Q2 2024 Earnings Estimate for EQT Co. (NYSE:EQT) Issued By Zacks Research

EQT Co. (NYSE:EQT) – Investment analysts at Zacks Research dropped their Q2 2024 earnings estimates for shares of EQT in a research note issued to investors on Tuesday, June 25th. Zacks Research analyst A. Kanoria now anticipates that the oil and gas producer will post earnings per share of ($0.08) for the quarter, down from their previous forecast of ($0.07). The consensus estimate for EQT’s current full-year earnings is $1.03 per share. Zacks Research also issued estimates for EQT’s Q4 2024 earnings at $0.18 EPS, Q1 2025 earnings at $1.22 EPS, Q4 2025 earnings at $0.52 EPS, FY2025 earnings at $3.62 EPS and Q1 2026 earnings at $0.82 EPS.

A number of other brokerages have also commented on EQT. The Goldman Sachs Group dropped their target price on EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Piper Sandler reissued an “overweight” rating and issued a $46.00 price target (up from $41.00) on shares of EQT in a report on Tuesday, April 30th. StockNews.com upgraded EQT to a “sell” rating in a research report on Wednesday, May 29th. BMO Capital Markets lifted their target price on shares of EQT from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, May 13th. Finally, Scotiabank increased their price target on shares of EQT from $52.00 to $54.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $45.24.

EQT Stock Down 1.3 %

EQT stock opened at $37.28 on Friday. EQT has a fifty-two week low of $32.07 and a fifty-two week high of $45.23. The company has a market cap of $16.46 billion, a PE ratio of 27.01 and a beta of 1.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50-day simple moving average is $39.86 and its two-hundred day simple moving average is $37.63.

EQT (NYSE:EQT) last posted 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 business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm posted $1.70 earnings per share. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th were issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Tuesday, May 7th. EQT’s payout ratio is 45.65%.

Insider Activity

In related news, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the transaction, the executive vice president now directly owns 456,837 shares in the company, valued at $18,602,402.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Lesley Evancho sold 46,884 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the transaction, the insider now owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the sale, the executive vice president now owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

Institutional Trading of EQT

Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in EQT by 22.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock worth $2,405,007,000 after acquiring an additional 11,993,729 shares during the period. Vanguard Group Inc. grew its holdings in shares of EQT by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after purchasing an additional 3,942,802 shares during the period. Wellington Management Group LLP increased its position in shares of EQT by 3.2% during the 4th quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock worth $785,580,000 after purchasing an additional 632,625 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in 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 buying an additional 4,339,407 shares during the period. Finally, Capital World Investors lifted its position in EQT by 1.5% in the fourth quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock valued at $673,678,000 after buying an additional 265,297 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.