EQT Co. (NYSE:EQT – Free Report) – Analysts at Capital One Financial reduced their Q2 2024 earnings estimates for shares of EQT in a research report issued to clients and 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 $1.01 per share. Capital One Financial also issued estimates for EQT’s FY2025 earnings at $3.11 EPS.
EQT (NYSE:EQT – Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS 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 for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business posted $1.70 EPS. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year.
Several other equities research analysts also recently issued reports on the company. TD Cowen initiated coverage on EQT in a report on Friday, April 19th. They issued a “hold” rating and a $43.00 price objective on the stock. Mizuho increased their price target on shares of EQT from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $37.00 price objective (down previously from $39.00) on shares of EQT in a report on Wednesday, March 20th. Piper Sandler reiterated an “overweight” rating and set a $46.00 target price (up from $41.00) on shares of EQT in a report on Tuesday. Finally, StockNews.com raised EQT to a “sell” rating in a research report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $44.56.
EQT Trading Up 2.3 %
NYSE:EQT traded up $0.88 during trading hours on Thursday, reaching $39.54. 3,132,480 shares of the stock were exchanged, compared to its average volume of 6,576,642. EQT has a twelve month low of $30.84 and a twelve month high of $45.23. The business has a 50-day moving average of $36.71 and a two-hundred day moving average of $37.87. The company has a market capitalization of $17.46 billion, a price-to-earnings ratio of 28.41 and a beta of 1.09. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32.
Hedge Funds Weigh In On EQT
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQT. Price T Rowe Associates Inc. MD boosted its holdings in shares of EQT by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,883,676 shares of the oil and gas producer’s stock valued at $2,044,484,000 after buying an additional 3,159,700 shares in the last quarter. Vanguard Group Inc. lifted its position in EQT by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 46,922,862 shares of the oil and gas producer’s stock valued at $1,814,038,000 after acquiring an additional 2,023,222 shares during the last quarter. Wellington Management Group LLP boosted its stake in EQT by 3.2% in the fourth quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock valued at $785,580,000 after acquiring an additional 632,625 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of EQT by 27.9% during the first quarter. Bank of New York Mellon Corp now owns 19,883,694 shares of the oil and gas producer’s stock worth $737,089,000 after purchasing an additional 4,339,407 shares during the last quarter. Finally, Capital World Investors increased its position in shares of EQT by 1.5% during the fourth quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock worth $673,678,000 after purchasing an additional 265,297 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.
EQT Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Tuesday, May 7th. EQT’s dividend payout ratio (DPR) is presently 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.