EQT Corporation (EQT)

Over the past six months, EQT's stock price has been influenced by several events. In April 2025, UBS revised EQT's price target downwards, and Morgan Stanley downgraded EQT, contributing to a stock price decrease. In July 2025, EQT reported strong second-quarter results, updated its 2025 guidance, increasing annual production and lowering per-unit operating costs. The ongoing integration and synergy capture from the Equitrans acquisition continued to be a relevant factor. In August 2025, EQT highlighted strong production, below-budget capital spending, and continued deleveraging, and completed the acquisition of Olympus Energy. Analyst ratings in August saw B of A Securities, UBS and Scotiabank raising its price target, while Melius Research initiated coverage with a "Buy" rating and Roth Capital downgraded EQT to "Neutral". In September 2025, EQT completed public offerings related to its portfolio companies and signed 20-year Sale and Purchase Agreements with Commonwealth LNG and NextDecade Corporation. In October 2025, EQT scheduled its Q3 2025 earnings release and conference call, and its shares benefited from a rebound in natural gas prices and positive industry recognition.

Demand for EQT Corp.'s products, primarily natural gas, exhibits seasonality, with higher demand typically observed during winter periods. EQT strategically increases its production during these times to capitalize on stronger winter pricing. The company anticipates that natural gas demand growth will remain robust, even in the face of a potential recession, driven by factors such as US LNG facilities operating at full capacity and sustained industrial demand. The macroeconomic environment is strengthening for EQT due to increasing domestic gas demand, including from data centers, and the ongoing need for European countries to replenish their gas reserves before winter.

EQT Corporation operates as a vertically integrated natural gas company, focusing on production, gathering, and transmission in the Appalachian Basin. It operates in the Energy and Utilities sector, specifically within the Petroleum industry, with a core focus on Natural Gas Production. EQT's major products include natural gas, natural gas liquids (NGLs), and oil, and it manages significant pipeline infrastructure and holds an investment in the Mountain Valley Pipeline (MVP). EQT's products and services cater to various industries requiring energy solutions, including utilities and industrial sectors.

EQT Corp.'s operations are primarily located in the Appalachian Basin, with a significant presence in Pennsylvania, West Virginia, and Ohio in the United States. The company is headquartered in Pittsburgh, Pennsylvania.

In the past year, EQT Corporation has actively enhanced its brand reputation through significant environmental, social, and governance (ESG) achievements. The company published its 2024 ESG Report, highlighting its transformative progress. EQT became the world's first large-scale traditional energy company to achieve net-zero Scope 1 and 2 greenhouse gas emissions across its upstream operations, ahead of its 2025 goal. It also achieved a 67% reduction in Scope 1 GHG emissions since 2018 and increased its produced water recycling rate from 81% in 2019 to 96% in 2024. For the third consecutive year, EQT received the "Gold Standard" rating from the United Nations' Oil & Gas Methane Partnership (OGMP) 2.0, recognizing its ambitious methane reduction efforts. EQT was also the first independent, domestic operator to sign the Oil and Gas Decarbonization Charter at the 28th United Nations Climate Change Conference (COP28). The company has been recognized as a National Top Workplace for four consecutive years (2021-2024), reflecting its commitment to an inclusive, ownership-driven culture.

EQT Corporation's ownership is primarily institutional, with institutional investors holding approximately 79.16% to 89.15% of the company's stock. Major institutional owners include Vanguard Group Inc, BlackRock, Inc., Wellington Management Group Llp, State Street Corp, Morgan Stanley, Capital International Investors, Geode Capital Management, Llc, and Price T Rowe Associates Inc /md/. Other significant institutional holders are Vanguard Index Funds, SPDR, iShares, Vanguard Fenway Funds, Fidelity Concord Street Trust, Vanguard Wellington Fund, Steve Mandel, Hartford Mutual Funds, Inc., and Invesco. Insiders hold a smaller portion, ranging from approximately 0.70% to 12.23% of the stock, with S. Wil Vanloh Jr. identified as the largest individual shareholder.