Zacks Research Weighs in on EQT Co.’s Q3 2024 Earnings (NYSE:EQT)

EQT Co. (NYSE:EQT) – Research analysts at Zacks Research issued their Q3 2024 earnings estimates for EQT in a report released on Tuesday, June 25th. Zacks Research analyst A. Kanoria forecasts 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 $1.03 per share. Zacks Research also issued estimates for EQT’s FY2024 earnings at $0.94 EPS and Q2 2025 earnings at $0.82 EPS.

Several other research analysts have also commented on EQT. StockNews.com upgraded shares of EQT to a “sell” rating in a report on Wednesday, May 29th. Wells Fargo & Company lowered shares of EQT from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $48.00 to $37.00 in a research note on Wednesday, April 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price objective on shares of EQT in a research note on Tuesday, March 5th. Jefferies Financial Group lifted their price objective on shares of EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $37.00 price objective (down previously from $39.00) on shares of EQT in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, EQT presently has a consensus rating of “Hold” and a consensus target price of $45.24.

EQT Trading Down 2.0 %

NYSE EQT opened at $37.76 on Thursday. EQT has a one year low of $32.07 and a one year high of $45.23. The company’s 50 day moving average price is $39.81 and its 200 day moving average price is $37.63. 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 firm has a market capitalization of $16.67 billion, a price-to-earnings ratio of 27.36 and a beta of 1.06.

EQT (NYSE:EQT) last released its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (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 for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the company earned $1.70 earnings per share. The company’s quarterly revenue was down 28.8% on a year-over-year basis.

Institutional Investors Weigh In On EQT

Several hedge funds and other institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale raised its position in EQT by 6.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 23,943 shares of the oil and gas producer’s stock worth $856,000 after acquiring an additional 1,379 shares in the last quarter. Boston Partners lifted its stake in EQT by 33.7% during the first quarter. Boston Partners now owns 3,834,505 shares of the oil and gas producer’s stock valued at $142,178,000 after buying an additional 966,475 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in EQT by 135.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 79,047 shares of the oil and gas producer’s stock valued at $2,930,000 after buying an additional 45,420 shares in the last quarter. Cetera Advisors LLC lifted its stake in EQT by 9.9% during the first quarter. Cetera Advisors LLC now owns 14,586 shares of the oil and gas producer’s stock valued at $541,000 after buying an additional 1,318 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new stake in EQT during the first quarter valued at about $2,274,000. 90.81% of the stock is currently owned by institutional investors.

Insider Activity

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

EQT Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, May 7th. EQT’s dividend payout ratio (DPR) is 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.