EQT Co. to Post Q3 2024 Earnings of $0.08 Per Share, Capital One Financial Forecasts (NYSE:EQT)

EQT Co. (NYSE:EQT) – Equities researchers at Capital One Financial lowered their Q3 2024 EPS estimates for EQT in a research note issued to investors on Tuesday, October 8th. Capital One Financial analyst B. Velie now expects that the oil and gas producer will earn $0.08 per share for the quarter, down from their previous estimate of $0.11. 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 $0.49 EPS, Q1 2025 earnings at $0.76 EPS, Q2 2025 earnings at $0.69 EPS, FY2025 earnings at $2.96 EPS and FY2026 earnings at $3.81 EPS.

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

A number of other equities research analysts have also issued reports on the stock. UBS Group dropped their price objective on shares of EQT from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. BMO Capital Markets lifted their target price on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Piper Sandler cut shares of EQT from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $43.00 to $32.00 in a research report on Thursday, August 15th. Truist Financial dropped their price objective on shares of EQT from $36.00 to $32.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Finally, Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and raised their price target for the company from $37.00 to $44.00 in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.18.

EQT Stock Performance

NYSE:EQT opened at $36.62 on Thursday. 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 company’s 50-day moving average price is $33.61 and its 200-day moving average price is $36.59. The company has a market cap of $16.17 billion, a P/E ratio of 26.54 and a beta of 1.06. EQT has a twelve month low of $30.02 and a twelve month high of $45.23.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.72%. EQT’s dividend payout ratio (DPR) is 45.65%.

Institutional Trading of EQT

Several large investors have recently bought and sold shares of the company. Third Point LLC purchased a new position in EQT during the 4th quarter valued at about $75,387,000. Cetera Investment Advisers acquired a new stake in EQT during the 1st quarter valued at $2,274,000. Vanguard Group Inc. increased its position in EQT by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 46,922,862 shares of the oil and gas producer’s stock worth $1,814,038,000 after buying an additional 2,023,222 shares in the last quarter. UniSuper Management Pty Ltd increased its position in EQT by 563.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 29,102 shares of the oil and gas producer’s stock worth $1,079,000 after purchasing an additional 24,713 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in EQT by 17.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 468,677 shares of the oil and gas producer’s stock valued at $17,374,000 after purchasing an additional 70,325 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.