Zacks Research Has Positive Estimate for EQT FY2024 Earnings

EQT Co. (NYSE:EQT) – Stock analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for EQT in a report issued on Thursday, January 9th. Zacks Research analyst R. Department now expects that the oil and gas producer will earn $1.33 per share for the year, up from their previous forecast of $1.29. The consensus estimate for EQT’s current full-year earnings is $1.37 per share. Zacks Research also issued estimates for EQT’s Q4 2024 earnings at $0.47 EPS, Q4 2025 earnings at $1.14 EPS, FY2025 earnings at $3.08 EPS, Q4 2026 earnings at $1.33 EPS and FY2026 earnings at $3.71 EPS.

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

Other research analysts have also recently issued research reports about the company. Truist Financial boosted their price target on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. Citigroup increased their target price on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Piper Sandler upped their price target on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on shares of EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley boosted their target price on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

EQT Price Performance

EQT opened at $48.99 on Monday. EQT has a twelve month low of $30.02 and a twelve month high of $50.03. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market cap of $29.23 billion, a price-to-earnings ratio of 58.32 and a beta of 1.12. The company has a fifty day simple moving average of $44.56 and a 200 day simple moving average of $38.27.

Insider Buying and Selling at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.63% of the stock is owned by company insiders.

Institutional Trading of EQT

Several institutional investors have recently modified their holdings of EQT. Wellington Management Group LLP raised its position in EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after acquiring an additional 20,700,921 shares in the last quarter. Modera Wealth Management LLC acquired a new stake in EQT during the third quarter valued at approximately $562,494,000. State Street Corp boosted its holdings in EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after buying an additional 7,290,822 shares in the last quarter. Geode Capital Management LLC grew its position in EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after buying an additional 3,582,418 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of EQT in the third quarter valued at $97,979,000. 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.