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EQT Corporation (NYSE:EQT), a $36.91 billion energy company that has delivered an impressive 64.81% return over the past year, announced Wednesday that its indirect wholly owned subsidiary, EQM Midstream Partners, LP, has issued notices of full redemption for all of its outstanding series of senior notes. The redemption will cover seven note series with a combined principal amount of approximately $92.7 million as of July 16. According to InvestingPro data, EQT (ST:EQTAB) operates with a moderate debt level, maintaining a healthy debt-to-equity ratio of 0.41.
According to the press release statement, the notes subject to redemption include:
- $4,069,000 of 7.500% Senior Notes due 2027
- $48,868,000 of 6.500% Senior Notes due 2027
- $8,338,000 of 4.50% Senior Notes due 2029
- $3,265,000 of 6.375% Senior Notes due 2029
- $5,536,000 of 7.500% Senior Notes due 2030
- $9,616,000 of 4.75% Senior Notes due 2031
- $12,989,000 of 6.500% Senior Notes due 2048
The company stated that EQM will redeem 100% of the outstanding aggregate principal amount of these notes on July 31, 2025, at the redemption prices set forth in the applicable governing indentures. After the redemptions are completed, EQM will no longer have any outstanding notes.
EQT Corporation is based in Pittsburgh, Pennsylvania, and its common stock is listed on the New York Stock Exchange under the ticker (NYSE:EQT). This information is based on a press release statement included in the company’s recent SEC filing. For deeper insights into EQT’s debt management strategy and comprehensive financial analysis, check out the detailed Pro Research Report available on InvestingPro, which covers over 1,400 top US stocks.
In other recent news, EQT Corporation announced a quarterly cash dividend of $0.1575 per share, maintaining its regular cash distribution to shareholders. The company has secured significant supply agreements, including providing natural gas to two new power projects in Pennsylvania, which were highlighted at the Pennsylvania Energy and Innovation Summit. EQT will supply approximately 800 million cubic feet per day of natural gas to the converted Bruce Mansfield Coal Power Plant, now a gas-fired facility. Additionally, EQT has entered an agreement with Homer City Redevelopment to supply natural gas for the 4.4 gigawatt Homer City Energy Campus, marking one of the largest single-site natural gas transactions in North America. Analyst firms have responded positively, with JPMorgan reiterating an Overweight rating and Citi maintaining a Buy rating, citing the company’s growth strategy and potential. UBS also maintained its Buy rating and a $64 price target, noting a strong derivatives net gain and a slight increase in its EBITDA estimate for EQT. These developments reflect EQT’s ongoing strategic initiatives and financial performance.
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