EQT FY2024 EPS Forecast Boosted by Capital One Financial

EQT Co. (NYSE:EQT) – Analysts at Capital One Financial increased their FY2024 earnings per share (EPS) estimates for shares of EQT in a research note issued to investors on Wednesday, January 8th. Capital One Financial analyst B. Velie now expects that the oil and gas producer will earn $1.20 per share for the year, up from their previous forecast of $1.19. 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 $0.34 EPS, FY2025 earnings at $3.19 EPS and FY2026 earnings at $4.83 EPS.

A number of other research analysts also recently commented on the company. Jefferies Financial Group increased their target price on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Citigroup lifted their price objective on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Truist Financial upped their target price on shares of EQT from $32.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday, November 26th. Morgan Stanley increased their price target on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, BMO Capital Markets upped their price objective on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and an average price target of $47.83.

EQT Price Performance

NYSE:EQT opened at $48.99 on Monday. The company has a market capitalization of $29.23 billion, a P/E ratio of 58.32 and a beta of 1.12. The business’s 50-day moving average is $44.56 and its 200 day moving average is $38.27. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a 12 month low of $30.02 and a 12 month high of $50.03.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. EQT’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company posted $0.30 earnings per share.

Insider Buying and Selling

In other EQT news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the transaction, the director now directly owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EQT

Several hedge funds have recently modified their holdings of EQT. HM Payson & Co. purchased a new stake in shares of EQT during the third quarter valued at $25,000. Truvestments Capital LLC acquired a new stake in EQT during the 3rd quarter worth about $30,000. Hexagon Capital Partners LLC grew its stake in EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 904 shares during the last quarter. Quarry LP raised its stake in shares of EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 578 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of EQT during the third quarter worth about $36,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.