EQT Corporation (EQT)

Over the past six months, EQT Corporation's stock has experienced a gain of 24.6%, outperforming the oil-energy sector. EQT announced the acquisition of Equitrans Midstream in March 2024, which is expected to benefit EQT's business profile but led to a negative outlook revision from S&P Global Ratings due to increased debt. EQT implemented output cuts through May 2024 due to low natural gas prices but appeared to be restoring production in May 2024. EQT reported strong financial results in the fourth quarter and full year 2024, projecting significant free cash flow for 2025 and 2026. Analysts have generally maintained a "Buy" consensus rating for EQT stock, and EQT regularly declares quarterly cash dividends.

Demand for EQT Corporation's primary product, natural gas, is seasonal, with higher demand typically occurring during colder winter months for heating purposes. EQT has demonstrated its ability to respond to seasonal demand fluctuations, increasing production during the first quarter to meet higher winter demand and take advantage of stronger pricing. The company acknowledges that natural gas markets have entered an era of heightened volatility.

EQT Corporation is a leading American energy company focused on natural gas production, gathering, and transmission. It is vertically integrated, encompassing both production and midstream operations, and is recognized as the largest natural gas producer in the United States. The company's products and services cater to various industries requiring energy solutions, including utilities and industrial sectors.

EQT's operations are concentrated in the Appalachian Basin, primarily in Pennsylvania, West Virginia, and Ohio. As of December 31, 2019, EQT held 19.802 trillion cubic feet equivalent of proved reserves across approximately 1.8 million gross acres, with a significant portion located in the Marcellus Formation. The company's midstream assets span a wide area of the Marcellus and Utica Shales in southwestern Pennsylvania and northern West Virginia.

EQT Corporation has actively pursued a positive brand image, particularly concerning environmental stewardship, while also facing challenges related to past incidents. EQT announced in October 2024 that it achieved its net-zero Scope 1 and Scope 2 greenhouse gas (GHG) emissions target ahead of its 2025 goal. EQT regularly releases ESG reports highlighting its commitment to responsible natural gas production, safety, and environmental protection. In 2023, EQT incurred $8.7 million in environmental fines related to two incidents. EQT faces ongoing legal challenges and investigations concerning water contamination, including a class-action lawsuit filed in June 2024. In 2024, EQT reported a contractor fatality.

EQT Corporation has significant institutional ownership, with 1,828 institutional owners and shareholders holding a total of 667,819,871 shares. Major institutional shareholders include Vanguard Group Inc., BlackRock, Inc., and Wellington Management Group Llp. A significant individual shareholder is S. Wil Vanloh Jr., who owns 67.89 million shares, representing 11.34% of the company.