EQT Co. (EQT) Expected to Announce Earnings of $0.79 Per Share

Wall Street analysts predict that EQT Co. (NYSE:EQT) will post earnings per share of $0.79 for the current quarter, Zacks reports. Two analysts have made estimates for EQT’s earnings. The highest EPS estimate is $0.88 and the lowest is $0.62. EQT reported earnings per share of $1.01 in the same quarter last year, which indicates a negative year-over-year growth rate of 21.8%. The company is expected to issue its next earnings report before the market opens on Thursday, April 25th.

According to Zacks, analysts expect that EQT will report full year earnings of $1.41 per share for the current financial year, with EPS estimates ranging from $0.80 to $2.08. For the next financial year, analysts forecast that the firm will post earnings of $0.86 per share, with EPS estimates ranging from $0.43 to $1.59. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for EQT.

EQT (NYSE:EQT) last issued its quarterly earnings results on Thursday, February 14th. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.02). The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.27 billion. EQT had a positive return on equity of 4.46% and a negative net margin of 45.88%. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 EPS.

A number of research analysts recently issued reports on the stock. Credit Suisse Group reiterated a “buy” rating and set a $24.00 target price on shares of EQT in a research report on Tuesday, January 22nd. Royal Bank of Canada downgraded shares of EQT from an “outperform” rating to a “sector perform” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Stifel Nicolaus set a $79.00 target price on shares of EQT and gave the company a “buy” rating in a research report on Thursday, December 20th. Morgan Stanley set a $10.00 target price on shares of EQT and gave the company a “sell” rating in a research report on Tuesday, January 29th. Finally, TD Securities boosted their target price on shares of EQT from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, February 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $37.47.

In other EQT news, CEO Robert Joseph Mcnally acquired 1,496 shares of the stock in a transaction on Tuesday, February 19th. The shares were purchased at an average price of $19.10 per share, for a total transaction of $28,573.60. Following the completion of the acquisition, the chief executive officer now owns 180,245 shares in the company, valued at approximately $3,442,679.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP David Joseph Smith acquired 16,800 shares of the stock in a transaction on Tuesday, February 19th. The shares were acquired at an average price of $19.06 per share, for a total transaction of $320,208.00. Following the acquisition, the senior vice president now owns 42,102 shares of the company’s stock, valued at approximately $802,464.12. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 59,459 shares of company stock worth $1,177,466. Corporate insiders own 0.68% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQT. Vanguard Group Inc grew its stake in shares of EQT by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 28,073,288 shares of the oil and gas producer’s stock worth $1,241,682,000 after acquiring an additional 687,779 shares in the last quarter. BlackRock Inc. grew its stake in shares of EQT by 30.4% in the 4th quarter. BlackRock Inc. now owns 23,893,102 shares of the oil and gas producer’s stock worth $451,340,000 after acquiring an additional 5,573,274 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of EQT by 25.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 11,470,216 shares of the oil and gas producer’s stock worth $216,672,000 after acquiring an additional 2,358,301 shares in the last quarter. Millennium Management LLC grew its stake in shares of EQT by 1,770.8% in the 4th quarter. Millennium Management LLC now owns 6,387,529 shares of the oil and gas producer’s stock worth $120,660,000 after acquiring an additional 6,046,100 shares in the last quarter. Finally, Share Andrew L. grew its stake in shares of EQT by 13.6% in the 4th quarter. Share Andrew L. now owns 5,676,000 shares of the oil and gas producer’s stock worth $107,220,000 after acquiring an additional 680,000 shares in the last quarter. Hedge funds and other institutional investors own 96.49% of the company’s stock.

Shares of EQT stock traded up $0.25 during trading on Monday, reaching $21.58. 2,043,948 shares of the company traded hands, compared to its average volume of 4,446,142. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. EQT has a 1-year low of $16.29 and a 1-year high of $31.28. The company has a market capitalization of $5.43 billion, a PE ratio of 12.69, a PEG ratio of 1.52 and a beta of 0.71.

About EQT

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

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