Capital One Financial Increases Earnings Estimates for EQT

EQT Co. (NYSE:EQT) – Capital One Financial lifted their FY2024 earnings estimates for EQT in a research note 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 issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 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 business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year.

Other equities research analysts have also recently issued reports about the stock. Citigroup increased their price objective on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Truist Financial lifted their price objective on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research note on Monday. Wells Fargo & Company increased their target price on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price target on shares of EQT in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted their price objective on EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and an average target price of $48.67.

EQT Price Performance

EQT stock opened at $50.07 on Monday. The company has a market capitalization of $29.88 billion, a P/E ratio of 59.61 and a beta of 1.12. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. EQT has a 52-week low of $30.02 and a 52-week high of $50.12. The company has a fifty day moving average price of $44.83 and a 200-day moving average price of $38.36.

Institutional Investors Weigh In On EQT

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

Insiders Place Their Bets

In other EQT news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the transaction, the director now directly owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

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.