EQT Corporation (EQT) shares ended the last trading session 5.6% higher at $50.17. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.3% loss over the past four weeks.
The surge can be attributed to a broader gain in natural gas prices, which rose by almost 10% in the last trading session. This increase was part of a broader rally driven by President Donald Trump's decision to implement a 90-day pause on “reciprocal” tariffs for most countries. However, President Trump has decided to maintain a reduced tariff rate of 10%. Natural gas prices have been rising in the United States throughout the first quarter due to a colder winter season. Furthermore, the rise of data centers and power facilities should sustain a high demand for the commodity, which, in turn, will continue to support a favorable price for natural gas. EQT Corporation, being the largest integrated natural gas producer in the United States, should benefit from the increase in prices.
This company is expected to post quarterly earnings of $1.01 per share in its upcoming report, which represents a year-over-year change of +23.2%. Revenues are expected to be $2.15 billion, up 24.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For EQT, the consensus EPS estimate for the quarter has been revised 27.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on EQT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
EQT belongs to the Zacks Oil and Gas - Exploration and Production - United States industry. Another stock from the same industry, W&T Offshore (WTI), closed the last trading session 7.9% higher at $1.23. Over the past month, WTI has returned -21.9%.
For W&T , the consensus EPS estimate for the upcoming report has changed +13% over the past month to -$0.14. This represents a change of -180% from what the company reported a year ago. W&T currently has a Zacks Rank of #3 (Hold).
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This article originally published on Zacks Investment Research (zacks.com).
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