EQT Corporation (NYSE:EQT), a prominent player in the natural gas industry with a market capitalization of $28.4 billion, has marked a significant milestone by reaching a 52-week high of $48.06. This peak reflects a substantial year-over-year growth, with the company’s stock value surging by 24.95%. According to InvestingPro data, the stock has demonstrated remarkable momentum with a 29% gain over the past six months. Investors have shown increased confidence in EQT (ST:EQTAB)’s strategic initiatives and operational efficiency, which have been pivotal in driving the stock to its current heights. The company’s focus on expanding its natural gas production, coupled with favorable market conditions, has contributed to this impressive performance. With analyst price targets ranging from $32.41 to $59 and a current dividend yield of 1.33%, EQT continues to attract investor attention. For deeper insights into EQT’s valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, EQT Corp. has seen several significant developments. JPMorgan maintained its Overweight rating on the company and raised the price target to $53.00, based on expected capital expenditure reductions and production improvements for 2025. The company has made strides in drilling and completion efficiency, which is expected to enhance its 2025 program’s capital efficiency. Moreover, the sale of non-operational assets is anticipated to save around $75 million, contributing to these improvements.
The company’s CFO, David Knop, indicated that the previously announced 2025 production guidance of approximately 2,100 billion cubic feet equivalent should now be considered the minimum expected volume. This optimistic outlook is due to strong well performance in the field. JPMorgan has modeled a total production of 2.2 trillion cubic feet equivalent with a capex of $2.37 billion for 2025, closely aligning with the Street’s estimate.
EQT Corp. also finalized the divestiture of its non-operated assets in Northeast Pennsylvania for approximately $1.25 billion, aiming to streamline its operational focus and improve its financial position. In addition, the company extended its share repurchase program to 2026, indicating its financial strength and commitment to shareholder returns.
On the analyst front, Citi reaffirmed its Buy rating for EQT, following discussions with the company’s CFO, Jeremy Knop. This confidence stems from the expected benefits of EQT’s acquisition of ETRN and the company’s capacity to capitalize on regional growth. Furthermore, Mizuho (NYSE:MFG) upgraded EQT’s stock rating from Neutral to Outperform, reflecting the company’s strong position as the second-largest gas producer in the U.S. and its successful operational improvements.
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