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Utility Bills Are Soaring. How An Analyst Expects To Capitalize With 40% Returns Into 2023
Utility Bills Are Soaring. How An Analyst Expects To Capitalize With 40% Returns Into 2023
EQT Corporation (NYSE:EQT), a Pittsburgh-based natural gas company, is poised to generate significant free cash flows (FCF) next year with a high-end FCF yield at 30%.
The BMO Capital Analyst: Phillip Jungwirth upgraded the rating from Market Perform to Outperform and raised the price target from $50 to $65.
The EQT Takeaways: Following EQT's $5.2 billion acquisition of Tug Hill, an oil and gas exploration company, the analyst expects EQT to reach a free cash flow inflection in 2023 as hedges roll off and financial performance reflects improved operating costs, better capital efficiency and lower leverage.
Jungwirth expects near- and long-term gas prices to remain elevated, contributing to the rise in price forecast and free cash flow generation. The analyst forecasts EQT's free cash flow range to double from $3 billion in 2022 to between $6 billion and $7.7 billion in 2023.
Additionally, Jungwirth believes EQT shares are undervalued compared to peers and a premium is warranted, which may not be fully realized until 2023.
Key Catalyst: As hedges of $6.1 billion roll off, EQT should see a step-up in free cash flows enabling it to increase capital returns with a $28 billion buyback upside potential. A $5/$0.25 (oil/gas) positive change to current strip commodity price forecasts could result in an upside scenario of $75 per share.
Furthermore, utility bills are set to rise across the U.S., as the Russia-Ukraine war has contributed to the global supply shortage of oil and gas, sending natural gas prices to more than double in the past year.
Due to supply constraints, utility companies are already seeking approval for rate hikes ahead of the winter season. During testimony before the Indiana Utility Regulatory Commission, an AES Corp (NYSE:AES) official said there could be "an increase of $24.39 or 18.90%, for an average residential [Indiana] customer using 1,000 kWh per month" with the majority of the hike coming from the projected increase in fuel costs.
Check Out: The Analyst Ratings Page That Has Analyst Accuracy Ratings Above 80%
Competitors: Jungwirth recommends Antero Resources Corp (NYSE:AR) and Chesapeake Energy (NYSE:CHK) as the top-performing natural gas picks with more upside in 2022.
On the other hand, EQTs 2023 outlook and valuation are equally or more compelling, while near and long-term gas price forecasts have improved, Jungwirth commented.
Photo: Michael Schwarzenberger from Pixabay
EQT Corporation (NYSE:EQT), a Pittsburgh-based natural gas company, is poised to generate significant free cash flows (FCF) next year with a high-end FCF yield at 30%.
EQT公司總部位於匹茲堡的天然氣公司(紐約證券交易所股票代碼:EQT)準備明年產生可觀的自由現金流(FCF),高端自由現金流收益率為30%。
The BMO Capital Analyst: Phillip Jungwirth upgraded the rating from Market Perform to Outperform and raised the price target from $50 to $65.
蒙特利爾銀行資本分析師: Phillip Jungwirth將評級從市場表現上調至表現優於大盤,並將目標價從50美元上調至65美元。
The EQT Takeaways: Following EQT's $5.2 billion acquisition of Tug Hill, an oil and gas exploration company, the analyst expects EQT to reach a free cash flow inflection in 2023 as hedges roll off and financial performance reflects improved operating costs, better capital efficiency and lower leverage.
EQT要點:繼EQT以52億美元收購塔格山這位分析師預計,隨着套期保值的滾動,以及財務表現反映出運營成本的改善、資本效率的提高和槓桿率的降低,EQT將在2023年達到自由現金流拐點。
Jungwirth expects near- and long-term gas prices to remain elevated, contributing to the rise in price forecast and free cash flow generation. The analyst forecasts EQT's free cash flow range to double from $3 billion in 2022 to between $6 billion and $7.7 billion in 2023.
Jungwirth預計近期和長期天然氣價格將保持在較高水平,這將有助於價格預測的上升和自由現金流的產生。該分析師預測,EQT的自由現金流範圍將從2022年的30億美元翻一番,到2023年達到60億至77億美元。
Additionally, Jungwirth believes EQT shares are undervalued compared to peers and a premium is warranted, which may not be fully realized until 2023.
此外,Jungwirth認為,與同行相比,EQT的股票被低估了,溢價是有必要的,這可能要到2023年才能完全實現。
Key Catalyst: As hedges of $6.1 billion roll off, EQT should see a step-up in free cash flows enabling it to increase capital returns with a $28 billion buyback upside potential. A $5/$0.25 (oil/gas) positive change to current strip commodity price forecasts could result in an upside scenario of $75 per share.
主要推動者:隨着61億美元的對衝,EQT應該會看到自由現金流的增加,使其能夠以280億美元的回購潛力增加資本回報。對當前帶狀大宗商品價格預測的5美元/0.25美元(石油/天然氣)積極變化可能導致每股75美元的上行情景。
Furthermore, utility bills are set to rise across the U.S., as the Russia-Ukraine war has contributed to the global supply shortage of oil and gas, sending natural gas prices to more than double in the past year.
更進一步的是rE,全美的公用事業賬單將會上升,由於俄烏戰爭導致全球石油和天然氣供應短缺,導致天然氣價格在過去一年裏上漲了一倍多。
Due to supply constraints, utility companies are already seeking approval for rate hikes ahead of the winter season. During testimony before the Indiana Utility Regulatory Commission, an AES Corp (NYSE:AES) official said there could be "an increase of $24.39 or 18.90%, for an average residential [Indiana] customer using 1,000 kWh per month" with the majority of the hike coming from the projected increase in fuel costs.
由於供應緊張,公用事業公司已經在尋求在冬季之前加息的批准. 在法庭作證期間印第安納州公用事業監管委員會,一個美國國家航空航天局(紐約證券交易所股票代碼:AES)一位官員表示,普通住宅的價格可能會上漲24.39美元或18.90%[印第安納州]客户每月使用1,000千瓦時“,增加的主要原因是燃料成本的預期增加。
Check Out: The Analyst Ratings Page That Has Analyst Accuracy Ratings Above 80%
查看:分析師準確率評級超過80%的分析師評級頁面
Competitors: Jungwirth recommends Antero Resources Corp (NYSE:AR) and Chesapeake Energy (NYSE:CHK) as the top-performing natural gas picks with more upside in 2022.
競爭對手:Jungwirth推薦Antero Resources Corp(紐約證券交易所代碼:AR)和切薩皮克能源(紐約證券交易所股票代碼:CHK)作為表現最好的天然氣,2022年將有更多上漲空間。
On the other hand, EQTs 2023 outlook and valuation are equally or more compelling, while near and long-term gas price forecasts have improved, Jungwirth commented.
另一方面,EQTS 2023年的前景和估值同樣或更具説服力,而近期和長期天然氣價格預測有所改善,Jungwirth評論道。
Photo: Michael Schwarzenberger from Pixabay
圖片來源:來自Pixabay的Michael Schwarzenberger
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.,Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc和Moomoo Securities Malaysia Sdn. Bhd., 是關聯公司。
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