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

EQT Co. (NYSE:EQT) – Analysts at Zacks Research raised their FY2024 earnings per share estimates for shares of EQT in a research note issued on Thursday, January 9th. Zacks Research analyst R. Department now anticipates that the oil and gas producer will earn $1.33 per share for the year, up from their previous estimate 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 posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. 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 company earned $0.30 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year.

A number of other brokerages also recently weighed in on EQT. Bank of America assumed coverage on shares of EQT in a research note on Monday, October 28th. They set a “buy” rating and a $50.00 target price for the company. Piper Sandler raised their price objective on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. lifted their price objective on EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. StockNews.com raised EQT to a “sell” rating in a research note on Monday, December 30th. Finally, Jefferies Financial Group lifted their price target on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.67.

EQT Stock Up 1.1 %

Shares of EQT stock opened at $50.62 on Monday. EQT has a 1 year low of $30.02 and a 1 year high of $51.21. The firm has a market cap of $30.20 billion, a price-to-earnings ratio of 60.26 and a beta of 1.12. The company has a 50-day moving average of $45.09 and a 200 day moving average of $38.45. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

Hedge Funds Weigh In On EQT

A number of institutional investors and hedge funds have recently made changes to their positions in the business. 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 during the period. State Street Corp raised its holdings in EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares during the period. Modera Wealth Management LLC purchased a new position in EQT during the third quarter valued at $562,494,000. Geode Capital Management LLC grew its holdings in EQT by 34.4% during the third 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 purchasing an additional 3,582,418 shares during the period. Finally, Clearbridge Investments LLC increased its position in EQT by 2.9% in the second quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after buying an additional 253,186 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insiders Place Their Bets

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 directly owns 201,608 shares in the company, valued at $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.63% of the stock is currently owned by insiders.

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.