EQT (EQT) stock is drawing attention after the company reported fourth quarter results that exceeded Wall Street profit estimates, supported by higher natural gas demand from data centers and liquefied natural gas exports.

Despite the upbeat quarter, EQT's recent share price return shows pressure, with the stock down 11% over the past month and 20.95% over the last 90 days, while the 5 year total shareholder return of 164.80% still reflects strong longer term gains.

If rising data center and energy demand has your attention, this could be a good moment to look beyond EQT and see what else is moving in the energy value chain through the 34 power grid technology and infrastructure stocks

With EQT stock down in recent months despite a 5 year total shareholder return of 164.80% and quarterly results that topped expectations, the key question now is whether today’s price offers upside or if the market already reflects future growth.

Most Popular Narrative: 27% Undervalued

Compared with EQT stock's last close at $51.13, the most followed narrative pegs fair value near $70, implying a sizeable valuation gap investors are debating.

The ramp-up of large-scale, long-term (20-year) natural gas supply contracts to new AI data centers and power generation facilities in Appalachia, beginning in 2027-2028, positions EQT to capture outsized in-basin demand growth from electrification and digital infrastructure, creating predictable, high-quality revenue and substantially increasing upstream and midstream free cash flow.

Want to see what sits behind that fair value for EQT? The narrative leans heavily on measured revenue growth, firm margins, and a richer future earnings multiple. The exact mix of those assumptions might surprise you.

Result: Fair Value of $70.04 (UNDERVALUED)

However, EQT stock holders still need to weigh decarbonization policies that could curb long term gas demand, as well as regulatory or permitting setbacks that might raise costs or delay projects.

Next Steps

If the mixed mood around EQT has you thinking, this is the time to stress test the numbers yourself and see what stands out, especially the 4 key rewards

Looking for more investment ideas beyond EQT stock?

If EQT has sharpened your focus on opportunities, do not stop here. Broaden your watchlist with targeted stock ideas that match different goals and risk levels.

• Chase potential upside with companies that look beaten down yet financially robust by scanning 47 high quality undervalued stocks.
• Strengthen your income stream by reviewing stocks screened for reliable, higher-yield payouts using the 8 dividend fortresses.
• Prioritise resilience and sleep-better-at-night holdings by checking companies highlighted in the 65 resilient stocks with low risk scores.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.