EQT Corporation explores for, produces, gathers, and transmits hydrocarbons and natural gas. It sells natural gas, natural gas liquids, and oil to marketers, utilities, and industrial customers in the Appalachian Basin. The company also provides marketing services and contractual pipeline capacity management, engages in risk management and hedging, and owns and operates propane storage and distribution terminals. Formerly known as Equitable Resources Inc., it changed its name to EQT Corporation in February 2009; it was founded in 1888 and is headquartered in Canonsburg, Pennsylvania.
EQT lifts output guidance, locks in LNG and power deals as AI gas demand builds
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Record Q2 and raised 2026 production guidance EQT reported record operations, raised 2026 sales volume guidance by about 90 Bcfe, and cut full-year capex by $25 million. It generated $330 million of free cash flow. More gas sold at lower cost means more profit, which supports the stock.
This is the core new fundamental event of the period and directly lifts earnings expectations.
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Analysts raise price targets after Q2 Following the strong quarter, analysts lifted their price targets on EQT, and the stock jumped 8.45% in a single session. Higher targets signal Wall Street expects more value ahead, which pulls in buyers and pushes the price up.
It shows the market's reaction to the new results and why the stock moved higher.
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MVP Southgate accelerated plus new supply and midstream deals EQT is speeding up the Mountain Valley Pipeline Southgate extension after winning all major permits, and signed a 10-year gas supply deal with Competitive Power Ventures. It also bought Blackline Midstream for $77 million. These moves add steady, fee-based cash flow and long-term customers.
This is a new strategic expansion that improves future revenue visibility and supports the bull case.
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SpaceX's 20-gigawatt power plan boosts gas demand outlook SpaceX aims to bring up to 20 gigawatts of power infrastructure online by end-2027, and analysts name EQT as a beneficiary because it will need natural gas. More power demand means more gas sold, lifting EQT's long-term sales and prices.
It reinforces the AI/data-center gas demand story with a fresh, large-scale catalyst.
Q3 2026
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EQT upgraded on debt cuts, record Q2, AI gas demand
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Moody's positive outlook on debt reduction Moody's changed EQT's outlook to positive, crediting rapid debt cuts and strong free cash flow. This signals improving financial health and lowers borrowing costs, making the company more attractive to investors.
Credit upgrade directly improves investor confidence and lowers risk.
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Record Q2 results and raised guidance EQT reported record Q2 results: production guidance rose by about 90 Bcfe, capital spending fell $25 million, and free cash flow reached $330 million. Analysts raised price targets, and the stock jumped 8.45% in one day.
Strong operational and financial results are a key driver of the stock's move.
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Copia Power acquisition expands into power and data centers EQT acquired Copia Power, adding 2.6 GW of generation and 9 GW of data center development. This moves EQT into integrated power and infrastructure, positioning it to capture AI-driven electricity demand.
Strategic expansion into power generation and data centers opens new growth avenues.
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Risks temper the bull case Much of the upside depends on AI data center demand materializing as expected, natural gas prices remain volatile, and the Copia acquisition adds execution and capital risk in unfamiliar territory. These factors could pressure the stock if they worsen.
Balances the positive drivers with real risks that could affect future performance.
News & notes movingEQT
United States
Energy Transition & Power Demand▲
EQT Completes Record Appalachian Lateral, Tests Advanced Gas Recovery
EQT has reported completing a record-setting horizontal lateral in the Appalachian Basin and is now testing advanced gas recovery methods on the new well. The company is applying secondary and tertiary recovery techniques to assess how much additional natural gas can be produced, running the tests across its Appalachian footprint to compare recovery efficiency with prior drilling and completion approaches. EQT runs a large US natural gas operation stretching from drilling to gathering and transmission, with a $31.8b market cap, so any shift in recovery techniques can ripple through its broader production system and midstream network. If the methods work across the footprint, the producer could support its gathering and transmission network with fewer new wells and more output per pad, potentially reducing maintenance capital while serving long term data center and LNG contracts. The key proof point to watch is whether EQT starts disclosing materially higher recovery factors or lower per-unit development costs from these methods on upcoming quarterly calls, and whether it bakes the techniques into published type curves or development plans.
Energy Transition & Power Demand › Natural Gas Value Chain Technology
EQT · Technology · Positive EQT completed a record-setting Appalachian lateral and is testing advanced secondary/tertiary gas recovery techniques that could raise recovery factors and cut per-unit development costs.
NATGAS · Supply · Positive If EQT's advanced recovery methods work, more natural gas output per pad with fewer new wells would add to US gas supply, a bearish-supply factor for Natural Gas Futures.
Ignitis to Sign 2027-2036 LNG Deal With EQT Unit for 10 Cargoes
Ignitis will enter into a long-term LNG purchase agreement for 2027-2036 with a subsidiary of EQT Corporation, which submitted the best offer in the binding tender announced on 25 August 2026. Under the deal, Ignitis commits to buying 10 LNG cargoes, consisting of one cargo of approximately 1 TWh per year. Pricing is linked to two international benchmarks, the U.S. Henry Hub and the European TTF index. The agreement aims to meet the needs of residential natural gas consumers in Lithuania and to diversify supply sources, improve flexibility and manage price volatility risks. Ignitis submitted a justification of the agreement to the National Energy Regulatory Council before signing, and the transaction will go to the Commission for the Coordination of the Protection of Objects Important to National Security, with completion also subject to approval by the LNG supplier's corporate governing bodies. The information does not affect the Group's Adjusted EBITDA and Investments guidance for 2026.
Energy Transition & Power Demand › Natural Gas Value Chain ▲Demand
EQT · Demand · Positive EQT subsidiary won the binding tender and will supply 10 LNG cargoes to Ignitis for 2027-2036, a concrete long-term sales deal.
Japanese Companies Delisting from Tokyo Stock Exchange Hit Three-Year High
The number of companies delisted from the Tokyo Stock Exchange (TSE) in 2026 is on track to set a record high for the third consecutive year. As of September 4, 128 companies have been delisted or are preparing to delist, surpassing the 125 companies in all of 2025. There are also 29 companies under watch, of which 28, or about one-fifth, have turned to funds to transition to unlisted status, aiming to simplify shareholder structures and enable faster management decisions, especially under pressure from activist investors. For example, Mamezo, a startup that listed on the TSE Growth market in June 2024, chose to partner with EQT and go private to invest in AI businesses without being constrained by short-term earnings. The TSE's market restructuring in April 2022, which reduced the number of boards from four to three and introduced stricter market capitalization criteria, has led to 10 companies that fail to meet the criteria being delisted on October 1, with more expected in 2027. As of the end of August, the TSE had 3,705 listed companies, down from 3,782 at the end of 2025 and 4% below the peak at the end of 2023, marking the lowest level in seven years. Meanwhile, the number of IPOs in the first eight months of this year stands at 22, down from the same period last year.
MAMEZO Co., Ltd. · Capital · Neutral Mamezo is going private via EQT to invest in AI without short-term earnings pressure, a strategic delisting move with mixed implications.
EQT · Capital · Neutral EQT is named as the private-equity partner taking Mamezo private, a deal mention but no clear positive/negative for EQT itself.
EQT AB repurchased 680,980 of its own ordinary shares between 24 August and 28 August 2026, as part of a larger buyback program of up to 4,368,899 shares for a maximum of SEK 2,500,000,000 announced on 12 May 2026. The transactions, executed on Nasdaq Stockholm by Skandinaviska Enskilda Banken on EQT's behalf, brought the total repurchased under the program to 3,661,696 shares at an aggregate cost of SEK 1,219,445,016.22. Following these acquisitions, EQT holds 60,326,461 of its own shares, leaving 1,166,276,403 outstanding. The program runs until 4 September 2026 and complies with EU market abuse regulations.
EQT Misses Q2 Estimates, Raises Production Outlook
EQT Corporation reported second-quarter 2026 adjusted earnings of 39 cents per share, down 13.3% year over year and missing the Zacks Consensus Estimate of 41 cents by 4.9%. Revenues declined 29.2% year over year to $1.81 billion, also missing the consensus estimate of $1.84 billion by 1.4%. The company completed its $77 million acquisition of Blackline Midstream LLC on July 21, 2026, which operates two propane storage and distribution terminals in New England. Management raised its full-year 2026 production outlook by roughly 90 Bcfe to 2,375-2,450 Bcfe, while lowering capital spending guidance by $25 million to $2.04-$2.19 billion. Free cash flow attributable to EQT climbed 37.6% to $329.7 million, and total debt fell to $5.7 billion from $7.8 billion at the end of 2025.
Eagle Capital Sees EQT as Major Winner from LNG and Data Center Demand
Eagle Capital Management highlighted EQT Corporation in its second-quarter 2026 investor letter, citing the natural gas producer's low-cost assets and favorable supply-demand outlook. The firm expects EQT's earnings per share to grow in the mid-teens over the next several years, driven by added LNG export capacity and rising U.S. electricity demand from data center buildouts. EQT closed at $53.64 per share on August 19, 2026, with a market capitalization of $33.55 billion. Eagle noted that EQT's position in the Marcellus shale and internally owned pipeline assets give it a distinctive advantage over most peers.
Energy Transition & Power Demand › Natural Gas Value Chain ▲Demand
EQT · Demand · Positive Eagle Capital highlights EQT as a major winner from LNG export capacity and rising data center electricity demand, expecting mid-teens EPS growth.
EQT AB repurchased 643,000 of its own ordinary shares between 10 August and 14 August 2026. The buybacks are part of a program announced on 12 May 2026 for up to 4,368,899 shares, with a maximum total value of SEK 2,500,000,000, running from 20 July to 4 September 2026. The weighted average price for the week was SEK 346.3653, bringing the total transaction value to SEK 222,712,877.60. Since the program began, EQT has repurchased 2,438,661 shares at an average price of SEK 330.9512, for a total of SEK 807,077,666.40. Following these purchases, EQT holds 59,103,426 own shares, leaving 1,167,499,438 outstanding out of 1,226,602,864 issued.
EQT Misses Q2 Revenue Estimates While BKV Leads Upstream Gas Peers
EQT reported second-quarter revenues of $1.68 billion, up 5.2% year on year but 3.3% below analysts' expectations, in a mixed quarter that included an EBITDA beat and a significant EPS miss. Among the six upstream natural gas E&P stocks tracked, BKV was the best performer with revenues of $465.5 million, up 44.6% year on year and 27.4% above consensus, while Antero Resources was the weakest with revenues of $1.48 billion, up 22.7% but 3% below estimates. CNX Resources posted revenues of $461.2 million, down 3.7% year on year and 3.6% below expectations, and Range Resources reported revenues of $736.7 million, up 5.4% and 1.8% above consensus. As a group, the six companies beat revenue estimates by 1.1%, and their shares have risen 9% on average since reporting.
Americold raises full-year AFFO guidance after strong second quarter
Americold Realty Trust raised its full-year adjusted funds from operations guidance to a range of $1.26 to $1.32 per share, an increase of $0.04 at the midpoint, after reporting second-quarter AFFO of $0.35 per share. The company also announced a $1.3 billion strategic joint venture with EQT involving 12 contributed assets at a 7% blended cap rate, with proceeds expected to repay approximately $1.1 billion of debt and reduce leverage by roughly three-quarters of a turn. Physical occupancy in the global warehouse segment rose 200 basis points sequentially and 300 basis points year over year to 67.4%, while economic occupancy reached 76.0%, tightening the gap between the two metrics to 860 basis points. Americold recorded a $298.8 million noncash impairment charge in the second quarter related to the wind-down of automated facilities in Lancaster and Plainville, contributing to a net loss of $342.8 million for the quarter. The company also reported total revenues of $662.9 million, up 1.9% from the prior year, and core EBITDA of $159.1 million, flat compared to the second quarter of 2025.
SpaceX earnings call remarks jolt telecom and energy stocks
SpaceX's latest earnings call triggered sharp moves in telecom and energy stocks after executives outlined plans to build a terrestrial wireless network and massive power infrastructure. COO Gwynne Shotwell said Starlink would target customers of AT&T, Verizon, and T-Mobile, which together generate roughly $600 billion a year, causing shares of those carriers to drop. Deutsche Telekom CEO Timotheus Hottges acknowledged the market reaction, calling it overblown but saying the company takes SpaceX's ambitions seriously. Separately, Elon Musk's comments about building 20 gigawatts of power lifted natural gas equipment suppliers GE Vernova and Baker Hughes, as well as power providers Constellation Energy, NextEra Energy, Vistra, and EQT Corporation. The call also boosted Nvidia after Musk said SpaceX would build exclusively on its Vera Rubin architecture, and highlighted Echostar's 261.8 million share stake in SpaceX as a direct beneficiary.
Energy Transition & Power Demand › Firm Power & Transition Fuels ▲Demand
Artificial Intelligence › AI Compute & Accelerator Silicon ▲Demand
Energy Transition & Power Demand › Natural Gas Value Chain ▲Demand
Artificial Intelligence › AI Power & Cooling ▲Demand
Energy Transition & Power Demand › Grid, Transmission & Power Equipment ▲Demand
Artificial Intelligence › AI Data Center & Build-out Demand
SPCX · Demand · Positive SpaceX's own earnings call outlines plans for terrestrial wireless network and power infrastructure, directly impacting its business.
ECHO · Capital · Positive EchoStar's 261.8 million share stake in SpaceX is highlighted as a direct beneficiary of SpaceX's plans.
T · Competition · Negative SpaceX targets AT&T's customers with Starlink, posing a competitive threat.
TMUS · Competition · Negative SpaceX targets T-Mobile's customers with Starlink, posing a competitive threat.
VZ · Competition · Negative SpaceX's Starlink plans to target AT&T, Verizon, and T-Mobile customers, threatening Verizon's market share.
BKR · Demand · Positive Musk's plan to build 20 GW of power infrastructure boosts demand for GE Vernova's gas equipment.
SpaceX's 20-gigawatt power target is a 'clear positive' for equipment suppliers
SpaceX is targeting as much as 20 gigawatts of power, cooling, and electrical infrastructure online by the end of next year, a demand level that Melius Research calls a 'clear positive' for industrial equipment suppliers. Managing director James West highlighted that this massive requirement, nearly half of the 53 gigawatts of new US generation capacity added in 2025, will benefit companies already riding the AI infrastructure boom. Among the beneficiaries are natural gas power equipment makers GE Vernova and Baker Hughes, as well as power providers Constellation Energy, NextEra Energy, Vistra, and EQT Corporation. GE Vernova reported a 36% backlog increase to $176 billion in its second quarter, with power segment orders up 134% year on year, while Baker Hughes saw its industrial energy and technology orders double to over $7 billion. Elon Musk stated that even if forecasts fall short, SpaceX should still have around 15 gigawatts of capacity at the power plant level by the end of 2027.
Energy Transition & Power Demand › Nuclear Generation & Utilities ▲Demand
Energy Transition & Power Demand › Firm Power & Transition Fuels ▲Demand
GEV · Demand · Positive GE Vernova's power segment orders up 134% year on year, with backlog increase to $176 billion, directly benefiting from SpaceX's power infrastructure needs.
BKR · Demand · Positive Baker Hughes' industrial energy and technology orders doubled to over $7 billion, driven by SpaceX's massive power demand.
VST · Demand · Positive SpaceX's massive power demand is a clear positive for power providers like Vistra.
CEG · Demand · Positive Constellation Energy is highlighted as a beneficiary of SpaceX's 20 GW power target, which boosts demand for power providers.
EQT · Demand · Positive EQT Corporation is listed among beneficiaries of SpaceX's power demand, which increases demand for natural gas power.
NEE · Demand · Positive NextEra Energy is named as a beneficiary of SpaceX's power demand, which boosts demand for its power generation services.
EQT launches share buyback of up to SEK 2.5 billion
EQT has commenced a share buyback program running from July 20 to September 4, 2026, authorizing the repurchase of up to 4,368,899 shares for a maximum of SEK 2,500 million. The buyback begins as the stock has gained 14.34% over the past 30 days and 9.14% over 90 days, though the year-to-date return is down 9.63% and the five-year total shareholder return is down 23.16%. A widely followed narrative suggests the shares may be undervalued, with a fair value estimate of SEK370.13 compared to the last close of SEK323.70, implying potential upside. However, the stock trades at a price-to-earnings ratio of 33 times, above the European Capital Markets average of 13.8 times and a fair ratio of 30.5 times, indicating the market already assigns a premium.
EQT · Capital · Positive EQT launches a share buyback program of up to SEK 2.5 billion, signaling management's confidence and supporting the stock price.
EQT accelerates Mountain Valley Pipeline Southgate extension, adds supply deal and midstream assets
EQT is accelerating work on the Mountain Valley Pipeline Southgate extension after securing all major regulatory approvals, finalizing a long-term supply agreement and expanding its midstream asset base through a recent infrastructure acquisition. The company is pulling forward $85 million of capital spending to advance the project, while signing a 10-year contract with Competitive Power Ventures' Shay Energy Center that provides volume and pricing visibility. EQT also completed the $77 million Blackline Midstream acquisition, adding storage and distribution capacity to support marketing options. These moves aim to tighten the link between upstream gas production and fee-based midstream cash flows, though they concentrate project execution and regulatory risk over the next few years.
EQT · Demand · Positive Secured a 10-year supply agreement with Competitive Power Ventures' Shay Energy Center, providing volume and pricing visibility.
EQT · Capital · Positive Completed $77 million Blackline Midstream acquisition, adding storage and distribution capacity to support marketing options.
S&P 500 Futures Edge Lower as Rising Yields and Energy Jitters Weigh
US stock futures are pointing slightly lower as investors weigh higher bond yields and firm energy prices against softer jobs data. The US 10-year Treasury yield is trading near a two-month high around 4.63%, keeping borrowing costs elevated, while a surprise US crude inventory build of 2.6 million barrels and emergency reserves at a 43-year low keep energy costs in focus. ADP private hiring continues to slow, raising questions about whether rate-sensitive sectors like banks and real estate or economically sensitive areas like consumer and small-cap stocks should be the priority for portfolio risk. Among top movers, Westinghouse Air Brake Technologies jumped 10.04% after Q2 results and a higher BofA price target, Dell Technologies surged 9.32%, and EQT gained 8.45% after analysts raised price targets following Q2 performance and cash flow metrics. On the losing side, Boxabl declined 23.85%, Innio declined 9.66%, and GE Vernova declined 8.69% following a share buyback tranche update filing. Earnings from Intel, Honeywell International, Blackstone, and NextEra Energy are on the radar, with Intel reporting Q2 results after the market close on Thursday.
EQT Corp Reports Record Operations, Raises 2026 Production Guidance by 90 Bcfe
EQT Corp reported record operational performance in its second quarter 2026 earnings call, including drilling the longest lateral in shale development history at over 29,000 feet with no safety incidents. The company generated $330 million in free cash flow during the quarter, while natural gas prices averaged $2.89 per MMBtu. EQT raised its 2026 production guidance by approximately 90 Bcfe and lowered full-year capital expenditure by $25 million. The company also pulled forward $85 million in capital contributions for the MVP Southgate project into 2026 and acquired Blackline Midstream for approximately $77 million, which includes 46 million gallons of propane storage capacity in New England and is projected to yield a 20% free cash flow yield under base case underwriting. Additionally, EQT signed a five-year LNG offtake agreement for 0.5 million tons per annum starting in 2028, expected to increase free cash flow by approximately $45 million in that year, and is approaching its long-term net debt target of $5 billion.
Energy Transition & Power Demand › Natural Gas Value Chain ▲Supply
Energy Transition & Power Demand › Behind-the-Meter & On-site Power Competition
EQT · Capital · Positive Record operations, raised production guidance, lowered capex, and strong free cash flow generation.
NATGAS · Supply · Neutral EQT raised production guidance by 90 Bcfe, which could increase natural gas supply, but the article does not specify market price impact.
Super Micro Computer surges 25% on strong preliminary results
Super Micro Computer shares surged 25% after the server maker reported preliminary fourth-quarter results with much stronger profitability than expected, offsetting revenue near the low end of guidance. EQT rose over 6.6% on stronger-than-expected second-quarter production and raised its 2026 sales volume guidance to 2,375–2,450 billions of cubic feet equivalent. Amazon slipped 1% after confirming job cuts in its artificial intelligence group. AAR slid almost 11% after fiscal fourth-quarter margins missed estimates, with management citing constrained supplies of used serviceable material. Westinghouse Air Brake Technologies popped 11% to a 52-week high after lifting full-year guidance. Chubb fell more than 3% despite reporting slower property and casualty insurance growth due to underwriting discipline. Dell Technologies and Hewlett Packard Enterprise rose 10% and 5%, respectively, as Super Micro's results boosted server peers. Pegasystems tumbled more than 16% after second-quarter earnings missed expectations. Rocket Lab gained 3.5% on a $266 million U.S. Air Force contract. GE Vernova declined more than 7% despite a revenue beat and raised guidance. AT&T rose 2.9% after adjusted earnings topped estimates. CME Group added 5% on better-than-expected second-quarter results.
EQT declares quarterly cash dividend of $0.165 per share
EQT Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.165 per share on its common stock. The dividend is payable on September 1, 2026, to shareholders of record at the close of business on August 5, 2026.
An 89-year-old reader asked whether he should stop following income-focused investment advice since he only seeks growth. The response highlights a 52% total return on EQT Corp since its addition to the Hidden Yields dividend growth portfolio in January 2024, driven by natural gas demand from AI data centers. EQT’s market cap has ballooned to $37 billion, and it is the exclusive gas supplier for the Homer City AI power campus, one of the largest single-site gas deals in North American history. The company’s first-quarter revenue nearly doubled to $3.4 billion, and its dividend was raised by 5% in October, with more hikes likely. The advice concludes that dividend growth investing can deliver double-digit annual returns and urges the reader to stay.
Private equity giants dominate fundraising as smaller firms face zombie risk
Global private equity fundraising topped $260 billion in the first half of 2026, putting the sector on pace to raise about 17% more this year than in 2025, but the rebound is increasingly benefiting the industry's largest players. The number of funds successfully closing is shrinking sharply, with about 310 funds reaching a final close in the first six months, putting 2026 on track for roughly 620 fund closings, down from 830 last year and well below the more than 1,000 annual closings recorded for much of the past decade. Funds targeting more than $1 billion have captured more than 80% of capital raised so far this year, the highest share in more than a decade. Major firms continue to attract investor commitments, with KKR recently closing a $23 billion North American buyout fund, EQT completing a roughly $16 billion Asia-Pacific vehicle, and Advent nearing a $26 billion fundraising target. The trend has fueled concerns about a growing number of so-called zombie firms that continue managing existing investments but struggle to raise fresh capital, with EQT Chief Executive Per Franzén predicting last year that as many as 80% of private capital firms could fall into that category within the next decade.
EQT to Acquire AI Infrastructure Platform Copia Power from Carlyle
EQT Corporation has agreed to acquire Copia Power, an integrated power and AI infrastructure platform, from The Carlyle Group. Financial terms were not disclosed. The transaction is expected to close by the end of 2026. Copia develops integrated energy campuses combining power generation, high-voltage transmission, and data center infrastructure, with more than 2.6 gigawatts of energy generation and storage assets in operation or under construction and over 9 gigawatts of grid-connected data centers in development. EQT stated the acquisition expands its U.S. AI infrastructure portfolio across data centers, energy, and fiber connectivity, and it plans to partner with Copia's management to scale the platform and advance its integrated campus model nationwide.
StockStory Highlights Morningstar and EQT as Value Buys, Flags Asana as a Sell
StockStory identified two value stocks to own for decades and one to ignore. Morningstar, trading at $165.15 per share with a forward P/E of 14.1x, is favored for its 11.5% annual sales growth over five years and 40.7% annual EPS growth driven by share repurchases. EQT, priced at $51.33 with a forward P/E of 13x, is highlighted for its 15.4% annual revenue growth over ten years and a robust free cash flow margin of 29.6%. Asana, at $7.14 and a forward P/S of 2x, is flagged as a sell due to disappointing 9.6% average ARR growth and a net revenue retention rate of 96%.
ASAN · Demand · Negative Disappointing 9.6% average ARR growth and net revenue retention rate of 96% indicate weak customer demand.
EQT · Capital · Positive Highlighted as a value buy with 15.4% annual revenue growth and 29.6% free cash flow margin, suggesting strong financial performance.
MORN · Capital · Positive Favored for 11.5% annual sales growth and 40.7% annual EPS growth driven by share repurchases, indicating strong financial health.
Freedom Broker Initiates EQT Corp with Buy Rating and $79 Price Target
Freedom Broker initiated coverage of EQT Corp with a Buy rating and a $79 price target on June 30. The brokerage noted that EQT Corp is the largest US natural gas producer and stands to benefit from improving natural gas market fundamentals. Demand is being driven by high summer cooling needs, increased exports, tight supplies, and AI data center buildout. EQT Corp generated a record free cash flow of $1.83 billion in the first quarter of 2026 and is nearing its target of cutting long-term debt to $5 billion.
Energy Transition & Power Demand › Natural Gas Value Chain ▲Demand
EQT · Capital · Positive Freedom Broker initiated coverage with a Buy rating and $79 price target, citing improving fundamentals and record free cash flow.
EQT Moves Up In Analyst Rankings, Passing Amphenol
EQT Corp has overtaken Amphenol Corp to claim the number 17 spot in a ranking of analyst recommendations for S&P 500 components, according to ETF Channel. The study tracks recommendations at major brokerages for the underlying constituents of the index. EQT was trading down about 0.6 percent while Amphenol was up about 1.1 percent midday Monday.
EQT has moved up one spot to become the 187th-ranked analyst pick among S&P 500 components, based on the latest average of brokerage opinions. The ranking is derived by averaging analyst opinions for each S&P 500 company from major brokerage houses and then ordering the 500 components by those average values. Year to date, EQT's stock price has gained 18.4%.
EQT To Acquire Melbourne-Based Parking Tech Provider Orikan
EQT Corp., through its BPEA EQT Mid-Market Growth Partnership, has agreed to acquire Melbourne-based parking technology provider Orikan Group Pty Ltd. for undisclosed terms. The deal supports EQT's Asia mid-market strategy, which invests in high-growth businesses across the Asia-Pacific region. EQT plans to support Orikan's next stage of growth through investments in product innovation, AI, data capabilities, service delivery, customer experience and international expansion. Orikan provides integrated parking operations, enforcement and infringement management services supported by software, hardware, payments and data capabilities, employing nearly 400 people and serving government and private sector customers across Australia, New Zealand and North America.
Orikan Group Pty Ltd. · Capital · Positive Orikan is being acquired, with EQT planning to invest in its growth, product innovation, and international expansion.
EQT · Capital · Positive EQT's acquisition of Orikan aligns with its Asia mid-market growth strategy, expanding its portfolio in high-growth parking tech.
BPEA EQT Mid-Market Growth Partnership · Capital · Positive BPEA EQT Mid-Market Growth Partnership is the acquisition vehicle, benefiting from the deal's strategic fit.
Natural gas set to overtake petroleum as top U.S. energy source
Natural gas is poised to replace petroleum as the largest source of U.S. energy consumption for the first time in 75 years. In 2025, petroleum accounted for 37% of U.S. energy consumption while natural gas sat at 36%, according to EIA data cited by Bloomberg. The EIA projects natural gas demand will grow 3.4% between 2025 and 2027, compared with 0.6% for petroleum, rapidly closing the gap. EQT Corp. CEO Toby Rice told Bloomberg he expects natural gas to cross that threshold within the next couple of years and hold a big lead by 2030. The shift is driven by gas-fired power generation, which already supplies more than 40% of U.S. electricity, surging demand from AI data centers, and a doubling of LNG export capacity expected by 2031.
Energy Transition & Power Demand › Natural Gas Value Chain ▲Demand
Artificial Intelligence › AI Power & Cooling ▲Demand
NATGAS · Demand · Positive Natural gas demand projected to grow 3.4% between 2025 and 2027, with gas-fired power generation and LNG export capacity expansion.
EQT · Demand · Positive EQT Corp. CEO expects natural gas to overtake petroleum as top U.S. energy source, driven by gas-fired power generation and AI data center demand.
Morgan Stanley Lowers EQT Price Target to $68, Keeps Overweight Rating
Morgan Stanley lowered its price target on EQT Corporation to $68 from $74 while retaining an Overweight rating. The firm cited refreshed estimates to reflect lower energy prices after oil retreated following the June 14 US-Iran memorandum of understanding. Separately, EQT's second-quarter 2026 outlook expects total sales volume of 570-620 Bcfe, including 10-15 Bcfe of strategic curtailments, with maintenance capital expenditures of $525 million to $595 million and growth capital spending of $210 million to $235 million. The company expects second-quarter capital expenditures to mark the year's peak as growth-project spending moderates in the second half, and plans to turn in 30-45 net wells during the quarter.
StockStory Names EQT and HighPeak Energy as Top Picks, Advises Caution on ExxonMobil
StockStory highlights two energy stocks to consider and one to avoid. EQT, the largest U.S. natural gas producer by daily volume, posted 15.4% annual revenue growth over the past decade and improved its EBITDA margin by 27 percentage points in five years. HighPeak Energy, operating in the Midland Basin, achieved 78.2% annual revenue growth over five years and a best-in-class gross margin of 78.8%. Meanwhile, ExxonMobil is flagged for a below-peer gross margin of 44.1% and stagnant EBITDA margin over the same period.
Moody's Shifts EQT Outlook to Positive After US$8 Billion Debt Cut
Moody's has revised its outlook on EQT Corporation to Positive following the company's reduction of approximately US$8.00 billion in debt. The upgrade reflects lower perceived credit risk and the potential for cheaper future financing, supporting EQT's investment narrative as a low-cost natural gas producer positioned to supply AI-related power demand. EQT's strengthened balance sheet may aid funding for midstream capacity and long-term contracts tied to AI and power loads, though risks from decarbonization policies and renewable buildouts remain. The company's narrative projects US$10.1 billion in revenue and US$3.4 billion in earnings by 2029, with a fair value estimate of US$70.04 per share, representing a 33% upside to its current price.
EQT Corporation Touted as Top Natural Gas Play for AI Data Centers
A newsletter by Porter Stansberry and Luke Lango names EQT Corporation as their top natural gas company poised to benefit from surging electricity demand from artificial intelligence. The writers argue that natural gas will serve as a bridge fuel to power AI data centers until nuclear energy scales up, calling EQT critical to the future of America's natural gas industry. Separately, CNBC's Jim Cramer also highlighted EQT as a data center natural gas play. Moody's recently upgraded EQT's outlook to Positive from Stable, citing $8 billion in debt reduction. EQT shares are down 11.6% over the past year and 3.7% year-to-date.
Congressman Thomas Kean Jr. Buys EQT Shares While Serving on Committee Overseeing Pipeline Regulator
Representative Thomas Kean Jr., a Republican from New Jersey, purchased between $1,000 and $15,000 worth of EQT Corp. shares on June 1, according to congressional trading disclosures. Kean sits on the House Energy and Commerce Committee, which has oversight of the Federal Energy Regulatory Commission, the agency that regulates natural gas pipelines. In May, FERC approved a package of reforms aimed at accelerating approvals for natural gas infrastructure projects, including faster reviews for pipeline upgrades and compressor station projects. EQT is the largest natural gas producer in the United States, with most of its production coming from the Marcellus and Utica shale regions, and its shares are down 3.03% year-to-date and 12.68% over the past 12 months.
EQT · Regulation · Neutral Congressman Kean's purchase is not directly tied to a regulatory change; FERC reforms may benefit EQT but the news is about a stock purchase, not a company event.
StockStory Highlights Jabil, Motorola Solutions, and EQT as Large-Cap Stocks with Long-Term Potential
StockStory identified Jabil, Motorola Solutions, and EQT as three large-cap stocks with attractive long-term potential. Jabil, with a market cap of $39.76 billion, reported $33.59 billion in revenue and an 18.4% annual earnings per share growth over five years, alongside a 34.7% return on capital. Motorola Solutions, valued at $68.12 billion, achieved 9.5% annual revenue growth over five years and a 19.2% free cash flow margin. EQT, the largest U.S. natural gas producer by daily volume with a $32.02 billion market cap, posted 15.4% annual revenue growth over ten years and expanded its EBITDA margin by 27 percentage points over five years.
EQT's Slump May Overlook Its Efficiency Gains and AI Demand Potential
EQT shares have fallen 15.1% for the month ending June 18 and sit 25.7% below their 52-week high, but the natural gas producer's recent underperformance may be excessive given its operational improvements and potential to benefit from rising data-center power demand. The company reintegrated its Equitrans midstream unit, cutting net unit costs by 15%, and reduced well costs by 13% in the first quarter, helping generate $1.8 billion in free cash flow. EQT also slashed its outstanding debt from $7.7 billion at the end of 2025 to $5.7 billion at the end of the first quarter, supporting a growing dividend. With 90% of its output being dry natural gas and production located near the data-center-heavy Northeast Corridor, EQT could gain if utilities invest in natural gas plants to meet AI-driven electricity needs.
EQT and Occidental Petroleum Face Off as Energy Markets Shift in 2026
The Motley Fool compares EQT and Occidental Petroleum as energy investments for 2026, highlighting EQT's pure-play natural gas focus and Occidental's diversified oil and carbon-capture operations. EQT reported fiscal 2025 revenue of nearly $8.6 billion, a 61.5% increase, with net income exceeding $2.0 billion and a net margin of nearly 22.5%, while Occidental's revenue reached approximately $21.6 billion, down almost 2%, with net income of nearly $1.68 billion and a net margin close to 8%. EQT's debt-to-equity ratio was approximately 0.3x and free cash flow nearly $2.8 billion, compared to Occidental's roughly 0.7x debt-to-equity and around $3 billion in free cash flow. Occidental trades at a forward P/E of 9.7x and a P/S ratio of 2.5x, cheaper than EQT's 11.0x forward P/E and 3.3x P/S, but the analysis favors EQT for stability and long-term growth driven by European demand shifting away from Russian gas.
Morgan Stanley cuts Brent oil forecasts but says selloff has overshot physical reality
Morgan Stanley has lowered its Brent crude price forecasts for the rest of 2026, trimming its third-quarter estimate to $90 per barrel from $100 and its fourth-quarter view to $80 from $95, while arguing that the recent 29% plunge in WTI has moved ahead of actual supply disruptions. The bank’s oil strategist Martijn Rats expects only 50% of disrupted production to return by September and 80% by December, leaving a global deficit of about 3.4 million barrels per day in the third quarter. Morgan Stanley also notes that equity valuations for oil producers are discounting a WTI price of roughly $66 per barrel, well below the 12-month strip of around $75, and that the bank’s own 2026 WTI price deck stands at $88.24. The note identifies high US exports and low Chinese imports as structural factors capping upside, while highlighting that global strategic petroleum reserve releases are set to drop sharply from 2.5 million barrels per day to 0.7 million in July and August. The bank maintains Overweight ratings on several major and E&P names, viewing the pullback as a differentiated opportunity.
APA · Capital · Positive Morgan Stanley maintains Overweight rating on APA, viewing pullback as opportunity; bank's price deck above strip suggests undervaluation.
CHRD · Capital · Positive Morgan Stanley maintains Overweight rating on Chord Energy, viewing pullback as opportunity; bank's price deck above strip suggests undervaluation.
COP · Capital · Positive Morgan Stanley maintains Overweight rating on ConocoPhillips, viewing pullback as opportunity; bank's price deck above strip suggests undervaluation.
CVX · Capital · Positive Morgan Stanley maintains Overweight rating on Chevron, viewing pullback as opportunity; bank's price deck above strip suggests undervaluation.
DVN · Capital · Positive Morgan Stanley maintains Overweight rating on Devon Energy, viewing pullback as opportunity; bank's price deck above strip suggests undervaluation.
XOM · Capital · Positive Morgan Stanley maintains Overweight rating on Exxon, viewing pullback as differentiated opportunity, and notes equity valuations discount low WTI price.
EQT shares drop 5.3% over six months despite strong financial metrics
EQT shares have fallen 5.3% over the past six months to $51.47, underperforming the S&P 500's 12.4% gain. The largest U.S. natural gas producer by daily volume grew sales at an 18.4% compound annual rate over five years, and its trailing 12-month EBITDA margin expanded by 27 percentage points to 79.3%. Free cash flow margin averaged 29.6% over the last five years, ranking among the best in the energy upstream and integrated energy sector. The stock now trades at 12.6 times forward earnings.
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