EQT Corp (EQT) Q3 Results - Oct 26
Posted: Mon Oct 26, 2020 11:38 am
EQT announced Q3 results last week and I have updated my forecast/model on the EPG website.
Note below from Piper Sandler Equity Research this morning. Their price target on EQT is $17.00.
With a continuation of solid cost control and robust productivity, EQT's capital efficiency
trended in the right direction during Q3 and management continues to execute on its
forward strategy. Further, with the potential for an MVP announcement prior to year-end
along with the Hammerhead dispute currently in arbitration, EQT continues to be a catalyst
rich story.
More importantly, however, is the recent Bloomberg article suggesting EQT
recently sent a takeover proposal to CNX (as opposed to being "in talks"). No one knows
how this saga ultimately unfolds; however, as highlighted in our earlier note, consolidation
within the gas regions is more a question of when rather than if. EQT is the natural
consolidator within SWPA and we believe all-equity at-market transactions create value for
all shareholders through reduced costs and production in the hands of fewer operators.
Note below from Piper Sandler Equity Research this morning. Their price target on EQT is $17.00.
With a continuation of solid cost control and robust productivity, EQT's capital efficiency
trended in the right direction during Q3 and management continues to execute on its
forward strategy. Further, with the potential for an MVP announcement prior to year-end
along with the Hammerhead dispute currently in arbitration, EQT continues to be a catalyst
rich story.
More importantly, however, is the recent Bloomberg article suggesting EQT
recently sent a takeover proposal to CNX (as opposed to being "in talks"). No one knows
how this saga ultimately unfolds; however, as highlighted in our earlier note, consolidation
within the gas regions is more a question of when rather than if. EQT is the natural
consolidator within SWPA and we believe all-equity at-market transactions create value for
all shareholders through reduced costs and production in the hands of fewer operators.