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

EQT Co. (NYSE:EQT) – Capital One Financial reduced their Q2 2024 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 post earnings of $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 $1.12 per share. Capital One Financial also issued estimates for EQT’s FY2025 earnings at $3.11 EPS.

EQT (NYSE:EQT) last released its quarterly earnings results 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. EQT had a net margin of 10.96% and a return on equity of 4.57%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the firm earned $1.70 EPS. The company’s revenue for the quarter was down 28.8% on a year-over-year basis.

EQT has been the subject of several other research reports. Mizuho increased their price target on shares of EQT from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. TD Cowen assumed coverage on shares of EQT in a report on Friday, April 19th. They issued a “hold” rating and a $43.00 price objective on the stock. Morgan Stanley raised their price objective on shares of EQT from $37.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Truist Financial cut their price target on EQT from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Finally, Jefferies Financial Group increased their target price on shares of EQT from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $44.56.

EQT Stock Up 2.0 %

Shares of NYSE EQT opened at $40.27 on Thursday. EQT has a 12-month low of $30.84 and a 12-month high of $45.23. The stock has a market cap of $17.78 billion, a PE ratio of 29.18 and a beta of 1.09. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $36.75 and a 200 day moving average of $37.88.

Institutional Trading of EQT

Several large investors have recently bought and sold shares of the company. Private Wealth Management Group LLC purchased a new stake in shares of EQT in the fourth quarter valued at $30,000. BKM Wealth Management LLC purchased a new stake in shares of EQT in the fourth quarter valued at $40,000. Principal Securities Inc. purchased a new stake in shares of EQT in the fourth quarter valued at $51,000. Allworth Financial LP lifted its position in shares of EQT by 26.9% in the third quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock valued at $54,000 after acquiring an additional 282 shares in the last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in shares of EQT in the third quarter valued at $54,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s dividend payout ratio (DPR) 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.