EQT Corp

EQT Corp

EQT

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Market Cap$33.33B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
EQT CorpEQT Corp11.71.22%11%3.80.2

Earnings Call Q2 2026

July 22, 2026 - AI Summary

Q2 performance: strong outperformance vs guidance + raised 2026 production - EQT delivered “powerful demonstration” of its integrated platform; volumes came in well above the high end of guidance. - Key driver: base production strength linked to midstream compression projects (extending flat times on new wells and shallower base declines on older wells), exceeding even the upside forecast. - Operational superlatives: longest shale lateral on record >29k feet, plus new basin 24-hour and EQT 48-hour drilling records, and zero safety incidents. - Forecast change: raised 2026 production guidance by ~90 Bcfe (midpoint) and lowered full-year CapEx by $25m (per prepared remarks).
Free cash flow and shareholder returns: ~$330m Q2 FCF + countercyclical buyback plan - ~$330 million of free cash flow attributable to EQT in Q2 despite natural gas averaging ~$2.89/MMBtu—positioned as evidence EQT is low-cost vs peers. - CFO/CEO emphasis: improving balance sheet and capital efficiency → enables returns even in lower-price environments. - Buybacks: management intends to be aggressive during episodic down cycles and countercyclical rather than “procyclical.” - Cash level stance (surprising/important): CEO said EQT may accumulate up to a few billion dollars of cash at certain points in the cycle, but with current stock weakness they’d lean more aggressively toward buybacks (rather than simply stockpiling cash).
Capital allocation & major infrastructure acceleration: MVP Southgate pulled into 2026 - FERC authorization received for MVP Southgate (and “all key regulatory approvals now in hand”). - EQT decision: accelerate construction timing into 2026 to “derisk execution.” - Pull-forward of ~$85m of capital contributions to equity-method investments from 2027 into 2026. - Strategic point: MVP Southgate and MVP Boost were not included in original Equitrans underwriting case, implying upside beyond prior assumptions; it provides market access to connect Appalachian supply to fast-growing Carolinas demand.

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$72.00

Target Price by Analysts

35.1% upsideEQT Target Price DetailsTarget Price
$201.72

Current Fair Value

278.6% upside

Undervalued by 278.6% based on the discounted cash flow analysis.

Share Statistics

Market cap$33.33 Billion
Enterprise Value$38.87 Billion
Dividend Yield$0.65 (1.22%)
Earnings per Share$3.33
Beta0.55
Outstanding Shares625,549,000

Return

Return on Equity11.28%ROE
Return on Assets6.89%
Return on Invested Capital10.09%

Valuation & Multiples

P/E Ratio11.71P/E Ratio
PEG-18.27PEG
Price to Sales3.81Price to Sales
Price to Book Ratio1.16Price to Book Ratio
Enterprise Value to Revenue4.19
Enterprise Value to EBIT9.74
Enterprise Value to Net Income13
Total Debt to Enterprise0.15
Debt to Equity0.22Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 28, 2026
EPS Estimate
$0.53
Average shareholder expectation
Revenue Estimate
$1.81 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 20, 2026
EPS Estimate
$0.54
Average shareholder expectation
Revenue Estimate
$1.93 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000 97.30%
Total Calls- 100.00%
Total Puts5,200 99.94%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %3.99% 88.10%
Total Invested$1.32B 96.39%
Investors Holding413 811.00%

ESG Score

No data

About EQT Corp

CEO: Toby Rice

Relevant Senate Committees

Joint Committee on Taxation

This committee provides the official 'revenue estimates' and technical expertise for all tax legislation. Its analysis directly influences the specifics of tax policy, corporate tax structures, and capital investment credits, which are crucial for EQT's financial planning and operational costs.

Finance

As the most powerful economic committee, it controls taxation and trade policy. Changes in corporate tax rates, deductions for energy companies, or trade policies related to energy exports directly impact EQT's profitability, investment decisions, and overall valuation.

Agriculture, Nutrition, and Forestry

This committee oversees the CFTC, which regulates the massive derivatives and futures markets. These markets are critical for oil and natural gas companies like EQT for hedging price risk and for the sale of their products, making its regulatory decisions highly impactful.

Energy and Natural Resources

This committee directly oversees national energy policy, public lands (for leasing and drilling permits), and the Department of Energy. Its decisions on leasing regulations and energy development are central to the valuation and operational scope of oil and gas companies like EQT.

Environment and Public Works

This committee directly regulates the EPA, which sets environmental standards (emissions, water quality, land use) critical for oil and gas extraction. It also oversees federal highway programs and infrastructure, which can impact the transportation and logistics for EQT's products.