EQT (EQT)
Produces Appalachian natural gas and moves it through owned gathering, transmission and storage networks.
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Produces and markets natural gas and NGLs from the Marcellus and Utica shales, then earns additional fees through owned gathering, processing, interstate transmission and storage assets. The integrated footprint is concentrated in the Appalachian Basin, with pipeline capacity connecting production to markets beyond the region.
Produces natural gas, NGLs and a small amount of oil from Marcellus and Utica acreage across Pennsylvania, West Virginia and Ohio. The Upstream segment develops and markets those volumes, while Gathering owns overlapping collection systems and processing capacity; Transmission operates interstate pipelines and storage and holds the Mountain Valley Pipeline investment.
Combines contiguous acreage, pad development, digital operating workflows and owned midstream infrastructure to coordinate drilling, gathering and delivery. Customers include marketers, utilities and industrial users, with roughly half of sales volumes reaching markets outside Appalachia through a portfolio of firm transportation capacity.
Substantially all assets and operations remain concentrated in the Appalachian Basin. Revenue depends primarily on natural-gas and NGL prices, regional basis differentials and production volumes, while wells, pipelines and storage are subject to federal and state environmental, permitting and safety rules.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 9, 2026 | Stifel Nicolaus | Target | Target: — | Target: $66 |
| Jul 22, 2026 | Stephens | Target | Target: $71 | Target: $72 |
| Jul 15, 2026 | Stephens | Reiterate | Rating: —Target: $38 | Target: $71 |
| Jul 8, 2026 | UBS | Reiterate | Rating: —Target: — | Target: $73 |
| Mar 24, 2026 | Truist Securities | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $112.9M · Total debt $5.66B · Total assets $41.32B · Shareholders' equity $25.26B
- Revenue
- $1.81B
- Operating income
- $454.0M
- Net income
- $281.4M
HistoryDividendAnnual yield
| Institutions | 94.73% | 592.56M shares | |
|---|---|---|---|
| 1,178 holders · as of Jun 30, 2026 | |||
| Insiders | 0.64% | 3.98M shares | |
| 16 holders · as of Aug 18, 2026 | |||
| Other | 4.63% | 28.98M shares | |
| remainder | |||
625.52M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 9.63% | 60.26M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.53% | 40.86M | as of Jun 30, 2026 |
State Street CorpInstitution | 6.34% | 39.68M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.24% | 32.76M | as of Jun 30, 2026 |
Morgan StanleyInstitution | 3.89% | 24.35M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 14, 2026 | Toby Z. Rice | director, officer: PRESIDENT & CEO | −175,328 | $55.03 |
| Jun 8, 2026 | Toby Z. Rice | director, officer: PRESIDENT & CEO | −1,731 | $53.46 |
| Jun 5, 2026 | Toby Z. Rice | director, officer: PRESIDENT & CEO | −96,983 | $54.28 |
| Apr 27, 2026 | Vicky A. Bailey | director | −4,116 | $59.80 |
| Mar 16, 2026 | Sarah Fenton | officer: EVP UPSTREAM | −4,876 | $64.49 |
- Expand Energy
Scale rival in Appalachian and Haynesville gas with superior LNG proximity.
- Antero Resources
Premier Appalachian NGL and wet gas producer; strong LNG and export marketing.
- Range Resources
Marcellus pioneer in SW Pennsylvania; shared acreage, pipeline capacity, buyers.
- CNX Resources
SW PA and WV Appalachian dry-gas operator with ultra-low carbon intensity focus.
- Comstock Resources
Haynesville pure-play with Gulf Coast LNG access competing for the same buyers.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| EQT | $50.92 | +1.58% | $31.36B | 11.0 | 15.5 | 3.4 | −29.2% |
| Expand Energy | $87.92 | +0.30% | $20.29B | 7.6 | 11.1 | 1.5 | −19.8% |
| Antero Resources | $34.78 | +2.41% | $10.44B | 9.8 | 8.2 | 1.9 | +29.6% |
| Range Resources | $38.63 | +2.14% | $8.84B | 10.4 | 10.6 | 2.7 | +19.1% |
| CNX Resources | $32.90 | +0.37% | $4.85B | 5.4 | 9.8 | 2.0 | −35.7% |
| Comstock Resources | $13.57 | +4.22% | $3.82B | 7.5 | 36.5 | 2.0 | −24.9% |
| Median | 7.6 | 10.6 | 2.0 | −19.8% |