Bernstein raises EQT stock price target to $74, maintains Outperform

Published 23/04/2025, 13:12
Bernstein raises EQT stock price target to $74, maintains Outperform

The company’s production guidance for the year received a slight upward adjustment of approximately 1%, while capital expenditure guidance was modestly reduced by the same percentage. The analyst from Bernstein highlighted the strong financial health of the company, stating, "The engine hums..." This comment reflects the company’s ability to generate substantial earnings amidst an average Henry Hub natural gas price of $4.15 per mcf for the quarter.In setting the new price target, Bernstein applied a 5x enterprise value/EBITDA (EV/EBITDA) multiple to EQT (ST:EQTAB)’s projected 2026 EBITDA of $8.9 billion, a slight increase from the previous estimate of $8.8 billion. The price target adjustment reflects confidence in the company’s future financial performance and its ability to maintain a strong position in the natural gas market. For deeper insights into EQT’s valuation and growth prospects, including additional ProTips and comprehensive financial analysis, investors can access the detailed Pro Research Report available on InvestingPro. For deeper insights into EQT’s valuation and growth prospects, including additional ProTips and comprehensive financial analysis, investors can access the detailed Pro Research Report available on InvestingPro.

The company’s production guidance for the year received a slight upward adjustment of approximately 1%, while capital expenditure guidance was modestly reduced by the same percentage. The analyst from Bernstein highlighted the strong financial health of the company, stating, "The engine hums..." This comment reflects the company’s ability to generate substantial earnings amidst an average Henry Hub natural gas price of $4.15 per mcf for the quarter.In setting the new price target, Bernstein applied a 5x enterprise value/EBITDA (EV/EBITDA) multiple to EQT’s projected 2026 EBITDA of $8.9 billion, a slight increase from the previous estimate of $8.8 billion. The price target adjustment reflects confidence in the company’s future financial performance and its ability to maintain a strong position in the natural gas market. For deeper insights into EQT’s valuation and growth prospects, including additional ProTips and comprehensive financial analysis, investors can access the detailed Pro Research Report available on InvestingPro.

The company’s production guidance for the year received a slight upward adjustment of approximately 1%, while capital expenditure guidance was modestly reduced by the same percentage. The analyst from Bernstein highlighted the strong financial health of the company, stating, "The engine hums..." This comment reflects the company’s ability to generate substantial earnings amidst an average Henry Hub natural gas price of $4.15 per mcf for the quarter.

In setting the new price target, Bernstein applied a 5x enterprise value/EBITDA (EV/EBITDA) multiple to EQT’s projected 2026 EBITDA of $8.9 billion, a slight increase from the previous estimate of $8.8 billion. The price target adjustment reflects confidence in the company’s future financial performance and its ability to maintain a strong position in the natural gas market.

In other recent news, EQT Corporation (NYSE:EQT) reported impressive first-quarter 2025 results, surpassing analyst expectations. The company achieved an adjusted earnings per share of $1.18, exceeding the projected $0.98, and generated revenue of $2.24 billion, topping the anticipated $2.19 billion. EQT also announced a 25 Bcfe increase in its 2025 production guidance, now ranging between 2,200-2,300 Bcfe, while reducing its expected capital expenditures by $25 million to a range of $1,950-$2,070 million. In addition, EQT has entered into a definitive agreement to acquire oil and gas properties from Olympus Energy LLC, Hyperion Midstream LLC, and Bow & Arrow Land Company LLC. This transaction involves issuing over 26 million shares of EQT’s common stock and is expected to close in the third quarter of 2025, pending regulatory approval. The acquisition, valued at $1.8 billion, includes 90,000 net acres in Southwest Pennsylvania, adjacent to EQT’s core holdings. This strategic move is anticipated to enhance EQT’s market position and operational footprint. Investors are closely watching these developments, as they reflect EQT’s commitment to growth and expansion in the energy sector.

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