EQT Corporation (EQT), headquartered in Pittsburgh, Pennsylvania, operates as a natural gas production company. With a market cap of $31.3 billion, EQT is an integrated energy company with emphasis on Appalachian area natural-gas supply, transmission, and distribution, offering its products to wholesale and retail customers. The leading independent natural gas producer is expected to announce its fiscal fourth-quarter earnings for 2024 after the market closes on Tuesday, Feb. 18.
Ahead of the event, analysts expect EQT to report a profit of $0.49 per share on a diluted basis, up 2.1% from $0.48 per share in the year-ago quarter. The company beat or matched the consensus estimates in each of the last four quarters.
For the full year, analysts expect EQT to report EPS of $1.42, down 38% from $2.29 in fiscal 2023. However, its EPS is expected to rise 133.8% year over year to $3.32 in fiscal 2025.
EQT stock has outperformed the S&P 500’s ($SPX) 24.6% gains over the past 52 weeks, with shares up 48.2% during this period. Similarly, it outperformed the Energy Select Sector SPDR Fund’s (XLE) 15.5% gains over the same time frame.
EQT’s strong performance is driven by its robust production prospects in the gas-rich Appalachian region. The company is well-positioned to benefit from the growing demand for clean energy sources like natural gas. Additionally, EQT is expanding into clean hydrogen and low-carbon aviation fuel, tapping into new revenue streams. With the increasing demand for natural gas and rising commodity prices, fueled by power sector transitions and data center growth, EQT is set to capitalize on this opportunity and benefit from retiring coal plants and growing energy demands.
On Oct. 29, EQT reported its Q3 results and its shares closed up more than 3% in the following trading session. Its adjusted EPS declined 60% year over year to $0.12. The company’s revenue stood at $1.3 billion, up 8.2% year over year.
Analysts’ consensus opinion on EQT stock is moderately bullish, with a “Moderate Buy” rating overall. Out of 23 analysts covering the stock, 14 advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and eight give a “Hold.” While EQT currently trades above its mean price target of $50.87, the Street-high price target of $60 suggests an upside potential of 11.6%.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. More news from Barchart