EQT Corp. (EQT) Update - Aug 19
Posted: Sat Aug 19, 2023 7:12 pm
EQT to Close Acquisition After FTC Review
05:21 PM EDT, 08/16/2023 (MT Newswires) -- EQT (EQT) said late Wednesday it now expects to close the acquisition of THQ Appalachia I's upstream assets and THQ-XcL Holdings' gathering and processing assets within the next seven business days after the US Federal Trade Commission completed its review of the transaction.
"This acquisition will lower EQT's cost structure, reduce EQT's development risk, and increase cash flow and net asset value per share, while maintaining our investment grade balance sheet," said CEO Toby Rice.
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So, by the end of this coming week EQT should close the Tug Hill & Xcl Acquisitions that should push EQT's production up near 6 Bcfe per day.
TipRanks: "In the last 3 months, 13 ranked analysts set 12-month price targets for EQT. The average price target among the analysts is $45.03. Since EQT announced Q2 results on July 25th, 9 analysts have updated their price targets to an average of $47.78. The range of those 9 price targets is $37 to $60 per share, so there is lots of variance in where natural gas prices are going."
My valuation increases by $3.50 to 45.50/share because the two big acquisitions should increase production and lower their expenses per mcfepd of production. As you can see above, there is a wide range of estimates for natural gas and NGL prices over the next six quarters. The long-term outlook for EQT is VERY GOOD, which is why it stays in the Sweet 16.
05:21 PM EDT, 08/16/2023 (MT Newswires) -- EQT (EQT) said late Wednesday it now expects to close the acquisition of THQ Appalachia I's upstream assets and THQ-XcL Holdings' gathering and processing assets within the next seven business days after the US Federal Trade Commission completed its review of the transaction.
"This acquisition will lower EQT's cost structure, reduce EQT's development risk, and increase cash flow and net asset value per share, while maintaining our investment grade balance sheet," said CEO Toby Rice.
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So, by the end of this coming week EQT should close the Tug Hill & Xcl Acquisitions that should push EQT's production up near 6 Bcfe per day.
TipRanks: "In the last 3 months, 13 ranked analysts set 12-month price targets for EQT. The average price target among the analysts is $45.03. Since EQT announced Q2 results on July 25th, 9 analysts have updated their price targets to an average of $47.78. The range of those 9 price targets is $37 to $60 per share, so there is lots of variance in where natural gas prices are going."
My valuation increases by $3.50 to 45.50/share because the two big acquisitions should increase production and lower their expenses per mcfepd of production. As you can see above, there is a wide range of estimates for natural gas and NGL prices over the next six quarters. The long-term outlook for EQT is VERY GOOD, which is why it stays in the Sweet 16.