What is Zacks Research’s Forecast for EQT FY2024 Earnings?

EQT Co. (NYSE:EQT) – Analysts at Zacks Research lifted their FY2024 earnings per share estimates for EQT in a report released on Thursday, January 16th. Zacks Research analyst R. Department now anticipates that the oil and gas producer will post earnings per share of $1.35 for the year, up from their prior estimate of $1.33. The consensus estimate for EQT’s current full-year earnings is $1.44 per share. Zacks Research also issued estimates for EQT’s Q4 2024 earnings at $0.49 EPS, Q3 2025 earnings at $0.55 EPS, Q4 2025 earnings at $1.20 EPS, Q1 2026 earnings at $1.13 EPS, Q2 2026 earnings at $0.65 EPS and Q3 2026 earnings at $0.81 EPS.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion during 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 company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS.

Several other equities analysts also recently commented on EQT. Citigroup increased their target price on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, December 6th. BMO Capital Markets increased their price target on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Jefferies Financial Group boosted their price objective on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. StockNews.com raised shares of EQT to a “sell” rating in a research report on Monday, December 30th. Finally, Piper Sandler increased their price target on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.89.

EQT Stock Down 1.6 %

Shares of NYSE EQT opened at $52.93 on Monday. The stock has a 50-day moving average price of $45.83 and a two-hundred day moving average price of $38.79. The company has a market cap of $31.58 billion, a price-to-earnings ratio of 63.02 and a beta of 1.12. EQT has a 12 month low of $30.02 and a 12 month high of $53.98. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EQT. Wellington Management Group LLP lifted its position in EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after purchasing an additional 20,700,921 shares during the last quarter. Modera Wealth Management LLC bought a new stake in EQT in the third quarter worth about $562,494,000. State Street Corp grew its stake in shares of 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 valued at $1,359,183,000 after buying an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC boosted its holdings in EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after acquiring an additional 3,582,418 shares during the period. Finally, Holocene Advisors LP purchased a new stake in EQT in the third quarter worth $97,979,000. Institutional investors own 90.81% of the company’s stock.

Insider Buying and Selling at EQT

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