Latest news with #naturalgas
Reuters
3 hours ago
- Business
- Reuters
EQT beats profit estimates on higher natgas prices, sales volumes
July 22 (Reuters) - EQT Corp (EQT.N), opens new tab beat Wall Street estimates for second-quarter adjusted profit on Tuesday as the U.S. energy company benefited from stronger natural gas prices and sales volumes, sending its shares up 1.2% in extended trading. The company also raised its full-year production forecast to reflect the $1.8 billion acquisition of Olympus Energy. "We are seeing tremendous momentum for in-basin natural gas power and data center demand and EQT is uniquely positioned to capitalize on this set-up," said CEO Toby Rice. The energy sector has been riding a rise in demand for natural gas, fueled by LNG exports and increasing power consumption due to hotter temperatures and data center operations. Higher natural gas prices through 2025 compared with last year have also supported production levels, according to the U.S. Energy Information Administration (EIA). During the quarter, EQT's average realized price for natural gas jumped 20.6% year-over-year to $2.81 per thousand cubic feet equivalent (Mcfe). In April, EQT announced plans to reduce capital spending but produce more energy in 2025, attributing the decision to strong well performance, efficiency gains and synergies from the company's purchase of Equitrans Midstream, opens new tab in 2024. The Pittsburgh, Pennsylvania-based company now expects annual production of between 2,300 and 2,400 billion cubic feet equivalent (Bcfe), from 2,200 to 2,300 Bcfe previously. Total sales volume in the second quarter was 568,227 million cubic feet equivalent (MMcfe), compared with 507,512 MMcfe a year earlier. It expects total sales volume in the July-September quarter to be between 590 and 640 Bcfe. EQT is predominantly engaged in the exploration and production of natural gas, primarily in the Appalachian Basin, spanning Ohio, Pennsylvania and West Virginia. The company reported adjusted profit of 45 cents per share for the quarter ended June 30, above analysts' average estimate of 41 cents per share, according to data compiled by LSEG.
Yahoo
5 hours ago
- Business
- Yahoo
EQT Corp. (EQT) Falls Alongside NatGas Prices
We recently published . EQT Corp. (NYSE:EQT) is one of the biggest losers on Monday. Energy company EQT Corp. saw its share prices drop by 9.55 percent on Monday to close at $53.54 apiece as investor sentiment was weighed down by the continuous drop in natural gas prices. Based on data from Bloomberg, US natural gas futures were down by 0.03 percent $3.32/MMBtu, reversing some of last week's gains due to higher supply and weak demand from the cooling weather. Month-to-date, prices of natural gas prices are down by 3 percent, while year-to-date also marked a decline of 15.4 percent. Last week, EQT Corp. (NYSE:EQT) announced that its Board of Directors approved the distribution of $0.1575 cash dividends to shareholders as of August 6. The dividends will be payable on September 2, 2025. A storage facility for natural gas, showing the vast reserves of this abundant energy source. Additionally, EQT Corp. (NYSE:EQT) is set to announce the results of its second quarter earnings performance today, July 22, after market close. A conference call will follow on Wednesday, July 23, at 10 AM Eastern Time. While we acknowledge the potential of EQT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
6 hours ago
- Business
- Bloomberg
Invenergy to Add Gas to Its Contested $11 Billion US Power Line
Invenergy, the closely held developer that wants to build a power line in the US Midwest, is connecting a natural gas plant to its proposed $11 billion US transmission project after facing backlash from Republican lawmakers over ties to wind energy. The company now has plans to connect a gas plant to the Grain Belt Express power line and is also in talks to add coal-fired generation, according to people familiar with the plans who asked not to be named discussing a private matter. Axios reported the plan earlier.
Reuters
8 hours ago
- Business
- Reuters
US companies CPS Energy, Modern Hydrogen agree to work on clean power generation project
July 22 (Reuters) - Texas-based utility firm CPS Energy on Tuesday said it entered into an agreement with energy company Modern Hydrogen on a new project to explore the potential for increasing electricity grid resiliency and enabling cleaner power generation from natural gas. "CPS Energy will pilot Modern Hydrogen's technology to convert natural gas into clean hydrogen as an ongoing gas-decarbonization service," CPS Energy said in a statement. Instead of burning natural gas and managing the resulting carbon dioxide emissions, Modern Hydrogen, which is based in Seattle, employs a process that breaks down the hydrocarbons in natural gas to produce hydrogen and solid carbon, CPS Energy said. "The solid carbon is captured and reused in products like asphalt for infrastructure projects," it added. CPS Energy has over 950,000 electric and 389,000 natural gas customers in San Antonio and portions of seven adjoining counties.
Yahoo
13 hours ago
- Business
- Yahoo
What to Expect From Coterra Energy's Q2 2025 Earnings Report
Valued at a market cap of $18.6 billion, Coterra Energy Inc. (CTRA) is an independent oil and gas company headquartered in Houston, Texas. It explores, develops, and produces oil, natural gas, and natural gas liquids. The company is expected to announce its fiscal Q2 earnings for 2025 after the market closes on Monday, Aug. 4. Ahead of this event, analysts expect this energy company to report a profit of $0.42 per share, up 20% from $0.35 per share in the year-ago quarter. The company has topped Wall Street's earnings estimates in two of the last four quarters, while missing on two other occasions. In Q1, CTRA's EPS of $0.78 outpaced the forecasted figure by 2.6%. More News from Barchart Nat-Gas Prices Sink on the Outlook for Cooler US Temps and Higher Gas Production Crude Oil Prices Pressured by Concerns of Oversupply Crude Oil Prices Slip on Concerns of a Mounting Global Oil Supply Glut Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! For fiscal 2025, analysts expect Coterra Energy to report a profit of $2.49 per share, up 54.7% from $1.61 per share in fiscal 2024. Furthermore, its EPS is expected to grow 18.1% year-over-year to $2.94 in fiscal 2026. CTRA has declined 13.8% over the past 52 weeks, underperforming both the S&P 500 Index's ($SPX) 14.5% uptick and the Energy Select Sector SPDR Fund's (XLE) 7.9% drop over the same time frame. On May 5, Coterra Energy released mixed Q1 results, and its shares plunged 9.3% in the following trading session. The company's revenue grew 32.9% year-over-year to $1.9 billion, but missed the consensus estimates by 2.1%. Additionally, CTRA lowered its fiscal 2025 capital budget range to $2 billion to $2.3 billion, driven by less oil-directed activity, which might have further dampened investor confidence. However, on the brighter side, its adjusted EPS of $0.80 improved 56.9% from the prior-year quarter, topping Wall Street estimates by 2.6%. Wall Street analysts are highly optimistic about CTRA's stock, with an overall "Strong Buy" rating. Among 23 analysts covering the stock, 16 recommend "Strong Buy," two indicate "Moderate Buy,' and five suggest "Hold.' The mean price target for CTRA is $33.39, implying a 44.6% potential upside from the current levels. On the date of publication, Neharika Jain did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
