Q3 2024 Earnings Forecast for EQT Co. Issued By Capital One Financial (NYSE:EQT)

EQT Co. (NYSE:EQT) – Analysts at Capital One Financial lowered their Q3 2024 earnings per share (EPS) estimates for shares of EQT in a note issued to investors on Tuesday, September 17th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will earn $0.11 per share for the quarter, down from their previous estimate of $0.28. The consensus estimate for EQT’s current full-year earnings is $1.44 per share. Capital One Financial also issued estimates for EQT’s Q4 2024 earnings at $0.50 EPS, Q1 2025 earnings at $0.77 EPS, Q2 2025 earnings at $0.70 EPS, Q3 2025 earnings at $0.76 EPS, Q4 2025 earnings at $0.76 EPS, FY2025 earnings at $2.99 EPS and FY2026 earnings at $3.85 EPS.

EQT has been the subject of several other research reports. StockNews.com raised EQT to a “sell” rating in a report on Friday, July 26th. Jefferies Financial Group boosted their price target on shares of EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Scotiabank raised their price objective on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. decreased their target price on shares of EQT from $42.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Finally, Piper Sandler lowered shares of EQT from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $43.00 to $32.00 in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $43.28.

EQT Stock Up 0.3 %

EQT stock opened at $34.83 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average of $33.28 and a two-hundred day moving average of $36.44. EQT has a 12 month low of $30.02 and a 12 month high of $45.23. The company has a market cap of $15.38 billion, a price-to-earnings ratio of 25.24 and a beta of 1.06.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) earnings per share.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Wednesday, August 7th. EQT’s payout ratio is 45.65%.

Hedge Funds Weigh In On EQT

Institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in shares of EQT in the second quarter valued at approximately $1,260,000. Strategic Investment Solutions Inc. IL purchased a new position in EQT in the 2nd quarter valued at approximately $67,000. Clearbridge Investments LLC boosted its position in EQT by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock valued at $335,952,000 after buying an additional 253,186 shares during the period. Cetera Investment Advisers grew its stake in shares of EQT by 5.8% in the second quarter. Cetera Investment Advisers now owns 64,870 shares of the oil and gas producer’s stock worth $2,399,000 after acquiring an additional 3,536 shares in the last quarter. Finally, Truist Financial Corp increased its position in shares of EQT by 18.0% during the second quarter. Truist Financial Corp now owns 21,399 shares of the oil and gas producer’s stock worth $791,000 after acquiring an additional 3,261 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

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.