Edition:
United States

EQT Corp (EQT.N)

EQT.N on New York Stock Exchange

64.95USD
20 Sep 2017
Change (% chg)

$0.83 (+1.29%)
Prev Close
$64.12
Open
$64.54
Day's High
$65.01
Day's Low
$64.50
Volume
24,197
Avg. Vol
930,301
52-wk High
$75.72
52-wk Low
$49.64

Latest Key Developments (Source: Significant Developments)

D. E. Shaw & Co LP ‍sends letter to EQT board ​
Thursday, 14 Sep 2017 06:00am EDT 

Sept 14 (Reuters) - EQT Corp ::D. E. Shaw & Co LP says ‍sent a letter to board of directors of EQT ​.‍D. E. Shaw & Co L.P - own about 4.0 percent interest in common stock and equivalents of eqt corporation​.D. E. Shaw & Co LP says ‍calls on eqt to complete plan provided by D. E. Shaw by first half of 2018​.D. E. Shaw & Co LP says "‍calls on EQT to appoint independent directors with relevant executive midstream experience to help oversee plan execution​".D. E. Shaw & Co l.P​ says ‍following consummation of rice acquisition, EQT corporation should separate into EQT production and EQT midstream.D. E. Shaw & Co LP says ‍believe that EQT Corp is "substantially undervalued"​.‍D. E. Shaw & Co LP says EQT's plan should also consist of restructuring of midstream businesses through a merger of EQM and RMP​ ‍​.  Full Article

EQT Corp amended and restated existing unsecured $1.5 billion
Thursday, 3 Aug 2017 08:57am EDT 

Aug 3 (Reuters) - EQT Corp ::EQT Corp - on July 31, co amended and restated existing unsecured $1.5 billion amended and restated revolving credit agreement, dated February 18, 2014‍​.EQT Corp - under second amended, restated credit agreement,may obtain loans in aggregate principal amount not to exceed $1.5 billion outstanding at any time​.EQT Corp - ‍second amended and restated credit agreement matures on July 31, 2022 .EQT-‍from & after closing of co's acquisition of rice energy,commitments of lenders under second amended & restated credit agreement to rise to $2.5 billion.  Full Article

Rice Energy Q2 earnings per share $0.30
Wednesday, 2 Aug 2017 04:05pm EDT 

Aug 2 (Reuters) - Rice Energy Inc ::Rice Energy reports second quarter 2017 results and updates 2017 capital budget.Q2 earnings per share $0.30.Q2 earnings per share view $0.14 -- Thomson Reuters I/B/E/S.Rice Energy Inc - ‍updating 2017 drilling and completion capital budget to reflect well costs continuing to trend below budget​.Rice Energy Inc - ‍decreased d&c capital budget from $1,035 million to $965 million, a decrease of 7%​ for fy.Rice Energy - ‍increased land budget from $225 million to $245 million and also expect to spend an additional $115 million on royalty acquisitions in fy ​.Rice Energy - ‍in light of pending merger with eqt, co has discontinued providing guidance and long-term outlook​.Rice Energy - qtrly ‍net production averaged 1,354 mmcfe/d, a 6 pct increase from q1 2017​.Rice Energy - qtrly total operating revenues $398.3 million versus $156 million.Q2 revenue view $360.3 million -- Thomson Reuters I/B/E/S.  Full Article

Jana Partners, in a letter to EQT, "to continue to oppose Rice Energy transaction​"
Monday, 31 Jul 2017 09:41am EDT 

July 31 (Reuters) - EQT Corp :Jana Partners LLC, in a letter to EQT, says intends to continue to oppose Rice Energy transaction​ - SEC filing.Jana Partners says continue to believe that it may be necessary to add new members to EQT board.Jana Partners Llc reports a stake of 5.8 percent in EQT Corp as of July 31​.Jana Partners says it is prepared, if necessary, to nominate independent nominees to EQT Corp's board.  Full Article

EQT reports second quarter 2017 earnings
Thursday, 27 Jul 2017 06:31am EDT 

July 27 (Reuters) - Eqt Corp : :EQT reports second quarter 2017 earnings.Sees total production sales volume for Q3 2017 205 – 210 BCFE.Sees total production sales volume for FY 2017 825 – 840 BCFE.Q2 earnings per share $0.24.Q2 revenue $631.1 million versus I/B/E/S view $664.7 million.Q2 earnings per share view $0.08 -- Thomson Reuters I/B/E/S.Q2 adjusted earnings per share $0.06.EQT production achieved sales volume of 198.1 Bcfe in the second quarter 2017, representing a 7 percent increase over Q2 last year.Company's 2017 sales volume guidance has been reduced by 10 - 15 Bcfe as a result of suspension of company's Utica Test Program​.In anticipation of merger with Rice Energy, EQT has suspended its Utica Test Program​.Rice Energy transaction is expected to close in Q4 of 2017​.Operating revenue totaled $631.1 million for the second quarter 2017, which was $554.1 million higher than the second quarter 2016.EQT Corp sees ‍full year total liquids sales volume 19,050 - 19,650 Mbbls​.Eqt corp sees q3 total liquids sales volume 4,805 - 4,835 Mbbls​.  Full Article

EQT Midstream Partners and EQT GP Holdings increase quarterly distributions
Tuesday, 25 Jul 2017 04:05pm EDT 

July 25 (Reuters) - EQT GP Holdings Lp :EQT Midstream Partners and EQT GP Holdings increase quarterly distributions.EQT Midstream Partners LP - declared a quarterly cash distribution of $0.935 per unit for Q2 of 2017.EQT Midstream Partners LP - new quarterly cash distribution is 5 pct higher than Q1 of 2017.  Full Article

Jana Partners reports 5.8 pct stake in EQT Corp - SEC filing
Monday, 3 Jul 2017 10:02am EDT 

July 3 (Reuters) - Jana Partners LLC::Jana Partners LLC reports 5.8 percent stake in EQT Corp as of June 23 - SEC filing.Acquired EQT shares because they believe shares are undervalued and represent an attractive investment opportunity.Also prepared, if necessary, to nominate individuals for election to EQT Corp's board and to participate in solicitation of proxies.Intends to have discussions with EQT regarding pursuing immediate breakup of EQT into separately traded E&P business, midstream business.Intends to have discussions with EQT’s shareholders, board, management regarding voting against shareholder approval of Rice Energy Acquisition.Intends to have discussions with EQT’s shareholders, board, management, other interested parties regarding board structure, composition​.  Full Article

Jana takes roughly 5 percent stake in energy company EQT - WSJ, citing sources
Monday, 3 Jul 2017 08:50am EDT 

July 3 (Reuters) - :Jana takes roughly 5% stake in energy company EQT - WSJ, citing sources.  Full Article

EQT agrees to increase size of board to 13 directors after Rice Energy merger
Monday, 19 Jun 2017 05:16pm EDT 

June 19 (Reuters) - EQT Corp ::EQT says co agreed, subject to approval of shareholders, to increase size of board to 13 directors upon effective time of merger with Rice Energy - SEC filing.EQT Corp - upon termination of deal under certain specified circumstances, co may be required to pay Rice, or Rice to pay co, a termination fee of $255 million.EQT Corp - also agreed, Daniel J. Rice IV and Robert F. Vagt to become members of EQT board upon effective time of merger.EQT - if co does not receive shareholder approval to increase board size, co to increase size of its board to 12 directors, appoint either Rice or Vagt.EQT - if deal terminated because of failure of a party's shareholders to approve proposals, party to reimburse other party in amount equal to $67 million.EQT Corp - in connection with deal, co entered commitment letter with citigroup global markets inc.EQT - pursuant to commitment letter, citi committed to provide, subject to customary closing conditions, up to $1.4 billion of senior unsecured bridge loans.  Full Article

EQT Corp to acquire Rice Energy for $6.7 billion
Monday, 19 Jun 2017 07:54am EDT 

June 19 (Reuters) - Eqt Corp :Eqt corporation to acquire rice energy for $6.7 billion.Eqt corporation to acquire rice energy for $6.7 billion.Eqt corp - deal consisting of 0.37 shares of eqt common stock and $5.30 in cash per share of rice common stock.Eqt corp - eqt will also assume or refinance approximately $1.5 billion of net debt and preferred equity.Eqt corp - eqt will also assume or refinance approximately $1.5 billion of net debt and preferred equity.Eqt corp - transaction is expected to close in q4 of 2017.Eqt corp says boards of directors of both companies have unanimously approved transaction.Eqt corp - eqt will also obtain rice's midstream assets, including a 92% interest in rice midstream gp holdings lp.Eqt corp - boards of directors of both companies have unanimously approved transaction.Eqt - retained midstream assets, which eqt intends to sell to eqm in future through drop-down deal, are expected to generate about $130 million of ebitda in 2018.  Full Article

Hedge fund DE Shaw urges EQT to split after Rice Energy deal

Hedge fund D.E. Shaw & Co LP on Thursday urged EQT Corp , which is buying Rice Energy Inc in a $6.7 billion deal, to split into two parts after the deal and to speed up efforts to boost the company's stock price.