Zacks Research Has Positive Outlook for EQT FY2024 Earnings

EQT Co. (NYSE:EQT) – Stock analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for shares of EQT in a research note issued to investors on Thursday, January 16th. Zacks Research analyst R. Department now forecasts that the oil and gas producer will post earnings per share of $1.35 for the year, up from their previous estimate of $1.33. The consensus estimate for EQT’s current full-year earnings is $1.42 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 has been the subject of a number of other reports. Wells Fargo & Company upped their price objective on shares of EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Stephens lifted their price target on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target for the company in a research report on Wednesday, January 15th. Truist Financial upped 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, January 13th. Finally, StockNews.com raised EQT to a “sell” rating in a research report on Monday, December 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

EQT Stock Performance

EQT opened at $53.33 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market cap of $31.82 billion, a PE ratio of 63.48 and a beta of 1.12. The business has a fifty day simple moving average of $46.01 and a 200-day simple moving average of $38.91. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $53.98.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of EQT by 15.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer’s stock valued at $79,000 after acquiring an additional 236 shares during the period. Radnor Capital Management LLC lifted its holdings in EQT by 0.4% during the 4th quarter. Radnor Capital Management LLC now owns 60,948 shares of the oil and gas producer’s stock valued at $2,810,000 after purchasing an additional 237 shares during the last quarter. Davis Investment Partners LLC grew its position in EQT by 1.0% during the 3rd quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock worth $1,137,000 after acquiring an additional 317 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in EQT by 7.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock valued at $224,000 after purchasing an additional 421 shares in the last quarter. Finally, Financial Avengers Inc. raised its position in EQT by 100.8% in the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 504 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Thomas F. Karam sold 30,154 shares of EQT 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 sale, the director now directly owns 201,608 shares of the company’s stock, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.