EQT FY2024 EPS Forecast Boosted by Capital One Financial

EQT Co. (NYSE:EQT) – Research analysts at Capital One Financial boosted their FY2024 EPS estimates for shares of EQT in a research report issued 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.

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

Several other equities research analysts also recently weighed in on the stock. Piper Sandler raised their target price on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Truist Financial upped their target price on EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research report on Monday. Citigroup increased their price target on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on shares of EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Finally, Sanford C. Bernstein initiated coverage on shares of EQT in a research report on Friday, December 6th. They issued a “market perform” rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and a consensus target price of $48.67.

EQT Price Performance

EQT opened at $50.62 on Monday. The firm has a market capitalization of $30.20 billion, a PE ratio of 60.26 and a beta of 1.12. The business’s 50-day moving average is $45.09 and its two-hundred day moving average is $38.45. EQT has a 1 year low of $30.02 and a 1 year high of $51.21. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

Insider Buying and Selling

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

Institutional Investors Weigh In On EQT

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

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.