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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 published its 2021 Environmental, Social, and Governance (ESG) Report, showcasing progress toward net zero Scope 1 and 2 greenhouse gas emissions by or before 2025. The company has achieved a 36% reduction in GHG emissions compared to 2018, with a focus on reducing methane emissions. EQT emphasizes natural gas's role in addressing climate change, advocating for its use over coal for energy security. The report highlights substantial royalty payments to landowners and local community investments totaling over $28 million in 2021.
EQT Corporation reported its Q1 2022 financial results, showcasing a sales volume of 492 Bcfe and net cash from operations of $1,021 million. The company achieved adjusted net income of $334 million and free cash flow of $580 million. Notably, EQT repaid $569 million in senior notes and repurchased 8.5 million shares for $200 million. The positive outlook includes an increase in the free cash flow forecast to $2.35 billion, driven by rising natural gas prices and strategic capital management.
EQT Corporation (NYSE: EQT) announced a quarterly cash dividend of $0.125 per share, set to be paid on June 1, 2022. Shareholders must be on record by the close of business on May 11, 2022. The company emphasizes its commitment to responsible natural gas production in the Appalachian Basin, focusing on operational efficiency and sustainability.
EQT Corporation (NYSE: EQT) is set to announce its first-quarter financial and operating results on April 27, 2022, following market close. A conference call for analysts will take place on April 28, 2022, at 10:00 a.m. ET, covering these results along with other pertinent matters. Investors can access the live audio webcast through EQT's investor relations website, with a replay available for seven days post-call. This event underscores EQT's ongoing commitment to transparency and stakeholder engagement.
EQT Corporation (NYSE: EQT) achieved investment grade credit ratings from Standard & Poor's and Fitch Ratings, both upgrading its rating to BBB- with a stable outlook. This milestone is expected to enhance liquidity and lower interest expenses, positioning EQT to benefit from the growing LNG market. As part of its capital allocation strategy, EQT plans to eliminate all outstanding 2022 senior note maturities, contributing to a goal of $1.5 billion in debt reduction by the end of 2023. CEO Toby Rice emphasized the significance of the ratings for the company's balance sheet and sustainability efforts.
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.