EQT Co. to Post FY2022 Earnings of $0.56 Per Share, Piper Sandler Forecasts (NYSE:EQT)

EQT Co. (NYSE:EQT) – Piper Sandler cut their FY2022 earnings per share estimates for shares of EQT in a research note issued to investors on Thursday, April 15th. Piper Sandler analyst K. Harrison now expects that the oil and gas producer will post earnings of $0.56 per share for the year, down from their previous forecast of $0.61. Piper Sandler currently has a “Overweight” rating and a $22.00 price objective on the stock. Piper Sandler also issued estimates for EQT’s Q4 2022 earnings at $0.22 EPS.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, February 16th. The oil and gas producer reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.18. EQT had a negative net margin of 78.35% and a negative return on equity of 0.58%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $899.31 million.

A number of other brokerages also recently commented on EQT. Capital One Financial reissued an “overweight” rating on shares of EQT in a research report on Wednesday, January 13th. TD Securities upped their target price on shares of EQT from $20.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, February 18th. TheStreet upgraded shares of EQT from a “d” rating to a “c-” rating in a report on Wednesday, February 17th. Finally, Morgan Stanley upped their target price on shares of EQT from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, March 17th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. EQT has a consensus rating of “Buy” and an average target price of $18.00.

Shares of EQT opened at $17.38 on Monday. EQT has a fifty-two week low of $10.52 and a fifty-two week high of $20.36. The firm’s 50 day moving average price is $18.22 and its 200 day moving average price is $16.02. The company has a market cap of $4.85 billion, a P/E ratio of -2.01 and a beta of 1.26. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.53.

Institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley lifted its holdings in EQT by 166.5% in the third quarter. Morgan Stanley now owns 322,102 shares of the oil and gas producer’s stock worth $4,164,000 after purchasing an additional 201,248 shares during the period. Captrust Financial Advisors lifted its holdings in EQT by 414.0% in the 3rd quarter. Captrust Financial Advisors now owns 6,985 shares of the oil and gas producer’s stock valued at $89,000 after acquiring an additional 5,626 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in EQT in the 3rd quarter valued at about $399,000. California State Teachers Retirement System lifted its holdings in EQT by 4.7% in the 3rd quarter. California State Teachers Retirement System now owns 448,995 shares of the oil and gas producer’s stock valued at $5,806,000 after acquiring an additional 20,178 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in EQT by 87.5% in the 3rd quarter. Sei Investments Co. now owns 117,173 shares of the oil and gas producer’s stock valued at $1,542,000 after acquiring an additional 54,671 shares during the last quarter. Institutional investors own 93.82% of the company’s stock.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2020, it had 19.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.8 million gross acres.

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Earnings History and Estimates for EQT (NYSE:EQT)

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