Each one in plain English, with the numbers worked through for a shareholder.
25 Mar 2019agm notice● Neutral
EQT released an updated analyst presentation for the Scotia Howard Weil energy conference in New Orleans. It highlighted its free cash flow outlook of $300-400 million for 2019, cost savings, and the new COO, Gary Gould.
EQT told employees that Toby Rice had nominated nine director candidates for the 2019 annual meeting. The letter said it was business as usual and that the board would review the candidates.
EQT confirmed that Toby Rice had submitted a notice nominating nine director candidates for its 2019 annual meeting, set for July 10. The board said it would review the candidates and defended its strategy and cost-cutting progress.
EQT reported a fourth quarter 2018 net loss from continuing operations of $598 million, versus income of $1,277 million a year earlier, mainly due to impairments and derivative losses. Full-year 2018 sales volume was 1,488 Bcfe and net cash from operations rose 82%.
T. ROWE PRICE ASSOCIATES, INC, T. ROWE PRICE MID-CAP VALUE FUND, INC reported a EQT Corp shareholding of 25,549,216 shares (10.00% of votes) in a periodic institutional filing.
EQT Corporation filed a Schedule 13G reporting it holds 50,599,503 shares, about 19.9%, of Equitrans Midstream Corporation, retained after the November 2018 spin-off. It has no voting power over them because of a proxy granted to Equitrans.
EQT reported preliminary fourth quarter 2018 production of 394 Bcfe, up 5% on the third quarter, and full-year development capex of $2.5 billion. It forecast 2019 capex of $1.9-2.0 billion and about $350 million of adjusted free cash flow.