wealth Management Group LLC acquired a new position in shares of EQT during the 4th quarter valued at $30,000. BKM Wealth Management LLC acquired a new stake in EQT during the 4th quarter valued at $40,000. Principal Securities Inc. purchased a new stake in EQT during the 4th quarter worth $51,000. Allworth Financial LP boosted its position in EQT by 26.9% in the 3rd quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer's stock valued at $54,000 after buying an additional 282 shares during the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in shares of EQT during the third quarter valued at about $54,000. 90.81% of the stock is currently owned by hedge funds and other 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 given a dividend of $0.1575 per share. 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 1.56%. EQT's dividend payout ratio (DPR) is 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.