EQT Expected to Deliver Positive Q2 on Strong Production, UBS Says

EQT (EQT) is expected to post another positive Q2 update as production tracks near the high end of guidance on strong operations and reduced curtailments despite softer natural gas prices, UBS Securities said Wednesday in a report. Q2 production is expected around 606 billion cubic feet equivalent with cash flow per share of $1.76, the report said. Stronger operational performance should largely offset lower Henry Hub pricing and slightly wider regional basis differentials, while progress on supply agreements and midstream growth investments remains a "key positive differentiator," UBS said. Q2 results are expected July 21. EQT remains on track to reduce debt to $5 billion by the end of 2026, supporting a boost in shareholder returns, including an estimated $2 billion in stock buybacks in 2027, the report said. UBS lowered its price target on EQT stock to $73 from $74 to reflect a reduced 2026 Henry Hub gas price forecast and reiterated its buy rating. Price: $51.37, Change: $-0.39, Percent Change: -0.75%