$EQT

US Natural Gas Update: Futures Rise Amid Below Forecast Storage Injection, Drop in Output

US natural gas futures were up on Friday, after gas injection into storage fell short of forecasts, alongside a drop in output over the past week.The front-month Henry Hub natural gas contract and the continuous contract both rose 0.47% to settle at $2.78 per million British thermal units, and are set to end the week up by 3.11%, according to data from TradingEconomics.The US Energy Information Administration reported a net injection of 79 billion cubic feet into storage for the week ended April 24, bringing total gas inventories to 2,144 Bcf. While this marks a decline from 103 Bcf in injections last week, it was still higher than the five-year average of 63 Bcf.It still came in below expectations at 83 Bcf, missing forecasts and trailing last year's 88 Bcf, according to Investing.com data, which points to a bullish tilt in the report overall.Meanwhile, US natural gas production has weakened over the past week, dropping by 2 Bcf per day, with major producers such as EQT (EQT) cutting output due to low prevailing prices, according to TradingEconomics.Weather forecasts too have turned bullish, with the eastern two-thirds of the country expected to see below-normal temperatures during the first few weeks of May, according to the National Weather Service.However, this is not expected to result in incremental demand for heating gas, as normal temperatures are set to climb over the course of this month.Finally, natural gas deliveries to LNG export facilities edged higher on Friday, at 19.1 Bcf, compared to 18.81 Bcf on Thursday, according to estimates from the Bloomberg LNG Feedgas Model. However, the estimates are still below the 30-day moving average of 19.67 Bcf.Price: $58.39, Change: $-1.69, Percent Change: -2.81%

Capital One Adjusts Price Target on EQT to $68 From $64, Maintains Overweight Rating

EQT (EQT) has an average rating of overweight and mean price target of $70.91, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

US Gas Producer EQT Structurally Well-Placed to Benefit From Energy Market Crisis, RBC Says

Appalachian-focused US oil and gas producer EQT (EQT) is strategically growing its midstream capacity for 2027 and beyond and looks well-placed to benefit from market shifts amid conflict in the Middle East that has upended energy markets, RBC Capital Markets said in a research note on Sunday.RBC analysts said that although current projects total 2-3 billion cubic feet equivalent per day, management expects discussions with counterparties to lead to a production hike to between 8 and 10 billion cubic feet per day.Critically, RBC notes that EQT was an early mover versus peers to secure LNG offtake that can now deliver major value in the context of the Iran conflict.The company outperformed in Q1 leveraging the advantages of its integrated business model.Production in the first quarter was above guidance, coinciding with a peak in winter pricing, with operating expenses and capital outgoings below guidance.EQT has shown that it has an ability to identify problems across the midstream quickly, enabling its commercial team to arbitrage pricing.The company's LNG offtake strategy unsettled some investors when it was announced last year, amid fears of a gas flut, but that has become irrelevant due to conflict in the Middle East. Its offtake contracts start in 2030 and destination contracts likely come close to that timeframe, RBC said.RBC has a 'sector perform' rating on EQT and a price target of $69 versus a recent share price around $58.91.

EQT's Q1 Free Cash Flow Shows Impact of Vertically Integrated Model, Commercial Capabilities, RBC Says

EQT's (EQT) Q1 free cash flow of $1.8 billion showcases the impact of its vertically integrated model and commercial capabilities, RBC Capital Markets said in a research note.Q1 FCF allowed EQT to make progress on its debt reduction, retiring more than $1.7 billion of senior notes in the quarter, RBC said on Sunday. The company's total debt and net debt is now at $6 billion and $5.7 billion, respectively, with the $5 billion long term debt target reachable by 2026 in a $2.75/Mcf price environment, according to RBC."We think it is possible for EQT to double production over the next decade, and management is progressively working on driving in-basin demand opportunities," RBC said.RBC maintained its sector perform rating on EQT with a $69 price target.Price: $59.07, Change: $+0.16, Percent Change: +0.27%

US Natural Gas Update: Futures Rise Amid Dropping Output, Bullish Weather Forecasts

US natural gas futures witnessed a sharp rally on Monday, as falling output and bullish near-term weather forecasts provided support.The front-month Henry Hub contract, along with the continuous contract, were up 2.97% to $2.59 per million British thermal units.US domestic natural gas output is down by 4.1 billion cubic feet per day over the past 18 days, hitting an 11-week low of 108.1 bcfd, according to TradingEconomics, which attributed this to major producers such as EQT Corp. (EQT) scaling back output in response to lower prices.At the same time, imports from Canada dropped from 5.5 bcf per day, to 4.7 bcf per day, even as demand remained relatively flat at 102 bcf per day, according to NRG Energy.Meanwhile, LNG feedgas flows have continued to hover near record-highs at 18.9 bcf, with more LNG capacity set to come online over the next few months.Weather forecasts have turned bullish in recent days, with more than half of the country, across the central and eastern regions, expected to see below normal temperatures from May 4 to May 10, according to the National Weather Service.Price: $60.68, Change: $+1.77, Percent Change: +3.00%

Jefferies Adjusts Price Target on EQT to $77 From $76, Maintains Buy Rating

EQT (EQT) has an average rating of overweight and mean price target of $70.76, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

UBS Adjusts Price Target on EQT to $74 From $75, Maintains Buy Rating

EQT (EQT) has an average rating of overweight and mean price target of $70.72, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $58.45, Change: $-0.48, Percent Change: -0.81%

Research Alert: CFRA Keeps Hold Opinion On Shares Of Eqt Corp.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month target price remains $62, a combination of relative valuation and DCF models. On a relative basis, we apply a 6.2x multiple of enterprise value to projected 2027 EBITDA, above EQT's historical forward average. We think a small premium is defendable, given an improving operating cost profile. Our DCF model, using medium-term free cash flow growth of 4%, terminal growth of 2%, and WACC of 6.7%, yields a value of $70 per share. We lift our 2026 EPS estimate by $0.04 to $4.85 and 2027's by $0.01 to $4.68. Natural gas pricing has dissipated to a degree recently, leading EQT to pull back some production in Q2, but we still see modest volume growth in 2026. Longer-term growth drivers tied to data centers and liquefied natural gas export demand look intact, in our view. We think the most positive development is the improvement in free cash flow. Net debt levels are creeping closer to management's targeted levels.

Wells Fargo Adjusts Price Target on EQT to $79 From $70, Maintains Overweight Rating

EQT (EQT) has an average rating of overweight and mean price target of $70.76, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Research Alert: Eqt: A Strong Q1 Led By Better Pricing

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:EQT kicked off 2026 with a solid earnings beat, reporting adjusted EPS of $2.33 vs. $1.18, beating consensus by $0.24. The pricing environment provided significant tailwinds, with average realized prices of $5.08/Mcfe up 35% and volumes of 618 Bcfe up 8%. Growth drivers are tied to data center demand and LNG exports, with the company targeting Northern Virginia and Southeast markets for incremental data center and industrial demand. EQT guided to unchanged CY26 volume guidance of 2,275-2,375 Bcfe, though plans Q2 production cuts of 10-15 Bcfe due to recent pricing weakness with front-month Henry Hub around $2.75/Mcfe. The company plans CY 26 capex of $2.65B-$2.85B, implying 18% growth at the midpoint. Record quarterly FCF of $1.83B (up 77%) enabled further balance sheet strengthening, with net debt declining to $5.7B as EQT approaches its $5B long-term debt target. Total per-unit operating costs of $1.09/Mcfe came in below management guidance.

EQT Q1 Adjusted Earnings, Revenue Rise

EQT (EQT) reported Q1 adjusted earnings late Tuesday of $2.33 per diluted share, up from $1.18 a year earlier.Analysts surveyed by FactSet expected $2.08.Total operating revenue for the three months ended March 31 was $3.38 billion, up from $1.74 billion a year earlier.Analysts polled by FactSet expected $3.22 billion.

Stephens Adjusts Price Target on EQT to $73 From $78, Maintains Overweight Rating

EQT (EQT) has an average rating of overweight and mean price target of $69.80, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Citigroup Adjusts Price Target on EQT to $66 From $62, Maintains Buy Rating

EQT (EQT) has an average rating of overweight and mean price target of $69.42, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $57.06, Change: $-1.34, Percent Change: -2.29%

Goldman Sachs Adjusts Price Target on EQT to $65 From $68, Maintains Buy Rating

EQT (EQT) has an average rating of overweight and mean price target of $69.31, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

EQT Keeps Quarterly Dividend at $0.165 per Share, Payable June 1 to Shareholders of Record on May 6

Bernstein Cuts EQT Price Target to $69 From $73, Maintains Outperform Rating

EQT (EQT) has an average rating of overweight and mean price target of $69.42, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $58.29, Change: $-0.39, Percent Change: -0.66%

Sector Update: Energy Stocks Rise Premarket Monday

Energy stocks were rising premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.6%.The United States Oil Fund (USO) was up 6.7% and The United States Natural Gas Fund (UNG) was 1.6% higher.Front-month US West Texas Intermediate crude oil was 7.3% higher at $103.59 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 6.8% to $101.68 per barrel, and natural gas futures were up 2% at $2.70 per 1 million British Thermal Units.BP's (BP) Namibia unit agreed to acquire a 60% participating interest and operatorship across three offshore exploration licenses from the business, Eco Atlantic said. Shares of BP were up 0.8% pre-bell.Baker Hughes (BKR) shares were up more than 1% after the company said it has signed a deal to sell its Waygate Technologies operations to Stockholm-based Hexagon for about $1.45 billion in cash.EQT (EQT) and KKR (KKR) are among private equity firms showing takeover interest in PolyPeptide Group, Bloomberg News reported, citing people with knowledge of the matter. EQT stock was up more than 1% premarket.

Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Friday afternoon, with the NYSE Energy Sector Index fractionally higher and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.9%.The Philadelphia Oil Service Sector Index was shedding 0.5%, and the Dow Jones US Utilities Index was down 0.4%.In sector news, oil prices stabilized at under $100 a barrel on Friday ahead of US-Iran talks in Pakistan as markets sought clarity on whether this weekend's huddle in Islamabad could lead to a long-term peace deal. Earlier in the week, the US and Iran agreed to a two-week ceasefire, pausing a war that had spread across the Middle East and curtailed shipments through the crucial Strait of Hormuz. Oil prices on Wednesday posted their sharpest one-day pullback since 2020 after the ceasefire announcement.Front-month West Texas Intermediate crude oil fell 2.3% to $95.58 a barrel, and the global benchmark Brent crude contract shed 1.7% to $94.39 a barrel. Henry Hub natural gas futures fell 1.1% to $2.64 per 1 million BTU.In corporate news, ConocoPhillips (COP) has sent a team to Venezuela to evaluate the prospects of oil drilling in the country, the company said in an emailed statement to. ConocoPhillips shares were down 1.2%.Shell (SHEL) confirmed in an email toon Friday that it is in talks with Venezuela to produce natural gas at the Loran-Manatee offshore field, which crosses the border of Venezuela and Trinidad and Tobago. The company expects to produce gas from Manatee in 2027 but has yet to take a final investment decision on the Loran field, according to a spokesperson. Shell shares were up 1.3%.The Port of Antwerp in Belgium, which is home to European refineries operated by Exxon Mobil (XOM) and TotalEnergies (TTE), was blocked following an oil spill during a ship refueling operation, preventing large vessels from entering or leaving the port, the port authority said Friday. Exxon shares shed 0.8%, and TotalEnergies was up 2.9%.EQT (EQT) and Glencore committed to acquiring an extra 1 million metric tons of liquefied natural gas annually from Commonwealth LNG through 20-year agreements, Reuters reported, citing a regulatory document. EQT shares were down 1.4%.

Sector Update: Energy Stocks Lower Friday Afternoon

Energy stocks declined Friday afternoon, with the NYSE Energy Sector Index fractionally lower and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.8%.The Philadelphia Oil Service Sector Index was shedding 0.7%, and the Dow Jones US Utilities Index was down 0.1%.In sector news, President Donald Trump said Friday in a phone interview with the New York Post that US warships are being restocked with ammunition in order to resume strikes should peace talks with Iran falter this weekend.Front-month West Texas Intermediate crude oil was rising 0.6% to $98.39 a barrel, and the global benchmark Brent crude contract was advancing 0.7% to $96.70 a barrel. Henry Hub natural gas futures fell 0.8% to $2.65 per 1 million BTU.In corporate news, Shell (SHEL) confirmed in an email toon Friday that it is in talks with Venezuela to produce natural gas at the Loran-Manatee offshore field, which crosses the border of Venezuela and Trinidad and Tobago. The company expects to produce gas from Manatee in 2027 but has yet to take a final investment decision on the Loran field, according to a spokesperson. Shell shares were up 0.8%.The Port of Antwerp in Belgium, which is home to European refineries operated by Exxon Mobil (XOM) and TotalEnergies (TTE), was blocked following an oil spill during a ship refueling operation, preventing large vessels from entering or leaving the port, the port authority said Friday. Exxon shares fell 1.6%, and TotalEnergies was up 1.8%.EQT (EQT) and Glencore committed to acquiring an extra 1 million metric tons of liquefied natural gas annually from Commonwealth LNG through 20-year agreements, Reuters reported, citing a regulatory document. EQT shares were down 1.1%.

Sector Update: Energy Stocks Lean Lower Premarket Friday

Energy stocks were leaning lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.3%.The United States Oil Fund (USO) was down 1.3% and The United States Natural Gas Fund (UNG) was 0.2% lower.Front-month US West Texas Intermediate crude oil was 0.1% higher at $97.95 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 0.2% to $95.68 per barrel, and natural gas futures were up 0.2% at $2.68 per 1 million British Thermal Units.ConocoPhillips (COP) has sent a team to Venezuela to evaluate the prospects of oil drilling in the country, several media outlets reported, citing a company statement. Shares of ConocoPhillips were marginally higher pre-bell.Petrobras (PBR) said it signed contracts with Petronas Petroleo Brasil to acquire 50% stakes in the Tartaruga Verde and Espadarte - Module III fields in the Campos Basin offshore Brazil for $450 million, regaining full ownership in the assets. Petrobras shares were up 1% premarket.EQT (EQT) and Glencore (GLEN) committed to acquiring an extra 1 million metric tons of liquefied natural gas annually from Commonwealth LNG through 20-year agreements, Reuters reported, citing a regulatory document. EQT stock was 0.6% lower pre-bell.