EQT Co. (NYSE:EQT) Expected to Earn Q2 2024 Earnings of $0.03 Per Share

EQT Co. (NYSE:EQT) – Research analysts at Capital One Financial decreased their Q2 2024 earnings per share estimates for EQT in a report issued on Tuesday, April 30th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings per share of $0.03 for the quarter, down from their previous forecast of $0.05. The consensus estimate for EQT’s current full-year earnings is $1.01 per share. Capital One Financial also issued estimates for EQT’s FY2025 earnings at $3.11 EPS.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. The firm’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same period last year, the firm posted $1.70 earnings per share.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group upped their price target on shares of EQT from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Sanford C. Bernstein raised EQT from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $27.00 to $34.00 in a research note on Wednesday, April 10th. JPMorgan Chase & Co. restated a “neutral” rating and set a $37.00 price objective (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Morgan Stanley increased their price target on shares of EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group dropped their price objective on shares of EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $44.56.

EQT Price Performance

NYSE EQT opened at $38.63 on Thursday. EQT has a 1 year low of $30.84 and a 1 year high of $45.23. The stock’s 50-day moving average price is $36.71 and its two-hundred day moving average price is $37.87. The company has a market cap of $17.06 billion, a PE ratio of 27.99 and a beta of 1.09. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s dividend payout ratio is 45.65%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. boosted its holdings in EQT by 1.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 152,797 shares of the oil and gas producer’s stock valued at $6,201,000 after purchasing an additional 2,482 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of EQT by 1.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 118,245 shares of the oil and gas producer’s stock worth $4,798,000 after acquiring an additional 1,124 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of EQT by 3.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 46,851 shares of the oil and gas producer’s stock worth $1,901,000 after purchasing an additional 1,347 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of EQT by 8.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 265,226 shares of the oil and gas producer’s stock valued at $10,763,000 after purchasing an additional 20,979 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in EQT by 61.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 55,864 shares of the oil and gas producer’s stock worth $2,267,000 after purchasing an additional 21,212 shares during the period. 90.81% of the stock is owned by institutional investors.

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.