Capital One Financial Comments on EQT Co.’s Q3 2024 Earnings (NYSE:EQT)

EQT Co. (NYSE:EQT) – Equities research analysts at Capital One Financial cut their Q3 2024 earnings estimates for EQT in a note issued to investors on Tuesday, September 17th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings of $0.11 per share for the quarter, down from their prior forecast of $0.28. The consensus estimate for EQT’s current full-year earnings is $1.44 per share. Capital One Financial also issued estimates for EQT’s Q4 2024 earnings at $0.50 EPS, Q1 2025 earnings at $0.77 EPS, Q2 2025 earnings at $0.70 EPS, Q3 2025 earnings at $0.76 EPS, Q4 2025 earnings at $0.76 EPS, FY2025 earnings at $2.99 EPS and FY2026 earnings at $3.85 EPS.

Several other equities research analysts have also weighed in on the company. Morgan Stanley reissued an “overweight” rating and set a $45.00 target price on shares of EQT in a research report on Friday, September 13th. Jefferies Financial Group boosted their price objective on shares of EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a report on Wednesday, August 14th. Truist Financial cut their price target on shares of EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of EQT from $42.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, EQT presently has a consensus rating of “Hold” and an average target price of $43.28.

EQT Stock Up 0.3 %

Shares of NYSE EQT opened at $34.83 on Friday. The business has a 50-day moving average of $33.28 and a two-hundred day moving average of $36.44. The company has a market capitalization of $15.38 billion, a price-to-earnings ratio of 25.24 and a beta of 1.06. EQT has a 1 year low of $30.02 and a 1 year high of $45.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73.

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

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Wednesday, August 7th. EQT’s payout ratio is currently 45.65%.

Institutional Investors Weigh In On EQT

Several large investors have recently modified their holdings of EQT. Innealta Capital LLC acquired a new position in EQT in the 2nd quarter valued at $28,000. Blue Trust Inc. raised its holdings in EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 598 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in EQT by 936.1% during the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 908 shares in the last quarter. Principal Securities Inc. acquired a new stake in EQT in the fourth quarter valued at about $51,000. Finally, Industrial Alliance Investment Management Inc. boosted its holdings in EQT by 65.5% in the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 1,440 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 570 shares in the last quarter. Hedge funds and other institutional investors 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.