EQT Corporation’s Stock Shows Resilience Amid Mixed Earnings Report
Overview of EQT’s Market Position
Pittsburgh, Pennsylvania-based EQT Corporation (EQT) explores and produces natural gas, primarily in the Appalachian Basin, which includes Ohio, Pennsylvania, and West Virginia. With a market cap of $26.6 billion, EQT plays a key role in the energy market, selling natural gas and natural gas liquids through its pipeline network to utilities, marketers, and industrial customers.
Falling within the “large-cap stocks” category, EQT’s significant size is a reflection of its influence in the energy sector. In addition to production, the company offers marketing services and manages pipeline capacity contracts.
Recent Stock Performance
The stock reached a two-year high of $48.02 on November 21, currently trading 7.2% below that peak. Over the last three months, EQT has surged 25.1%, outpacing the Nasdaq Composite’s ($NASX) increase of 10.3% during the same period.
Long-Term Trends and Moving Averages
Long-term performance indicates some challenges for EQT. Although it advanced 15.7% over the past six months, slightly exceeding NASX’s 14.5% increase, its year-over-year performance shows only 15.3% growth compared to NASX’s remarkable 33.6% surge.
However, EQT has demonstrated a positive trend, consistently trading above its 50-day moving average since mid-September and the 200-day moving average since late September, despite minor fluctuations.
Earnings Report Highlights
EQT stock jumped 3.4% in response to its Q3 earnings release on October 29, with an adjusted EPS of $0.12—significantly exceeding analysts’ expectations of $0.05. Moreover, EQT raised its Q4 sales volume guidance, which helped bolster investor confidence. The company reported total operating revenues of $1.3 billion, reflecting an 8.2% increase year-over-year, driven largely by growth in pipeline and marketing services revenues.
On the downside, operating expenses increased by 33.8% year-over-year to $1.6 billion. This rise in costs, which includes spending on SG&A, operating and maintenance, and depreciation, resulted in an operating loss of $281.8 million for the quarter, contrasting sharply with the $15.8 million operating profit recorded in the same period of the previous year.
Comparative Performance and Analyst Outlook
EQT has outperformed its peer, EOG Resources, Inc. (EOG), which faced a 3.6% decline over the past six months and a 1.2% decrease over the past year.
A consensus among 22 analysts reveals a “Moderate Buy” rating for EQT, with a mean price target of $48.13, suggesting an 8% upside from current levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. For more information, please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
