Company Overview - EQT Corporation is headquartered in Pittsburgh, PA, and is primarily engaged in the exploration and production of natural gas, focusing on the Appalachian Basin, which includes Ohio, Pennsylvania, and West Virginia [11] - EQT is recognized as the largest natural gas producer in the domestic market based on average daily sales volumes [11] Investment Potential - EQT is currently rated as a 3 (Hold) on the Zacks Rank, with a VGM Score of A, indicating strong potential for growth [12] - The company is projected to experience significant year-over-year earnings growth of 116.2% for the current fiscal year, making it an attractive option for growth investors [12] - Recent analyst revisions show three analysts have increased their earnings estimates for fiscal 2025, with the Zacks Consensus Estimate rising to $3.48 per share [12] - EQT has demonstrated an average earnings surprise of 62.9%, further highlighting its potential for positive performance [12] Summary of Style Scores - EQT holds a Growth Style Score of A, indicating strong future prospects and financial health [12] - The combination of a solid Zacks Rank and top-tier Growth and VGM Style Scores positions EQT as a noteworthy candidate for investors [13]

Group 1: Stock Performance - EQT Corporation's shares have increased by 24.6% over the past six months, outperforming the oil-energy sector's decline of 15.6% and the Zacks S&P 500 composite's decline of 0.9% [1][5] - The company has a market capitalization of $32.3 billion [1] Group 2: Earnings and Revenue Growth - The Zacks Consensus Estimate for EQT's 2025 earnings per share indicates a year-over-year increase of 116.2%, with revenues expected to reach $8.1 billion, suggesting a 32.4% year-over-year improvement [2][5] - Long-term earnings growth is projected at 46.3%, significantly higher than the industry average of 16.9% [2] Group 3: Valuation Metrics - The average price target for EQT shares, based on 21 analysts, is $60.14, indicating an 11.4% upside from the last closing price [3] - EQT's price-to-book ratio stands at 1.36X, which is a deep discount compared to the industry average of 3.28X [5][7] Group 4: Operational Strengths - EQT is the largest natural gas producer in the U.S., focusing on the Appalachian Basin and employing advanced technologies like horizontal drilling [8] - The company has untapped premium oil and natural gas drilling locations, contributing to a positive production outlook [8] Group 5: Acquisition and Financial Performance - EQT's $1.8 billion acquisition of Olympus Energy is expected to yield a 15% unlevered free cash flow yield and a 3.4X adjusted EBITDA multiple over 2025-2027 [9] - In Q1 2025, EQT generated over $1.04 billion in free cash flow, nearly double that of its closest peer, showcasing its strong cost structure and operational efficiency [12] Group 6: Credit Ratings and Debt Management - EQT holds investment-grade credit ratings from S&P and Fitch with a stable outlook [13] - The company is actively working to reduce its debt burden, targeting a long-term debt range of $5-7 billion [13]

Key Takeaways EQT signs 10-year supply deals totaling 1.2 Bcf/d with Duke and Southern starting in 2027. EQT will reroute gas from Tetco M-2 to premium Transco hubs, improving its realized prices by 2028. The deals leverage EQT Mountain Valley Pipeline and aid utilities shift to gas for AI power needs.EQT Corporation (EQT) , the second-largest U.S. natural gas producer, has finalized two significant long-term gas supply agreements with major southeastern utilities, Duke Energy Corporation (DUK) and The So ...

Company Overview - EQT Corporation is headquartered in Pittsburgh, PA, and is primarily engaged in the exploration and production of natural gas, focusing on the Appalachian Basin, which includes Ohio, Pennsylvania, and West Virginia [11] - EQT is recognized as the largest natural gas producer in the domestic market based on average daily sales volumes [11] Investment Ratings - EQT is currently rated as a 3 (Hold) on the Zacks Rank, with a VGM Score of A [12] - The company has a Momentum Style Score of A, indicating strong performance, with shares increasing by 12.3% over the past four weeks [12] Earnings Estimates - In the last 60 days, three analysts have revised their earnings estimates higher for fiscal 2025, with the Zacks Consensus Estimate increasing by $0.03 to $3.47 per share [12] - EQT has demonstrated an average earnings surprise of 62.9%, suggesting strong performance relative to expectations [12] Investment Potential - With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, EQT is recommended for investors' consideration [13]

Core Viewpoint - EQT Corporation's shares have increased by approximately 14.3% over the past month, outperforming the S&P 500, raising questions about the sustainability of this positive trend leading up to the next earnings release [1] Estimates Movement - Consensus estimates for EQT have trended downward over the past month, with a shift of -7.2% noted [2] VGM Scores - EQT currently holds a strong Growth Score of A, but lags in Momentum Score with a C, and has a Value Score of C, placing it in the middle 20% for this investment strategy; the overall aggregate VGM Score is B, which is relevant for investors not focused on a single strategy [3] Outlook - The downward trend in estimates indicates a negative shift, with EQT holding a Zacks Rank of 3 (Hold), suggesting an expectation of in-line returns in the coming months [4]

Group 1: Oil Market Overview - Oil prices have been volatile, influenced by geopolitical tensions and bearish crude data from the U.S. West Texas Intermediate (WTI) crude is down 0.7% at $61.62, contributing to a 14.3% year-to-date deficit [1] - The market is reacting to reports of Israel preparing to strike Iran, which has added to the volatility [1] Group 2: Company Performance - EQT Corp (NYSE:EQT) reached an 11-year high of $57.37, currently down 0.3% at $55.96, with a year-over-year increase of 35.7% and a year-to-date increase of 21.5% [2] - TotalEnergies SE (NYSE:TTE) is down 0.3% at $59.21, facing resistance at the $60 level and its 160-day moving average, but is still up 8.7% year-to-date [3] - Diamondback Energy Inc (NASDAQ:FANG) hit a two-year low of $114.00, currently down 0.8% at $137.22, and has decreased 16.2% year-to-date [4]

Group 1 - The offering resulted in aggregate gross proceeds of approximately USD 557.0 million, with EQT receiving around USD 239.6 million from the sale of shares [1] - EQT sold approximately 6.2 million shares in the offering and now holds approximately 32.6 million shares of Waystar Holding Corp [1] - The offering included the full exercise of the underwriters' option to purchase approximately 1.9 million additional shares of common stock [1] Group 2 - The offering was managed by J.P. Morgan, Goldman Sachs & Co. LLC, and Barclays as joint book-running managers [1] - The completion of the offering for the base shares occurred on May 16, 2025, while the additional shares were completed on May 20, 2025 [1] - Waystar Holding Corp. did not sell any shares in the offering and did not receive any proceeds from the sale [1]

Core Viewpoint - EQT Corporation has experienced a significant share price increase of 33.2% over the past year, outperforming the broader Oils-Energy sector, which saw a decline of 7.8% during the same period [1][2]. Company Performance - EQT has outperformed its peers, Range Resources Corporation and Antero Resources Corporation, with their shares rising only 12% and 3.3%, respectively, in the same timeframe [2]. - EQT currently holds a Zacks Rank 3 (Hold), indicating a neutral outlook on the stock [2]. Operational Focus - EQT is primarily engaged in the exploration and production of natural gas, focusing on the productive Appalachian Basin in the U.S. The company has several untapped drilling locations in this region, which supports a positive production outlook [5]. Positive Factors Boosting Performance - **Rising Demand for Natural Gas**: The demand for natural gas is expected to increase by 4% to 116 billion cubic feet per day (Bcf/d) in the U.S. this year, benefiting EQT [7]. - **Increase in Natural Gas Prices**: Henry Hub spot natural gas prices rose to $4.15 per million British thermal units (Btu) in Q1 2025 from $2.13 in Q1 2024, indicating a significant year-over-year increase [8]. - **Strategic Acquisitions**: EQT's acquisition of Olympus Energy's assets for $1.8 billion includes 90,000 net acres in Southwest Appalachia, enhancing its production capabilities [9][10]. - **Operational Synergies**: The company has achieved approximately $360 million in annual savings from its acquisition of Equitrans Midstream, surpassing previous forecasts [11]. Industry Context - The growing development of gas-fired power plants and data centers in the Appalachian region is expected to further boost demand for natural gas [6]. - Antero Resources and Range Resources also carry a Zacks Rank 3, indicating a similar neutral outlook in the industry [16]. Final Thoughts - EQT benefits from rising natural gas demand, healthy prices, and strategic acquisitions, but faces risks from its hedging strategy and regional concentration. The increasing shift toward renewable energy also poses long-term challenges [15].

Group 1 - The sale of approximately 3.2 million shares of Kodiak Gas Services, Inc. resulted in gross proceeds of around USD 116 million [1] - The sale was executed on May 12, 2025, under Rule 144 of the Securities Act of 1933, with J.P. Morgan Securities LLC acting as the broker [1] - Concurrently, Kodiak Gas Services repurchased approximately 278,000 shares from EQT for gross proceeds of about USD 10 million [1] Group 2 - Following these transactions, EQT now holds approximately 31.3 million shares of Kodiak Gas Services' common stock [1]

Core Viewpoint - EQT Group is actively recruiting in Japan, anticipating that the country may become its largest market in Asia over the next five years [1] Group 1: Company Strategy - EQT Group has entered the Japanese market since 2021 and has made two investments in the country [1] - The company plans to expand its teams in private equity, infrastructure, and real estate in Japan [1] Group 2: Investment Activity - EQT Group's notable investment includes the acquisition of the education company Benesse for $1.4 billion, scheduled for 2024 [1]