FY2024 EPS Estimates for EQT Raised by Capital One Financial

EQT Co. (NYSE:EQT) – Capital One Financial lifted their FY2024 earnings estimates for EQT in a report issued on Wednesday, January 8th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings per share of $1.20 for the year, up from their prior forecast of $1.19. The consensus estimate for EQT’s current full-year earnings is $1.37 per share. Capital One Financial also issued estimates for EQT’s Q4 2024 earnings at $0.34 EPS, FY2025 earnings at $3.19 EPS and FY2026 earnings at $4.83 EPS.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. EQT’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share.

A number of other brokerages have also recently commented on EQT. Royal Bank of Canada restated a “sector perform” rating and set a $49.00 price target on shares of EQT in a research note on Monday, January 6th. BMO Capital Markets lifted their price target on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Bank of America started coverage on EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective on the stock. Jefferies Financial Group upped their price target on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $48.00 to $57.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and a consensus target price of $47.83.

EQT Price Performance

EQT stock opened at $48.99 on Monday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The business’s 50 day simple moving average is $44.56 and its 200 day simple moving average is $38.27. EQT has a 12 month low of $30.02 and a 12 month high of $50.03. The company has a market cap of $29.23 billion, a price-to-earnings ratio of 58.32 and a beta of 1.12.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EQT. Victory Capital Management Inc. boosted its stake in shares of EQT by 26.4% during the 2nd quarter. Victory Capital Management Inc. now owns 233,196 shares of the oil and gas producer’s stock worth $8,624,000 after acquiring an additional 48,741 shares during the last quarter. Choreo LLC purchased a new stake in EQT in the second quarter worth about $658,000. Daiwa Securities Group Inc. lifted its position in shares of EQT by 12.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 51,407 shares of the oil and gas producer’s stock valued at $1,901,000 after buying an additional 5,529 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of EQT by 11.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 26,653 shares of the oil and gas producer’s stock valued at $989,000 after acquiring an additional 2,710 shares during the period. Finally, Thoroughbred Financial Services LLC purchased a new stake in EQT in the 2nd quarter worth approximately $234,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.63% 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.