Eqt Corp - EQT STOCK NEWS

EQT (NYSE: EQT) has announced its Board of Directors' declaration of a quarterly cash dividend of $0.1575 per share. The dividend will be paid on March 3, 2025, to shareholders who are on record at the close of business on February 18, 2025.

EQT has announced the completion of a significant stock sale involving Kodiak Gas Services (NYSE: KGS). Through an affiliate of EQT Infrastructure III and IV funds, the company sold approximately 3.7 million shares of Kodiak Gas Services common stock, generating gross proceeds of approximately USD 177 million. The transaction was executed on January 30, 2025, in accordance with Rule 144 of the Securities Act of 1933. Goldman Sachs & Co. served as the broker for this transaction.

EQT (NYSE: EQT) has announced it will release its fourth quarter and year-end 2024 financial and operating results after market close on Tuesday, February 18, 2025. The company will host a conference call to discuss the results on Wednesday, February 19, 2025, at 10:00 a.m. ET. The event will include a Q&A session for securities analysts. Investors can access the live audio webcast through EQT's investor relations website at ir.eqt.com. A replay of the conference call will be available for one year at the same location.

EQT (NYSE: EQT) has announced the completion of its sale of remaining non-operated natural gas assets in Northeast Pennsylvania to Equinor USA Onshore Properties Inc. and its affiliates. The transaction generated approximately $1.25 billion in cash proceeds, which EQT has utilized to reduce outstanding borrowings under its revolving credit facility.

EQT has successfully closed its previously announced midstream joint venture with Blackstone Credit & Insurance (BXCI). The transaction resulted in EQT receiving $3.5 billion in cash consideration, net of certain fees and expenses, in exchange for granting BXCI a non-controlling common equity interest in the JV. The proceeds were used to pay down EQT's term loan, revolving credit facility, and bridge term loan facility that funded the redemption and repurchase of certain EQM Midstream Partners, LP senior notes through a tender offer.

EQT announced that its subsidiary, EQM Midstream Partners, has increased its tender offer maximum aggregate purchase price from $1.275 billion to $1.3 billion for its outstanding senior notes. The tender offer includes the 6.500% Notes due 2048, 5.500% Notes due 2028, 4.50% Notes due 2029, and 7.500% Notes due 2030.

As of the Early Tender Date (December 9, 2024), significant portions of each note series were tendered: 85.4% of 2048 Notes, 86.0% of 2028 Notes, 94.5% of 2029 Notes, and 76.1% of 2030 Notes. Due to oversubscription, EQM will accept notes based on Acceptance Priority Procedures with varying proration factors. The Early Settlement Date is expected to be December 30, 2024.

EQM Midstream Partners, an indirect subsidiary of EQT , announces a tender offer to purchase up to $1.275 billion of its outstanding senior notes, including 6.500% Notes due 2048, 5.500% Notes due 2028, 4.50% Notes due 2029, and 7.500% Notes due 2030. The tender offer includes a consent solicitation for the 2028 and 2048 Notes to modify reporting requirements. The offer expires on December 30, 2024, with an early tender deadline of December 9, 2024. Early tendering holders will receive a premium of $50 per $1,000 principal amount. The offer will be financed through a bridge facility and is contingent on a midstream joint venture transaction with Blackstone Credit & Insurance.

EQT has announced a $3.5 billion midstream joint venture with Blackstone Credit & Insurance (BXCI). The JV includes EQT's ownership in Mountain Valley Pipeline, FERC regulated transmission and storage assets, and the Hammerhead Pipeline, with a total valuation of approximately $8.8 billion. BXCI will receive a non-controlling equity interest while EQT retains rights to growth projects. The proceeds will be used to reduce debt, with EQT expecting to exit 2024 with approximately $9 billion of net debt. Combined with recent divestitures, this brings total cash proceeds to $5.25 billion, exceeding their $3-5 billion asset sale target.

EQT reported Q3 2024 financial results and announced the sale of non-operated assets. Key highlights include: sales volume of 581 Bcfe, exceeding guidance despite 35 Bcfe of curtailments; capital expenditures of $558 million, below guidance; and integration of Equitrans Midstream being over 60% complete with $145 million in annualized base synergies. The company announced an agreement to sell remaining non-operated natural gas assets in Northeast Pennsylvania for $1.25 billion in cash. Financial results showed a net loss of $301 million compared to net income of $81 million in Q3 2023, with adjusted EPS of $0.12 versus $0.30 year-over-year.