EQT Co. (NYSE:EQT) – Capital One Financial dropped their Q2 2022 EPS estimates for shares of EQT in a report released on Tuesday, February 15th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will post earnings per share of $0.27 for the quarter, down from their previous forecast of $0.76. Capital One Financial also issued estimates for EQT’s Q3 2022 earnings at $0.32 EPS, Q4 2022 earnings at $0.61 EPS, FY2022 earnings at $2.10 EPS and FY2023 earnings at $5.17 EPS. EQT (NYSE:EQT) last posted its quarterly earnings data on Wednesday, February 9th. The oil and gas producer reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). During the same quarter last year, the company earned ($0.02) EPS.
Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. raised shares of EQT from a “neutral” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research report on Friday, October 29th. They noted that the move was a valuation call. Morgan Stanley raised shares of EQT from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $24.00 to $31.00 in a research report on Friday, November 19th. Truist Financial lowered their price target on shares of EQT from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, January 14th. MKM Partners reiterated a “buy” rating on shares of EQT in a research note on Thursday, February 10th. Finally, StockNews.com upgraded shares of EQT from a “sell” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, EQT has a consensus rating of “Buy” and a consensus price target of $27.60.
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EQT traded down $0.43 during trading on Friday, hitting $22.78. The company had a trading volume of 199,702 shares, compared to its average volume of 9,425,470. The company has a market capitalization of $8.57 billion, a PE ratio of -5.32, a PEG ratio of 0.75 and a beta of 1.11. EQT has a one year low of $15.71 and a one year high of $24.83. The firm’s 50-day moving average price is $21.95 and its 200 day moving average price is $20.50. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.45.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 1st. Shareholders of record on Monday, February 14th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.19{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. This is a positive change from EQT’s previous quarterly dividend of $0.03. The ex-dividend date is Friday, February 11th. EQT’s dividend payout ratio (DPR) is -11.47{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.
EQT announced that its board has authorized a share buyback program on Monday, December 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the oil and gas producer to repurchase up to 13.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Several institutional investors and hedge funds have recently added to or reduced their stakes in EQT. Nisa Investment Advisors LLC lifted its position in EQT by 0.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the fourth quarter. Nisa Investment Advisors LLC now owns 105,781 shares of the oil and gas producer’s stock valued at $2,248,000 after purchasing an additional 595 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in EQT by 0.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the fourth quarter. Louisiana State Employees Retirement System now owns 77,700 shares of the oil and gas producer’s stock valued at $1,695,000 after purchasing an additional 600 shares during the last quarter. Centre Asset Management LLC lifted its holdings in shares of EQT by 0.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 3rd quarter. Centre Asset Management LLC now owns 164,890 shares of the oil and gas producer’s stock worth $3,351,000 after acquiring an additional 760 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of EQT by 117.1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,511 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 815 shares during the last quarter. Finally, State of Michigan Retirement System increased its stake in shares of EQT by 1.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the fourth quarter. State of Michigan Retirement System now owns 76,661 shares of the oil and gas producer’s stock worth $1,672,000 after buying an additional 900 shares during the period. 89.38{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the stock is currently owned by institutional investors.
EQT Company Profile
EQT Corp. engages in natural gas production, gathering and transmission in the Appalachian area. It has operations in Marcellus and Utica Shales of the Appalachian Basin. The company was founded in 1888 and is headquartered in Pittsburgh, PA.
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