EQT CORPORATION

(EQT)
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Delayed Nyse  -  04:00 2022-08-18 pm EDT
48.24 USD   +2.40%
10:15aMizuho Securities Adjusts Price Target on EQT to $59 From $55, Maintains Buy Rating
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08/08EQT CORPORATION : Ex-dividend day for
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07/28Management's Discussion and Analysis of Financial Condition and Results of Operations Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
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EQT Corporation Enters into A Third Amended and Restated Credit Agreement

06/28/2022 | 05:23pm EDT

On June 28, 2022, EQT Corporation entered into a Third Amended and Restated Credit Agreement (the “Credit Agreement”) with the lenders party thereto (the “Lenders”) and PNC Bank, National Association, as Administrative Agent, Swing Line Lender and L/C Issuer, amending and restating that certain Second Amended and Restated Credit Agreement, dated as of July 31, 2017, among the Company, the lenders party thereto and PNC Bank, National Association, as Administrative Agent, Swing Line Lender and L/C Issuer, as amended from time to time. Under the Credit Agreement, the Company may obtain unsecured loans in an aggregate principal amount not to exceed $2,500,000,000 outstanding at any time. The Credit Agreement matures on June 28, 2027 (the “Stated Maturity Date”), but the Company may request two one-year extensions of the Stated Maturity Date, subject to satisfaction of certain conditions. Commitments under the Credit Agreement may be increased by up to $500,000,000, subject to the agreement of the Company and new or existing Lenders. Under the terms of the Credit Agreement, the Company can obtain Base Rate Loans (as defined in the Credit Agreement) or Term SOFR Rate Loans (as defined in the Credit Agreement). Base Rate Loans are denominated in dollars and bear interest at a Base Rate (as defined in the Credit Agreement) plus a margin ranging from 0 basis points to 125 basis points determined on the basis of the Company's then current credit ratings. Term SOFR Rate Loans bear interest at a Term SOFR Rate (as defined in the Credit Agreement) plus an additional 10 basis point credit spread adjustment plus a margin ranging from 100 basis points to 225 basis points determined on the basis of the Company's then current credit ratings. The Company is obligated to repay the aggregate principal amount of any outstanding Base Rate Loans or Term SOFR Rate Loans on the earlier of the Stated Maturity Date or the effective date of any other termination, cancellation or acceleration of the Lenders' commitments under the Credit Agreement. The Company may voluntarily prepay its borrowings, in whole or in part, without premium or penalty, but subject to reimbursement of funding losses with respect to prepayment of Term SOFR Rate Loans. The proceeds of the loans made under the Credit Agreement may be used by the Company for working capital, capital expenditures, share repurchases, and other lawful corporate purposes (including repayment and refinancing of indebtedness). The Credit Agreement contains certain representations and warranties and various affirmative and negative covenants and events of default, including, among other things, (i) a restriction on the ability of the Company or certain of its subsidiaries to incur or permit liens on assets, subject to certain significant exceptions, (ii) a restriction on the ability of certain of the Company's subsidiaries to incur debt, subject to certain significant exceptions, (iii) the establishment of a maximum ratio of consolidated debt to total capital of the Company and its subsidiaries that are subject to the restrictions of the Credit Agreement such that consolidated debt shall not exceed 65% of total capital as of the end of any fiscal quarter, (iv) a limitation on certain changes to the Company's business, and (v) certain restrictions related to mergers and sales of all or substantially all of the Company's assets.


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All news about EQT CORPORATION
10:15aMizuho Securities Adjusts Price Target on EQT to $59 From $55, Maintains Buy Rating
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Analyst Recommendations on EQT CORPORATION
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Financials (USD)
Sales 2022 5 997 M - -
Net income 2022 338 M - -
Net Debt 2022 3 731 M - -
P/E ratio 2022 103x
Yield 2022 1,13%
Capitalization 17 847 M 17 847 M -
EV / Sales 2022 3,60x
EV / Sales 2023 2,24x
Nbr of Employees 693
Free-Float 99,5%
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Mean consensus BUY
Number of Analysts 21
Last Close Price 48,24 $
Average target price 56,86 $
Spread / Average Target 17,9%
EPS Revisions
Managers and Directors
Toby Z. Rice President, Chief Executive Officer & Director
David Michael Khani Chief Financial Officer
Lydia I. Beebe Independent Chairman
Richard Anthony Duran Chief Information Officer
Anita M. Powers Independent Director
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