Capital One Financial Brokers Increase Earnings Estimates for EQT Co. (NYSE:EQT)
EQT Co. (NYSE:EQT – Get Rating) – Investment analysts at Capital One Financial lifted their Q4 2022 earnings estimates for shares of EQT in a report issued on Monday, August 1st. Capital One Financial analyst B. Velie now expects that the oil and gas producer will post earnings per share of $1.05 for the quarter, up from their prior forecast of $0.76. The consensus estimate for EQT’s current full-year earnings is $3.74 per share. Capital One Financial also issued estimates for EQT’s Q2 2023 earnings at $1.72 EPS, Q4 2023 earnings at $1.91 EPS and FY2023 earnings at $7.01 EPS.
EQT (NYSE:EQT – Get Rating) last released its earnings results on Wednesday, July 27th. The oil and gas producer reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.32. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the business earned $0.07 earnings per share. The company’s revenue for the quarter was up 61.7% compared to the same quarter last year.
A number of other research analysts have also weighed in on EQT. Truist Financial raised their target price on shares of EQT from $35.00 to $60.00 in a research note on Thursday, April 21st. Tudor Pickering upgraded shares of EQT from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Monday, April 11th. StockNews.com upgraded shares of EQT from a “sell” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company raised their price target on shares of EQT from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, July 11th. Finally, Scotiabank initiated coverage on shares of EQT in a report on Wednesday. They set an “outperform” rating and a $54.00 price target for the company. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and an average target price of $52.83.
EQT Trading Down 3.6 %
EQT opened at $41.25 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.57 and a quick ratio of 0.57. The company’s 50 day simple moving average is $40.66 and its two-hundred day simple moving average is $34.64. EQT has a 1-year low of $15.71 and a 1-year high of $50.41. The firm has a market capitalization of $15.26 billion, a price-to-earnings ratio of -15.17, a price-to-earnings-growth ratio of 0.22 and a beta of 1.19.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Counterpoint Mutual Funds LLC acquired a new position in EQT during the first quarter worth $25,000. MV Capital Management Inc. acquired a new position in EQT during the fourth quarter worth $26,000. Sageworth Trust Co of South Dakota acquired a new position in EQT during the fourth quarter worth $26,000. Steward Partners Investment Advisory LLC acquired a new position in EQT during the first quarter worth $31,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in EQT during the second quarter worth $32,000. 90.34% of the stock is currently owned by hedge funds and other institutional investors.
EQT Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Tuesday, August 9th will be paid a $0.15 dividend. This is an increase from EQT’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, August 8th. EQT’s dividend payout ratio (DPR) is -18.38%.
EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play.
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