EQT Corp
NYSE:EQT
Intrinsic Value
EQT Corp. is a natural gas production company engaged in the supplying, transmitting, and distribution of natural gas. [ Read More ]
The intrinsic value of one EQT stock under the Base Case scenario is 52.56 USD. Compared to the current market price of 36.56 USD, EQT Corp is Undervalued by 30%.
Valuation Backtest
EQT Corp
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Fundamental Analysis
EQT Projects Substantial Free Cash Flow
2023-Q4 Earnings Call
EQT Corporation, led by CEO Toby Rice, reflected on a year of formidable operational and financial achievements amidst a complex natural gas price environment. Setting drilling records and enhancing completion efficiency, the company pulled in $880 million of free cash flow, retired over $1.1 billion of debt, and upped the dividend by 5% in 2023. Looking ahead, EQT expects to generate nearly $9 billion in free cash over the next five years based on average natural gas prices at $3.40 per million BTU. For 2024, guided production is between 2,200 to 2,300 Bcfe, with flexible curtailing options if prices weaken. The maintenance capital is set at $1.95 to $2.05 billion, with breakeven free cash flow prices aiming towards $2.30 per million BTU. Additionally, transmission and gathering expenses are anticipated to change, with transmission expenses rising by $0.10 per Mcfe year-over-year due to MVP costs, and gathering rates reducing to $0.52-$0.54 from $0.65. These careful considerations place EQT in a strong position to navigate and capitalize on the volatile natural gas market.
Balance Sheet Decomposition
EQT Corp
Current Assets | 2B |
Cash & Short-Term Investments | 81m |
Receivables | 915.1m |
Other Current Assets | 1B |
Non-Current Assets | 23.3B |
PP&E | 23B |
Other Non-Current Assets | 273.2m |
Current Liabilities | 2B |
Accounts Payable | 1.3B |
Accrued Liabilities | 46.4m |
Other Current Liabilities | 717.9m |
Non-Current Liabilities | 8.5B |
Long-Term Debt | 5.5B |
Other Non-Current Liabilities | 3B |
Earnings Waterfall
EQT Corp
Revenue
|
6.9B
USD
|
Cost of Revenue
|
-2.4B
USD
|
Gross Profit
|
4.5B
USD
|
Operating Expenses
|
-2B
USD
|
Operating Income
|
2.5B
USD
|
Other Expenses
|
-771.7m
USD
|
Net Income
|
1.7B
USD
|
Free Cash Flow Analysis
EQT Corp
What is Free Cash Flow?
EQT Profitability Score
Profitability Due Diligence
EQT Corp's profitability score is 51/100. The higher the profitability score, the more profitable the company is.
Score
EQT Corp's profitability score is 51/100. The higher the profitability score, the more profitable the company is.
EQT Solvency Score
Solvency Due Diligence
EQT Corp's solvency score is 49/100. The higher the solvency score, the more solvent the company is.
Score
EQT Corp's solvency score is 49/100. The higher the solvency score, the more solvent the company is.
Wall St
Price Targets
EQT Price Targets Summary
EQT Corp
According to Wall Street analysts, the average 1-year price target for EQT is 44.74 USD with a low forecast of 30.3 USD and a high forecast of 54.6 USD.
Ownership
EQT Insider Trading
Buy and sell transactions by insiders
Period | Sold | Bought | Net |
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3 Months |
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6 Months |
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9 Months |
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12 Months |
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Shareholder Return
EQT Price
EQT Corp
Average Annual Return | 22.9% |
Standard Deviation of Annual Returns | 50.07% |
Max Drawdown | -77% |
Market Capitalization | 15.4B USD |
Shares Outstanding | 440 720 992 |
Percentage of Shares Shorted | 4.33% |
Company Profile
Country
Industry
Market Cap
Dividend Yield
Description
EQT Corp. is a natural gas production company engaged in the supplying, transmitting, and distribution of natural gas. The company is headquartered in Pittsburgh, Pennsylvania and currently employs 693 full-time employees. The company has approximately 25.0 trillion cubic feet equivalents (Tcfe) of proved natural gas, natural gas liquids (NGLs), and crude oil reserves across approximately 2.0 million gross acres, including approximately 1.7 million gross acres in the Marcellus play. The firm is focused on the execution of combo-development projects, which refers to the development of several multi-well pads in tandem. The company owns or leases approximately 610,000 net acres in Pennsylvania. The firm owns or leases approximately 405,000 net acres in West Virginia. The company also owns or leases approximately 65,000 net acres in eastern Ohio. The company primarily contracts with MarkWest Energy Partners, L.P. (MarkWest) to process its natural gas and extract from the produced natural gas heavier hydrocarbon streams (consisting predominately of ethane, propane, isobutane, normal butane and natural gasoline.
Contact
IPO
Employees
Officers
The intrinsic value of one EQT stock under the Base Case scenario is 52.56 USD.
Compared to the current market price of 36.56 USD, EQT Corp is Undervalued by 30%.