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EQT Corp
NYSE:EQT

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EQT Corp Logo
EQT Corp
NYSE:EQT
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Price: 36.56 USD 1.36% Market Closed
Updated: Mar 28, 2024

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%.

Key Points:
EQT Intrinsic Value
Base Case
52.56 USD
Undervaluation 30%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
EQT Corp

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Fundamental Analysis

EQT Projects Substantial Free Cash Flow
2023-Q4 Earnings Call

EQT Projects Substantial Free Cash Flow

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.

Financials

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
Efficiency

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

Last Value
3-Years Average
FCF Margin
Conversion Rate
History
Components
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What is Free Cash Flow?
Fundamental Scores

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.

Positive Free Cash Flow
Exceptional 3-Years Revenue Growth
ROE is Increasing
ROIC is Increasing
51/100
Profitability
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.

Low D/E
Long-Term Solvency
High Interest Coverage
Short-Term Solvency
49/100
Solvency
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

Wall Street analysts forecast EQT stock price to rise over the next 12 months.

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.

Lowest
Price Target
30.3 USD
17% Downside
Average
Price Target
44.74 USD
22% Upside
Highest
Price Target
54.6 USD
49% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Ownership

EQT Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
Why is insider trading important?

Shareholder Return

EQT Price
EQT Corp

1M 1M
0%
6M 6M
-10%
1Y 1Y
+19%
3Y 3Y
+95%
5Y 5Y
+84%
10Y 10Y
-28%
Annual Price Range
36.56
52w Low
30.76
52w High
44.57
Price Metrics
Average Annual Return 22.9%
Standard Deviation of Annual Returns 50.07%
Max Drawdown -77%
Shares Statistics
Market Capitalization 15.4B USD
Shares Outstanding 440 720 992
Percentage of Shares Shorted 4.33%

EQT Return Decomposition
Main factors of price return

What is price return decomposition?

EQT News

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Last Important Events
EQT Corp

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Sentiment Analysis
EQT Corp

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Company Profile

EQT Corp Logo
EQT Corp

Country

United States of America

Industry

Energy

Market Cap

15.4B USD

Dividend Yield

1.78%

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

PENNSYLVANIA
Pittsburgh
625 Liberty Ave Ste 1700
+14125535700.0
https://www.eqt.com/

IPO

1950-06-05

Employees

693

Officers

President, CEO & Director
Mr. Toby Z. Rice
Director
Mr. Daniel Joseph Rice IV
Chief Information Officer
Mr. Richard Anthony Duran
Executive VP, General Counsel & Corporate Secretary
Mr. William E. Jordan
Chief Human Resources Officer
Ms. Lesley Evancho
Chief Financial Officer
Mr. Jeremy T. Knop
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Chief Accounting Officer
Mr. Todd M. James
Managing Director of Investor Relations & Strategy
Mr. Cameron Jeffrey Horwitz C.F.A.
Executive Vice President of Corporate Ventures
Mr. Robert R. Wingo
Show Less

See Also

Discover More
What is the Intrinsic Value of one EQT stock?

The intrinsic value of one EQT stock under the Base Case scenario is 52.56 USD.

Is EQT stock undervalued or overvalued?

Compared to the current market price of 36.56 USD, EQT Corp is Undervalued by 30%.