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

EQT Co. (NYSE:EQT) – Analysts at Zacks Research issued their Q3 2024 EPS estimates for shares of EQT in a research note issued to investors on Tuesday, June 25th. Zacks Research analyst A. Kanoria anticipates that the oil and gas producer will earn $0.01 per share for the quarter. The consensus estimate for EQT’s current full-year earnings is $1.05 per share. Zacks Research also issued estimates for EQT’s FY2024 earnings at $0.94 EPS and Q2 2025 earnings at $0.82 EPS.

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

Several other brokerages have also recently commented on EQT. Sanford C. Bernstein raised shares of EQT from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $27.00 to $34.00 in a research report on Wednesday, April 10th. 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. BMO Capital Markets increased their price target on shares of EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. Scotiabank increased their price objective on shares of EQT from $52.00 to $54.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 9th. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.24.

EQT Stock Performance

Shares of EQT stock opened at $36.98 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. EQT has a one year low of $32.07 and a one year high of $45.23. The company’s 50-day simple moving average is $39.87 and its 200-day simple moving average is $37.63. The stock has a market capitalization of $16.33 billion, a price-to-earnings ratio of 26.80 and a beta of 1.06.

Institutional Trading of EQT

Large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its holdings in EQT by 3.6% during the fourth quarter. California State Teachers Retirement System now owns 538,463 shares of the oil and gas producer’s stock worth $20,817,000 after buying an additional 18,804 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in EQT by 421.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 64,900 shares of the oil and gas producer’s stock worth $2,509,000 after buying an additional 52,443 shares in the last quarter. Cibc World Markets Corp boosted its holdings in EQT by 162.4% during the fourth quarter. Cibc World Markets Corp now owns 52,370 shares of the oil and gas producer’s stock worth $2,025,000 after buying an additional 32,409 shares in the last quarter. National Bank of Canada FI boosted its stake in EQT by 600.0% in the 4th quarter. National Bank of Canada FI now owns 95,871 shares of the oil and gas producer’s stock worth $3,731,000 after purchasing an additional 82,176 shares during the period. Finally, Third Point LLC acquired a new position in EQT in the 4th quarter worth approximately $75,387,000. 90.81% of the stock is currently owned by institutional investors.

Insider Activity at EQT

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

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 8th were paid a dividend of $0.1575 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.70%. EQT’s dividend payout ratio is presently 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.