Research Analysts Offer Predictions for EQT Co.'s Q3 2023 Earnings (NYSE:EQT) – MarketBeat

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EQT Co. (NYSE:EQT) – Research analysts at US Capital Advisors raised their Q3 2023 EPS estimates for shares of EQT in a note issued to investors on Thursday, February 3rd. US Capital Advisors analyst C. Horwitz now anticipates that the oil and gas producer will post earnings per share of $1.22 for the quarter, up from their prior forecast of $1.03. US Capital Advisors also issued estimates for EQT’s Q4 2023 earnings at $1.39 EPS.
EQT has been the subject of a number of other research reports. Morgan Stanley raised shares of EQT from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $24.00 to $31.00 in a research note on Friday, November 19th. JPMorgan Chase & Co. raised shares of EQT from a “neutral” rating to an “overweight” rating and set a $31.00 target price for the company in a research note on Friday, October 29th. They noted that the move was a valuation call. Truist Financial decreased their target price on shares of EQT from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, January 14th. Finally, Mizuho lifted their target price on shares of EQT from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, October 18th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, EQT has a consensus rating of “Buy” and an average price target of $27.60.
EQT stock opened at $21.56 on Monday. The company has a 50 day moving average price of $21.50 and a 200 day moving average price of $20.35. EQT has a 52 week low of $15.71 and a 52 week high of $24.83. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of -2.44, a P/E/G ratio of 0.38 and a beta of 1.11. (adsbygoogle = window.adsbygoogle || []).push({});
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 1st. Investors of record on Monday, February 14th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Friday, February 11th. This is a positive change from EQT’s previous quarterly dividend of $0.03.
EQT declared that its Board of Directors has approved a stock repurchase program on Monday, December 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the oil and gas producer to buy up to 13.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
Several hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its stake in shares of EQT by 13.8% in the 4th quarter. Arizona State Retirement System now owns 86,480 shares of the oil and gas producer’s stock valued at $1,886,000 after purchasing an additional 10,454 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in EQT by 10.6% in the 4th quarter. Mutual of America Capital Management LLC now owns 747,541 shares of the oil and gas producer’s stock worth $16,304,000 after acquiring an additional 71,692 shares during the period. Nisa Investment Advisors LLC raised its holdings in EQT by 0.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 105,781 shares of the oil and gas producer’s stock worth $2,248,000 after acquiring an additional 595 shares during the period. Balentine LLC bought a new position in EQT in the 4th quarter worth $213,000. Finally, New York State Common Retirement Fund raised its holdings in EQT by 17.8% in the 4th quarter. New York State Common Retirement Fund now owns 414,996 shares of the oil and gas producer’s stock worth $9,051,000 after acquiring an additional 62,780 shares during the period. 88.30% of the stock is owned by institutional investors and hedge funds.
About EQT
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.
Further Reading

Earnings History and Estimates for EQT (NYSE:EQT)
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