EQT Corp appoints new independent board chair

PITTSBURGH, PA – EQT Corporation (NYSE:EQT), a leading producer of natural gas with a market capitalization of $31.3 billion, announced significant changes to its board of directors and executive team, based on a recent SEC filing. According to InvestingPro data, EQT has shown remarkable momentum, with a 67% return over the past six months and is currently trading near its 52-week high of $54.85. On February 7, 2025, board members Janet L. Carrig, James T. McManus II, and Anita M. Powers, followed by Lydia I. Beebe on February 11, informed the company of their decisions to not seek re-election at the upcoming 2025 Annual Meeting of Shareholders and to retire from the board thereafter.

In a move to strengthen its corporate governance, EQT’s board has approved the appointment of Thomas F. Karam as the independent Board Chair, effective immediately following the 2025 Annual Meeting. Karam, a current member of EQT’s board, joined in July 2024 following the company’s acquisition of Equitrans Midstream (NYSE:ETRN) Corporation. He brings extensive experience, having served as Chairman of the Board and CEO of Equitrans Midstream Corporation from July 2019 through 2023 and as Executive Chairman from January 2024 until the acquisition.

The company’s decision to appoint an independent chair is seen as a step towards enhancing board leadership and oversight. Karam’s proven track record and deep understanding of the industry are expected to guide EQT through its next phase of growth and operational excellence. With the company’s upcoming earnings report scheduled for February 18, 2025, investors seeking deeper insights can access comprehensive analysis through InvestingPro’s detailed research reports, which cover over 1,400 US stocks.

This leadership transition comes at a time when EQT, headquartered at 625 Liberty Avenue, Pittsburgh, Pennsylvania, continues to focus on its core business of crude petroleum and natural gas production. The company maintains a solid gross profit margin of 50.35% and has consistently raised its dividend for three consecutive years. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with 11 analysts revising their earnings estimates upward for the upcoming period. The company’s fiscal year ends on December 31, and it is incorporated in the state of Pennsylvania with an IRS identification number of 25-0464690.

The information regarding these corporate changes is based on the latest 8-K filing with the Securities and Exchange Commission. The company has not provided further details on the reasons behind the board members’ departures or the specific objectives for the newly appointed independent Board Chair. However, these developments are part of EQT’s ongoing efforts to align its leadership structure with its strategic priorities and industry best practices.

In other recent news, EQT Corporation has been quite active with notable developments. The company reported a total loss of $184 million on derivatives for the quarter ending December 31, 2024, according to a recent SEC filing. On a brighter note, EQT announced the introduction of its 2025 Short-Term Incentive Plan (STIP) aimed at aligning the interests of executive officers and other eligible employees with those of shareholders and the company’s strategic objectives.

Further, EQT Corporation completed the sale of its non-operated assets in Northeast Pennsylvania to Equinor USA Onshore Properties Inc. and its affiliates, a transaction that brought in approximately $1.25 billion in cash. This move is part of EQT’s ongoing efforts to optimize its asset portfolio and strengthen its balance sheet.

In analyst news, JPMorgan maintained its Overweight rating on EQT Corp. and increased the price target to $53.00 from the previous $50.00, following the company’s announcement of expected capital expenditure reductions and production improvements for 2025. On the other hand, Citi analyst Nicholas Herman maintained a Neutral stock rating on EQT AB (ST:EQTAB), despite increasing the price target to SEK 340.00, up from the previous SEK 330.00.

These are the recent developments in EQT Corporation that investors should be aware of.

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