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EQT Announces Pricing of Secondary Common Stock Offering

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EQT Corporation EQT announced that it has priced 25,930,000 shares of its common stock that certain shareholders are offering.

The offering is priced at $20 per share. The underwritten public offering of the stocks is likely to get consummated on Oct 1, awaiting customary closing conditions. The underwriters are being granted a 30-day option, by the selling shareholders, for purchasing up to an additional 3,889,500 shares of the common stocks of the leading natural gas producer.

The company will not get the proceeds from the stock offering since the stocks are being offered by the selling shareholders, who got the shares as a result of the acquisition of all of the membership interests in Alta's upstream and midstream subsidiaries by EQT.

Headquartered in Pittsburgh, PA, EQT has a strong footprint in the prolific Marcellus and Utica Shales in the Appalachian Basin. The company is well-positioned to gain from the surge in natural gas price.

The company has been recognizing climate change as a serious risk that needs to be addressed. By or before 2050, EQT is targeting the achievement of net-zero Scope 1 & Scope 2 greenhouse gas (GHG) emissions.

EQT Corporation Price

EQT Corporation Price
EQT Corporation Price

EQT Corporation price | EQT Corporation Quote

Currently, the company carries a Zacks Rank #3 (Hold). Meanwhile, a few better-ranked players in the energy space include Whiting Petroleum Corporation WLL, Continental Resources, Inc. CLR and Range Resources Corporation RRC. All the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days.

Continental is expected to witness earnings growth of 428.2% in 2021.

Range Resources has seen upward earnings estimate revisions for 2021 in the past 30 days.


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