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EQT Corporation (NYSE: EQT) is a leading independent natural gas producer in the United States. Operating primarily in the cores of the Marcellus and Utica Shales within the Appalachian Basin, EQT focuses on responsible and efficient development of its world-class asset base. The company’s operations span across Pennsylvania, West Virginia, and Ohio. EQT's commitment to environmental sustainability and operational efficiency positions it as a key player in producing environmentally responsible, reliable, and low-cost energy.
EQT employs advanced technology and combo-development projects to maximize the efficiency of its multiwell pads. With a strong emphasis on sustainable practices, the company is dedicated to reducing its environmental footprint and enhancing the safety of its employees, contractors, and local communities. EQT’s customer base includes marketers, utilities, and industrial operators primarily within the Appalachian Basin.
In recent achievements, EQT has executed significant strategic acquisitions, such as the integration of Tug Hill and XcL Midstream assets, which has enabled the company to lower operational costs and enhance production capacity. Furthermore, the company recently announced a public offering of $750 million in senior notes to refinance existing debt, showcasing its robust financial strategy.
EQT’s financial performance has been strong, with significant free cash flow generation even amidst fluctuating natural gas prices. The company reported a substantial increase in proved reserves, primarily from the Marcellus Shale. The ongoing acquisition of Equitrans Midstream Corporation is set to create a premier vertically integrated natural gas business, further enhancing EQT’s operational capabilities and market positioning.
The company’s recent decisions, such as the temporary production curtailment in response to market conditions and strategic divestitures, reflect EQT’s adaptive approach to market dynamics. With substantial liquidity and a firm commitment to operational excellence, EQT is well-positioned to continue delivering long-term value to its stakeholders.
EQT Corporation (NYSE: EQT) has launched a new plan aimed at promoting U.S. LNG to replace international coal and support climate initiatives. This announcement coincided with CERAWeek 2022, where EQT's CEO, Toby Z. Rice, advocated for leveraging U.S. natural gas to combat global emissions, claiming it could replace up to one-third of international coal usage over the next 20 years. Key highlights include the potential to achieve a 60% emissions reduction through coal-to-gas switching and a strategy to increase LNG capacity significantly by 2030.
EQT Corporation reported strong financial and operational results for Q4 and full year 2021, highlighting a net income of $1.8 billion for Q4, compared to $64 million in 2020. Total sales volume was 527 Bcfe, with a free cash flow of $422 million. The company reinstated its annual cash dividend at $0.50 per share and initiated a $1 billion share repurchase program. For 2022, EQT expects sales volumes between 1,950 - 2,050 Bcfe and a free cash flow yield of 18%-22%. The company aims to achieve net zero emissions by 2025, reflecting a commitment to sustainability.
EQT Corporation declared a quarterly cash dividend of $0.125 per share, payable on March 1, 2022. Shareholders on record as of February 14, 2022 will qualify for this dividend. This decision highlights EQT's commitment to returning value to its investors while operating in the natural gas sector, primarily in the Marcellus and Utica Shales. The company emphasizes its focus on operational efficiency and sustainability in energy production.
EQT Corporation (NYSE: EQT) announced the expiration of its tender offer to purchase up to $250 million of its 3.000% Senior Notes due 2022. The tender offer concluded on January 27, 2022, with valid tenders totaling $205,924,000 accepted prior to the early tender date of January 12, 2022, and an additional $124,000 accepted thereafter. Payments for the accepted notes are expected on January 31, 2022, with holders receiving $962.50 per $1,000 principal amount. TD Securities acted as the dealer manager.
EQT Corporation (NYSE: EQT) will release its fourth quarter and year-end 2021 financial results on February 9, 2022, after market close. A conference call will follow on February 10, 2022, at 10:00 a.m. ET, covering financial results and operational updates for 2022. Analysts will have a Q&A session post-discussion. The focus includes year-end 2021 reserves and 2022 guidance. Investors can access the live webcast on EQT's investor relations website, with a replay available for seven days.
EQT Corporation announced early results of its $250 million tender offer to purchase its outstanding 3.000% Senior Notes due 2022. As of January 12, 2022, validly tendered notes amounted to $205.9 million. Payments for accepted notes will occur on January 14, 2022, with an expected total consideration of $1,012.50 per $1,000 principal amount. The tender offer will remain open until January 27, 2022, and EQT retains the right to amend the offer at any time.
EQT Corporation has initiated a tender offer to buy back up to $250 million of its 3.000% Senior Notes due 2022, valued at $568.8 million outstanding. The offer is set to expire on January 27, 2022, with an early tender deadline on January 12, 2022. Accepted notes will receive $1,012.50 per $1,000 principal with an early tender premium of $50. Settlement for early tenders is expected by January 14, 2022. The tender offer may be subject to proration if oversubscribed.
EQT Corporation announced a $1.0 billion share repurchase program and the reinstatement of its regular quarterly dividend of $0.50 per share, starting Q1 2022. The updated long-term leverage target is set between 1.0x and 1.5x. The company projects $1.9 billion in free cash flow for 2022 and an average of $1.6 billion from 2023 through 2026, supporting strong dividend coverage and growth. EQT aims to reduce its absolute debt by at least $1.5 billion by end of 2023, enhancing financial flexibility.
EQT Corporation's President and CEO, Toby Z. Rice, addressed Senator Elizabeth Warren's concerns regarding natural gas price increases attributed to corporate greed. He stated that while prices have risen compared to the low rates of 2020, they remain below the 20-year average. Rice advocated for ramping up LNG exports as a crucial step in combating climate change, highlighting that increasing natural gas production could lead to significant emissions reductions globally. He emphasized the need for the U.S. to lead in natural gas production to replace coal power, especially in China.
EQT Corporation has launched GIVE Greene and GIVE Wetzel, two new giving programs aimed at supporting communities in Greene and Wetzel counties. Each program is seeded with a $25,000 initial donation, with community leaders overseeing fund distribution. In 2021, EQT contributed nearly $975,000 to Greene County and $500,000 to Wetzel County through various initiatives. Additionally, EQT will double match employee donations on Giving Tuesday, with last year's matching raising $110,000. The corporation is donating $32,000 to local school districts and organizations for holiday support.
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