Brokers Set Expectations for EQT Co.’s FY2023 Earnings (NYSE:EQT)

EQT Co. (NYSE:EQT – Get Rating) – Equities research analysts at US Capital Advisors upped their FY2023 earnings per share estimates for EQT in a note issued to investors on Friday, May 20th. US Capital Advisors analyst C. Horwitz now forecasts that the oil and gas producer will earn $8.40 per share for the year, up from their previous estimate of $8.37.

EQT (NYSE:EQT – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.18). During the same quarter in the prior year, the firm posted $0.30 EPS.

A number of other equities research analysts have also recently weighed in on the stock. Tudor Pickering upgraded shares of EQT from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Monday, April 11th. Zacks Investment Research upgraded shares of EQT from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Wednesday, May 18th. TD Securities upped their price objective on shares of EQT from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 29th. Truist Financial upped their price objective on shares of EQT from $35.00 to $60.00 in a report on Thursday, April 21st. Finally, Wells Fargo & Company upped their price objective on shares of EQT from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, March 14th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $48.17.

Shares of EQT opened at $45.12 on Monday. The stock has a market cap of $16.67 billion, a PE ratio of -5.46, a price-to-earnings-growth ratio of 0.48 and a beta of 0.97. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.40. EQT has a fifty-two week low of $15.71 and a fifty-two week high of $45.50. The firm’s 50-day simple moving average is $37.96 and its two-hundred day simple moving average is $27.66.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Wednesday, May 11th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Tuesday, May 10th. EQT’s payout ratio is -6.05%.

Institutional investors have recently modified their holdings of the stock. Counterpoint Mutual Funds LLC bought a new position in EQT during the first quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC bought a new position in EQT during the first quarter valued at approximately $31,000. Exchange Traded Concepts LLC bought a new position in EQT during the first quarter valued at approximately $41,000. MV Capital Management Inc. bought a new position in EQT during the fourth quarter valued at approximately $26,000. Finally, Sageworth Trust Co of South Dakota bought a new position in EQT during the fourth quarter valued at approximately $26,000. Institutional investors own 90.34% of the company’s stock.

About EQT (Get Rating)

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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