EQT CorporationNYSE: EQT
Energy · Oil & Gas Exploration & Production
$58.76
-2.21%
Vol: 4.6M
Research Digest
Friday, May 1, 2026
EQT beat Q1 2026 guidance with record $1.83B free cash flow and strong operational execution; Jefferies raised price target to $77.
EQT Corporation delivered stellar Q1 2026 results with 618 Bcfe sales volume exceeding high-end guidance driven by strong well performance and exceptional Winter Storm Fern execution. The company generated record quarterly free cash flow of $1.832 billion and retired $1.8 billion in debt during the quarter. Management guided 2026 adjusted EBITDA to ~$6.5 billion and free cash flow to ~$3.5 billion. Jefferies raised price target to $77 from $76 and maintains Buy rating. Analysts consensus is Strong Buy.
Previous Market Intelligence
13 daysApr 30EQT reports Q1 2026 EPS of $2.33 beating estimates and record $1.8 billion quarterly free cash flowPositive▶
EQT Corporation reported strong Q1 2026 financial results with earnings per share of $2.33, exceeding the forecast of $2.14 by 8.88%, and revenue of $3.38 billion surpassing expectations by 5.3%. The company generated record quarterly free cash flow of $1.832 billion with capital expenditures 4% below guidance at $608 million. Sales volume exceeded guidance by 618 Bcfe. Jefferies raised its price target to $77 from $76 on April 24, while UBS lowered its target to $74 from $75. The company is the largest U.S. natural gas producer, focused on the Appalachian Basin Marcellus and Utica shales.
Apr 29EQT Corp generates record $1.8B free cash flow in Q1 2026, CEO announces 60 BCF natural gas surplus opportunityPositive▶
EQT Corporation reported record $1.8 billion in free cash flow for Q1 2026, matching entire 2022 output, with quarterly revenue of $3.38 billion and net profit of $1.55 billion. The largest U.S. natural gas producer is well-positioned for global LNG demand with robust project pipeline including data centers and power plants. CEO Toby Rice stated the company has opportunity to create 60 BCF daily natural gas surplus as of April 24. Jefferies raised price target to $77 from $76 and issued Buy rating. UBS also issued Buy rating recently.
Apr 16EQT declares quarterly dividend of $0.165 per share payable June 1, 2026; downgraded to Hold from Buy at TPH&Co on April 7.Neutral▶
EQT Corporation's Board declared a quarterly cash dividend of $0.165 per share payable June 1, 2026. The natural gas company focused on Appalachian Basin operations was downgraded to Hold from Buy at TPH&Co on April 7, 2026. Most recent significant news is the April 14 dividend declaration. No material overnight or pre-market news identified from the last 48 hours.
Apr 15EQT expands LNG contracts with Commonwealth LNG to 2 MMtpy total; Q1 earnings on April 22.Positive▶
EQT Corporation and Glencore each committed to purchase additional 1 million metric tons per year of LNG from Commonwealth LNG under 20-year contracts. BMO Capital raised EQT price target to $76 from $68 with Outperform rating. Q1 2026 results release scheduled for April 21.
Apr 14EQT expands LNG contracts with Commonwealth LNG, moving closer to final investment decision on major expansion.Positive▶
EQT Corp. and Glencore each agreed to buy an additional 1 million metric tons per year of LNG from Commonwealth LNG under 20-year contracts. This brings EQT total contracted volumes to 2 MMtpy. The company targets $3.5 billion in free cash flow for 2026.
Apr 13EQT raised production guidance for 2026 driven by natural gas demand from data centers; Q1 earnings scheduled April 22.Positive▶
EQT Corporation raised its 2026 production outlook following strong Q4 2025 results. Updated guidance: 2026 adjusted EBITDA of $6.5 billion and free cash flow of $3.5 billion. Analysts expect Q1 2026 EPS of $2.15, up 82.2% YoY. Benefits from tightening natural gas markets and 45 gigawatts of data center capacity under construction. Stock rose 12% over 30 days.
Apr 10EQT Corporation completes $1.4B debt tender offer; BMO raises price target to $76; Q1 2026 earnings call set for April 22.Positive▶
EQT Corporation completed a $1.4 billion debt tender offer to strengthen its balance sheet. BMO Capital analyst raised price target to $76 from $68 with Outperform rating, citing outsized free cash flow generation. Q1 2026 results releasing April 21 with conference call April 22. Wall Street analysts rate EQT as Strong Buy (22 of 27 analysts).
Apr 9EQT achieves $2.5B free cash flow in 2025; Q1 earnings due April 22Positive▶
EQT Corporation reported strong Q4 2025 performance with $2.5B free cash flow in 2025. Company raising 2026 production outlook and increasing Mountain Valley Pipeline stake. Q1 2026 results to be released April 21 after market close, conference call April 22 at 10 a.m. ET. Analysts bullish with 20 analysts averaging Buy rating and $65.84 price target. BMO Capital and Morgan Stanley recently raised targets to $76 and $74 respectively. Data center AI demand supports gas demand in Northeast/mid-Atlantic.
Apr 8Analyst upgrades propel EQT: Truist Buy $74, JP Morgan $72; Q1 earnings April 21-22Positive▶
EQT Corporation received multiple bullish analyst actions: Truist Securities initiated coverage with Buy and $74 target on March 24; JP Morgan raised target from $68 to $72 on March 17; Evercore ISI raised to $70 from $60. Company posted $2.5B free cash flow in 2025 with strong Appalachian Basin fundamentals. Natural gas price weakness recently sent stock down 2.28%, but strategic data center pipeline investments support $65+ per share target thesis. Q1 2026 earnings release April 21 with call April 22. Consensus Buy with $65.84 target (2.4% upside).
Apr 7EQT guides $3.5B FCF for 2026; Q1 earnings call April 22; analysts raise PTs.Positive▶
EQT Q1 2026 release April 21, call April 22. Q4 2025 EPS $0.90 beat $0.72 est; revenue $2.39B. FY2026: production 2,275-2,375 Bcfe, EBITDA ~$6.5B, FCF ~$3.5B. Evercore $60 to $70, BMO $76, MS $74. 24 analysts target $67.47 (+11.61%). Stock $60.45.
Apr 6EQT Increases MVP Ownership, Reports Strong 2025 ResultsPositive▶
EQT Corporation announced on February 17, 2026 that it increased its MVP Ownership to approximately 53% by exercising an option to acquire ConEdison's interest in MVP Mainline and MVP Boost for approximately $115 million. The company broke multiple records in Q4 2025 including fastest quarterly completions pace and most lateral footage drilled in 24 and 48 hours, with average well cost per foot 13% lower year-over-year. Sales volume reached 609 Bcfe, exceeding guidance. EQT's Board declared a quarterly cash dividend of $0.165 per share (February 5, 2026). Company commenced a tender offer in March 2026 to support capital allocation strategy.
Apr 3EQT Corporation schedules Q1 2026 earnings for April 21-22 and projects $3.5 billion free cash flow for 2026.Positive▶
EQT will issue Q1 2026 results after market close April 21 with conference call April 22. For 2026, company projects production of 2,275-2,375 Bcfe, maintenance capex of $2.07-2.21B, and ~$3.5B free cash flow. Q4 2025 adjusted EPS of $0.90 beat $0.72 estimate. Shareholder meeting scheduled April 14.
Apr 2EQT Corporation declined 4.01% overnight despite analyst upgrades from BMO Capital ($76 PT) and Morgan Stanley ($74 PT); Q1 2026 earnings April 21.Negative▶
EQT Corporation will release Q1 2026 financial results after market close on April 21, 2026, with conference call on April 22 at 10:00 a.m. ET. The stock declined 4.01% overnight. BMO Capital raised EQT's price target to $76 from $68 on March 27, 2026, and Morgan Stanley raised its target to $74 from $69. EQT reported strong Q4 2025 results exceeding expectations in revenue and free cash flow ($2.5 billion), while raising 2026 production outlook. The company is increasing its stake in the Mountain Valley Pipeline.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| COPCONOCOPHILLIPS | $123.50 | -1.81% | -4.5% | 14.8x | 0.19 | $153.3B |
| EOGEOG | $139.11 | -1.04% | -1.7% | 9.9x | 0.33 | $75.3B |
| OXYOCCIDENTAL | $58.75 | -3.03% | -3.8% | 16.9x | 0.23 | $60.1B |
| FANGDIAMONDBACK | $207.50 | +0.91% | +5.8% | 12.0x | 0.49 | $57.8B |
| EQTEQT | $58.76 | -2.21% | -0.5% | 12.9x | 0.69 | $37.6B |
| DVNDEVON | $50.68 | -1.34% | +3.5% | 9.6x | 0.53 | $31.9B |
Key Fundamentals
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Price between 50d and 200d. Testing 50d support.