Analysts Set Expectations for EQT’s Q3 Earnings (NYSE:EQT)

EQT Co. (NYSE:EQT) – Equities research analysts at Zacks Research increased their Q3 2024 earnings per share (EPS) estimates for EQT in a research report issued to clients and investors on Wednesday, October 23rd. Zacks Research analyst D. Bhowal now forecasts that the oil and gas producer will earn $0.22 per share for the quarter, up from their prior forecast of $0.18. The consensus estimate for EQT’s current full-year earnings is $1.37 per share. Zacks Research also issued estimates for EQT’s Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $1.48 EPS, Q1 2025 earnings at $1.08 EPS and Q1 2026 earnings at $1.24 EPS.

EQT has been the subject of several other reports. BMO Capital Markets increased their price objective on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. Wolfe Research started coverage on EQT in a research note on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price objective on the stock. Mizuho reduced their price objective on EQT from $43.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $45.00 price objective on shares of EQT in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.18.

EQT Trading Up 0.6 %

Shares of EQT stock opened at $36.19 on Thursday. The firm has a market capitalization of $15.98 billion, a price-to-earnings ratio of 26.22 and a beta of 1.06. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $45.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a 50 day moving average of $34.66 and a 200 day moving average of $36.60.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (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 analyst estimates of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The business’s 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.

Hedge Funds Weigh In On EQT

Several hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its holdings in shares of EQT by 33.6% during the third quarter. Louisiana State Employees Retirement System now owns 33,400 shares of the oil and gas producer’s stock worth $1,224,000 after purchasing an additional 8,400 shares during the last quarter. Allworth Financial LP grew its holdings in shares of EQT by 151.3% during the third quarter. Allworth Financial LP now owns 2,093 shares of the oil and gas producer’s stock worth $77,000 after buying an additional 1,260 shares during the last quarter. Cromwell Holdings LLC grew its holdings in shares of EQT by 54.1% during the third quarter. Cromwell Holdings LLC now owns 1,838 shares of the oil and gas producer’s stock worth $67,000 after buying an additional 645 shares during the last quarter. Mediolanum International Funds Ltd grew its holdings in shares of EQT by 68.4% during the third quarter. Mediolanum International Funds Ltd now owns 6,627 shares of the oil and gas producer’s stock worth $242,000 after buying an additional 2,692 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC purchased a new position in shares of EQT during the third quarter worth about $236,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s payout ratio is 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.