Key Takeaways EQT will pay approximately $5.5 billion for midstream natural gas infrastructure provider Equitrans Midstream, its former unit, as it expands its reach into the natural gas sector. The acquisition gives Equitrans investors 0.3504 share of EQT stock for every share they hold. EQT said the deal creates "America's first large-scale integrated natural gas producer." EQT was the worst-performing stock in the S&P 500 on Monday, down 8.2% in early-afternoon trading. EQT Corp. (EQT) was the worst-perf ...

Natural gas producer EQT (EQT -8.44%) has a deal in place to buy pipeline operator Equitrans Midstream (ETRN 1.84%) for $5.5 billion, bringing a former subsidiary back in-house. Investors reacted by sending shares of EQT down about 7% as of 10:18 a.m. ET. A "transformational" acquisition EQT is a natural gas production company focused on the Appalachian Basin, including the Marcellus shale basin. In 2018, the company spun its pipeline operations out as an independent business under the watchful eye of activ ...

EQT President and CEO Toby Z. Rice stated, "Equitrans is the most strategic and transformational transaction EQT has ever pursued, and we see this as a once in a lifetime opportunity to vertically integrate one of the highest quality natural gas resource bases anywhere in the world. As we enter the global era of natural gas, it is imperative for U.S. natural gas companies to evolve their business models to compete on the global stage against vertically integrated rivals. We have identified multiple, high co ...

EQT Corporation (EQT) closed the latest trading day at $37.59, indicating a -1.05% change from the previous session's end. This change lagged the S&P 500's daily gain of 0.51%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq gained 0.58%. Shares of the company have appreciated by 10.98% over the course of the past month, outperforming the Oils- Energy sector's gain of 4.16% and the S&P 500's gain of 2.94%. Analysts and investors alike will be keeping a close eye on the performance of EQT Cor ...

PITTSBURGH, March 4, 2024 /PRNewswire/ -- EQT Corporation (NYSE: EQT) ("EQT" or the "Company") today announced it made the strategic decision to curtail approximately 1 Bcf per day of gross production beginning in late February in response to the current low natural gas price environment resulting from warm winter weather and consequent elevated storage inventories. The Company expects to maintain this curtailment through the month of March and will reassess market conditions thereafter. Curtailments are ex ...

EQT Corporation (EQT) closed the latest trading day at $37.15, indicating a +1.56% change from the previous session's end. This move outpaced the S&P 500's daily gain of 0.52%. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, added 0.9%. The company's shares have seen an increase of 3.33% over the last month, surpassing the Oils-Energy sector's gain of 0.88% and falling behind the S&P 500's gain of 3.85%. Market participants will be closely following the financial results of EQT Corporat ...

分组1 - EQT自上次覆盖以来的表现与公司长期增长前景和宏观/产业供需动态的观点一致，建议当前价格买入[1] - EQT在过去一年中股价从$31.31上涨至$44.22，但目前回落至$34.10，总回报率为10.74%[2] 分组2 - EQT报告的季度收入超过预期，每股收益超过$0.01，收入达到$20.4亿，同比下降41.4%，季度产量增长23%[3] 分组3 - EQT收购Tug Hill和Xcl的总成本估计为$52亿，这一收购将有助于降低成本曲线，扩大优质的Appalachian上游和中游资产[4]

Investor Presentation Fourth Quarter and Full Year 2023 Results ...

财务数据和关键指标变化 - 2023年第四季度销售量为564 Bcfe,接近指导范围的高端 [24] - 每单位调整后营业收入为2.75美元/Mcfe,总单位营业成本为1.27美元/Mcfe,处于指导范围的低端 [24] - 2023年全年资本支出为5.39亿美元,在指导范围的较低一半 [25] - 2023年末证实储量为27.6万亿立方英尺,较2022年增加2.6万亿立方英尺,主要来自Tug Hill收购 [14] 各条业务线数据和关键指标变化 - 2023年第四季度乙烷产量低于预期,而其他天然气液体价格高于预期 [84][85] 各个市场数据和关键指标变化 - 2023年第四季度阿巴拉契亚地区基差较高,主要由于东部储气量较高以及多个运营商完成了之前推迟的井的投产 [44] - 预计未来几年该地区天然气需求将增加,主要来自于电力行业,这将为公司带来定价优势 [45] 公司战略和发展方向及行业竞争 - 公司将继续优先偿还债务,直至达到35亿美元的目标总债务水平 [28] - 公司将投资2亿至3亿美元用于中游和水基础设施等战略性增长项目,这些项目具有高回报率 [29][30][31][32] - 公司认为未来天然气价格可能在2美元或4美元之间波动,因此将保持灵活的生产计划以应对价格波动 [111][112][113][114] 管理层对经营环境和未来前景的评论 - 管理层认为未来10年天然气在满足电力需求和能源转型中的作用将越来越重要,公司有能力满足这一需求 [10][11][12] - 管理层预计未来5年内公司将产生近90亿美元的自由现金流,这在行业内处于领先地位 [21][22] - 管理层认为公司的低成本优势将使其在任何价格环境下都能生存并获得收益 [47][48][49][50] 问答环节重要的提问和回答 问题1 **Arun Jayaram 提问** 询问2024年至2028年公司的资本支出计划以及中游业务的投资情况 [53][54] **Jeremy Knop 回答** - 公司预计未来5年每年将投资1.5亿至3亿美元用于中游和水基础设施等战略性增长项目 - 这些项目具有高自由现金流收益率,有助于降低上游业务的成本 [54][55] 问题2 **John Abbott 提问** 询问公司未来天然气价差的预期以及支撑该预期的因素 [72][73] **Jeremy Knop 回答** - 公司预计未来几年天然气价差将从目前的0.60美元下降至0.50美元 - 主要由于MVP管道的投产以及区域内需求的增加,特别是电力行业的需求增加 [73] 问题3 **Kevin MacCurdy 提问** 询问公司液体产品的产量和定价情况 [84][85] **Jeremy Knop 回答** - 第四季度乙烷产量低于预期,主要由于Shell乙烷裂化厂投产延迟 - 其他天然气液体产品的定价主要基于当地指数 [85]

财务表现 - EQT公司2023年第四季度调整后的每股收益为48美分，与Zacks Consensus Estimate一致[1] - 调整后的营业收入从去年同期的13.2亿美元增至15.5亿美元，超过Zacks Consensus Estimate[2] - EQT公司2023年第四季度调整后的经营现金流为7.746亿美元，高于去年的6.218亿美元[11] 销售数据 - 销售量增加，推动了强劲的季度业绩[2] - 天然气销售量为532.8亿立方英尺，高于去年同期的435.3亿立方英尺[4] - 总液体销售量为5,185千桶，低于预期的5,480.8千桶[5] 价格趋势 - 平均实现价格为每千立方英尺2.75美元，低于去年同期的2.87美元[6] - 天然气销售价格为每千立方英尺3.04美元，低于去年同期的6.63美元[7] 成本情况 - 总运营费用为2023年第四季度13.2亿美元，高于去年同期的11.6亿美元[9] - 总资本支出为2023年第四季度5.385亿美元，高于去年的3.981亿美元[12] 未来展望 - EQT公司预计2024年总销售量为2,200-2,300 Bcfe，较2023年的2,016 Bcfe有所增加[13]