EQT Co. Forecasted to Earn Q3 2024 Earnings of $0.01 Per Share (NYSE:EQT)

EQT Co. (NYSE:EQT) – Zacks Research issued their Q3 2024 EPS estimates for EQT in a report issued on Tuesday, June 25th. Zacks Research analyst A. Kanoria expects that the oil and gas producer will post earnings per share of $0.01 for the quarter. The consensus estimate for EQT’s current full-year earnings is $1.05 per share. Zacks Research also issued estimates for EQT’s FY2024 earnings at $0.94 EPS and Q2 2025 earnings at $0.82 EPS.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. EQT’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same period last year, the firm earned $1.70 earnings per share.

A number of other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Wednesday, May 29th. TD Cowen assumed coverage on shares of EQT in a research note on Friday, April 19th. They set a “hold” rating and a $43.00 price objective on the stock. Sanford C. Bernstein upgraded shares of EQT from an “underperform” rating to a “market perform” rating and raised their price target for the company from $27.00 to $34.00 in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price target on shares of EQT in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $45.24.

EQT Trading Down 0.8 %

Shares of EQT stock opened at $36.98 on Thursday. The company has a market capitalization of $16.33 billion, a price-to-earnings ratio of 26.80 and a beta of 1.06. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. EQT has a 12-month low of $32.07 and a 12-month high of $45.23. The firm’s 50-day moving average price is $39.87 and its two-hundred day moving average price is $37.63.

Institutional Trading of EQT

Several hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of EQT by 22.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after acquiring an additional 11,993,729 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of EQT by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after acquiring an additional 3,942,802 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of EQT by 3.2% in the 4th 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 increased its stake in shares of 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 acquiring an additional 4,339,407 shares in the last quarter. Finally, Capital World Investors increased its stake in shares of EQT by 1.5% in the 4th quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock valued at $673,678,000 after acquiring an additional 265,297 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Insider Buying and Selling

In other EQT news, insider Lesley Evancho sold 46,884 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 160,884 shares in the company, valued at approximately $6,642,900.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other EQT news, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 456,837 shares in the company, valued at approximately $18,602,402.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lesley Evancho sold 46,884 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was 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 disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 8th were given a dividend of $0.1575 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.70%. EQT’s dividend payout ratio is presently 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.