Streetbeat News

EQT

EQT Corporation

https://www.eqt.com

Industry

Oil & Gas Exploration & Production

EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play. The company was founded in 1878 and is headquartered in Pittsburgh, Pennsylvania.

Open

42.88

Mkt cap

25B

Volume

4.7M

High

43.43

P/E Ratio

56.95

52-wk high

44.28

Low

42.45

Div yield

0.02

52-wk low

30.02

Piper Sandler analyst Mark Lear has maintained an Overweight rating on EQT Corporation (NYSE:EQT) but has reduced the price target from $52 to $49.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 2:00 pm

Analysts have diverse opinions on EQT Corporation (NYSE:EQT), with 6 analysts offering ratings in the last three months. The average 12-month price target for EQT is $48.33, up from $47.50, with a high estimate of $53.00 and a low of $39.00. Recent actions include maintaining, raising, and lowering ratings and price targets. EQT is an independent natural gas production company with a focus on the Marcellus and Utica shales. Financially, EQT has a market cap below industry average, a significant revenue decline of -72.73% as of September 30, 2023, a net margin of 8.06%, ROE of 0.62%, ROA of 0.35%, and a debt-to-equity ratio of 0.42.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 3:00 pm

RBC Capital analyst Scott Hanold has reiterated an Outperform rating on EQT Corporation (NYSE:EQT) and maintained a price target of $48.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:02 pm

Natural gas demand and prices are showing signs of recovery in 2024 after a period of turbulence due to geopolitical issues and a weak demand side. The EIA forecasts an increase in natural gas supply and demand, with exports driving demand growth. This rebound is positive for natural gas producers like Chevron Corp (CVX), BP PLC (BP), Shell PLC (SHEL), EQT Corp (EQT), and APA Corp (APA), as well as for natural gas ETFs such as the United States Natural Gas Fund LP (UNG) and the ProShares Ultra Bloomberg Natural Gas ETF (BOIL), which have seen significant declines over the past year.

Portfolio Pulse from Surbhi Jain

January 17, 2024 | 4:34 pm

Energy company stocks are trading lower due to an increase in the value of the US dollar, which can make dollar-denominated commodities like oil more expensive for foreign buyers, potentially reducing demand.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 8:14 pm

EQT Corporation has entered into a 15-year tolling agreement with Texas LNG to produce 500,000 tons per annum of liquefied natural gas (LNG). This long-term contract signifies a commitment to LNG production and may influence EQT's production strategies and financial outlook.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:16 pm

Wall Street analysts have updated their price targets and ratings for several companies. Jefferies upgraded Anheuser-Busch (BUD) and raised its target. Telsey Advisory increased Urban Outfitters' (URBN) target, maintaining an Outperform rating. Goldman Sachs downgraded Etsy (ETSY) and cut its target. Mizuho raised EQT Corporation's (EQT) target, maintaining a Buy rating. Needham increased ACM Research's (ACMR) target, maintaining a Buy rating. RBC Capital upgraded Duke Energy (DUK) and raised its target. JP Morgan upgraded Raymond James Financial (RJF) and increased its target. Citigroup downgraded Charles Schwab (SCHW) and cut its target. Raymond James raised Lululemon's (LULU) target, maintaining an Outperform rating. Goldman Sachs downgraded Mercury Systems (MRCY) and cut its target.

Portfolio Pulse from Avi Kapoor

January 10, 2024 | 12:53 pm

Mizuho analyst Nitin Kumar has reaffirmed a Buy rating on EQT Corporation (NYSE:EQT) and increased the price target from $47 to $52.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 11:01 am

Southwestern Energy Co. (SWN) and Chesapeake Energy Corp. (CHK) are reportedly close to finalizing a merger to create a $17 billion natural gas giant. The merger could make the combined entity one of the largest gas producers in the U.S. Southwestern's stock rose over 7%, and Chesapeake's shares gained over 2% following the news. The merger is part of a trend of energy industry consolidations, with recent deals involving Exxon Mobil (XOM), Chevron (CVX), and Occidental Petroleum (OXY).

Portfolio Pulse from Rounak Jain

January 06, 2024 | 2:30 am

EQT Corporation is reportedly planning to sell minority interests in wells within Pennsylvania's Marcellus shale region, with a potential value exceeding $3 billion. The company is working with an investment bank to auction these non-operating interests. EQT, which holds a 25% non-operating interest in assets operated by Chesapeake Energy Corporation, is looking to divest these stakes as part of its debt reduction strategy. As of September 30, 2023, EQT's total and net debt stood at $5.9 billion. EQT shares saw a premarket increase of 1.18% to $37.70.

Portfolio Pulse from Nabaparna Bhattacharya

December 14, 2023 | 2:25 pm

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