EQT Corporation (EQT): Citi Is Recommending This Data Center Stock Now

Insider Monkey08-15

We recently compiled a list of the 15 Best Data Center Stocks To Buy According to Jefferies, Citi and Wall Street Analysts. In this article, we are going to take a look at where EQT Corporation (NYSE:...

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Improving AI performance at the semiconductor level is important especially since some areas where data centers are growing are being forced to tu","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4503":"景林资产持仓","LU0149725797.USD":"汇丰美国股市经济规模基金","BK4574":"无人驾驶","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4561":"索罗斯持仓","BK4573":"虚拟现实","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","BK4581":"高盛持仓","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","LU0187121727.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) INC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","IE0004091025.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"B\" (USD) ACC","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","ETRN":"Equitrans Midstream Corp","BK4213":"石油与天然气的勘探与生产","LU0056508442.USD":"贝莱德世界科技基金A2","LU0048584097.USD":"FIDELITY FUNDS  GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) INC","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC","LU0080751232.USD":"富达环球多元动力基金A","BK4532":"文艺复兴科技持仓","BK4592":"伊斯兰概念","BK4144":"石油与天然气的储存和运输","LU0158827781.USD":" ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (USD) ACC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","BK4576":"AR","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","EQT":"EQT能源","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","BK4527":"明星科技股","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","BK4077":"互动媒体与服务","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC","BK4579":"人工智能","BK4588":"碎股","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC"},"translate_title":"殷拓集团（EQT）：花旗现在推荐这只数据中心股票","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ETRN":1,"EQT":1},"content_text":"We recently compiled a list of the 15 Best Data Center Stocks To Buy According to Jefferies, Citi and Wall Street Analysts. In this article, we are going to take a look at where EQT Corporation (NYSE:EQT) stands against the other data center stocks.\nThe boom in the interest surrounding artificial intelligence has not only affected semiconductor stocks, even though they're the biggest beneficiaries. While the chips that these companies make are indispensable for running AI workloads, they have to be housed somewhere, and this is where data centers come into play.\nIn fact, for the data center space, AI has only accelerated the growing demand this industry is seeing. Prior to AI GPUs and accelerators, enterprise computing chips made by the same companies that are now making AI chips were seeing hefty demand. This demand led to gaming GPU companies effectively being transformed into enterprise computing firms, with sectors such as the SaaS and cloud computing industries relying on these products. For some SaaS stocks, you should check out 10 Best SaaS Stocks To Buy Now.\nThis pre AI demand for data centers is visible in statistics too. Data from Jefferies shows that the demand growth for data centers has jumped by between 10% to 20% for the last 15 years, or before AI GPUs hit the market. As expected, AI has accelerated this demand, with the demand for data center space outpacing 30% in most markets for the past two years. This growth in real estate requirements also means that while the computing industry might be able to scale up by providing products like networking gear and cables, tertiary industries like energy generation will take some time to catch up.\nIf you're a believer in AI, then the optimistic line of thought would suggest that these tertiary firms will only grow in the future as they scale up their operations to meet the growth in AI data centers. After all, data from Goldman shows that a query made to ChatGPT consumes ten times as much energy as a Google search query - understandable since ChatGPT is parsing through data and drawing insights to generate a response. By 2030, AI is expected to grow data center power demand by as much as 160%, as data centers potentially account for 4% of global energy consumption and Europe in particular needs more than $1 trillion to power its AI grid.\nNaturally, since the US is responsible for ushering in AI, AI energy consumption in America is higher than that in other countries. According to the Boston Consulting Group, by 2030, AI power consumption will account for 16% of all of America's energy use. It is expected to grow by 15% to 20% annually and touch as much as 130 GW, or the amount of electricity that's used by 100 million homes. AI chip companies are also aware of these trends, with the latest AI chips promising to improve energy efficiency by 25x. Improving AI performance at the semiconductor level is important especially since some areas where data centers are growing are being forced to turn to coal power to reduce the power gap.\nNowhere is this clearer than in Northern Virginia, where data centers process 70% of the world's internet traffic. With more than 300 data centers that churn out more than $700 million in taxes annually, the region's computing centers are expected to require a whopping 11,000 megawatts of electricity annually by 2035 according to estimates by the local regulator. This demand has also spurred a $5.2 billion effort to lay down new transmission lines and keep coal power plants open for longer than initially planned.\nNot only does AI need real estate and power, but it also needs water. Since energy can neither be created nor destroyed, all the megawatts of power that AI chips need have to go somewhere. For the chips, it is dissipated in the form of heat, and cooling this requires copious amounts of water. Estimates show that not only does training GPT-3 evaporate a whopping 700,000 liters of drinkable water, but global AI demand by 2027 could end up using anywhere between 4.2 billion to 6.6 billion cubic meters of water.\nComing back to real estate, it might be the easiest way for the AI savvy investor to cash in on the world's thirst for computing. Citi believes that the \"development and construction of hyper-scale data center capacity will grow meaningfully over the next 7 years,\" as global industrial giants expand into the data center space. Not only are industrial firms actually converting their warehouses into data centers, but Citi adds that the associated power demand for these computing facilities will grow between the mid teens annually until 2030.\nSo, as these Wall Street firms lay out a maze of industries that will profit from AI, we decided to look at the top data center stocks to buy according to analysts.\nOur Methodology \nTo make our list of the top data center stocks to buy, we ranked the US listed holdings of Global X's data center ETF and the stocks chosen by Jefferies and Citi by the average analyst share price target percentage upside and picked out the stocks with the highest upside.\nFor these stocks, we also mentioned the number of hedge funds that had bought the shares in Q1 2024. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).\n A storage facility for natural gas, showing the vast reserves of this abundant energy source. \nEQT Corporation (NYSE:EQT)\nAverage Analyst Share Price Target Upside: 44%\nAverage Analyst Share Price Target: $44.11\nNumber of Hedge Fund Investors  in Q1 2024: 41\nEQT Corporation (NYSE:EQT) is a Pennsylvania based energy company that provides clean burning natural gas for energy production. It is a top Jefferies data center stock pick because of its ability to cleanly power up infrastructure. Since it is a commodities stock, EQT Corporation (NYSE:EQT)'s share performance depends on the volumes that it ships, the broader commodity pricing environment, its ability to keep costs under control, and its capital expenditure. EQT Corporation (NYSE:EQT) is currently looking to lower its value chain costs as it acquired midstream firm Equitrans in March 2024. Since EQT Corporation (NYSE:EQT) is a gas producer, and Equitrans shipped gas, by buying the firm EQT hopes to leverage economies of scale to its advantage in an environment where gas companies have struggled because of low prices. However, the acquisition also increases EQT Corporation (NYSE:EQT) debt and capital expenditure, at a time when its cash flow is struggling.\nLegacy Ridge Capital mentioned EQT Corporation (NYSE:EQT) in its Q2 2024 investor letter. Here is what the firm said:\n\n\"Lastly, we wrote about Equitrans Midstream (ETRN) in the 2023 mid-year letter, primarily discussing that company’s long and expensive journey completing the Mountain Valley Pipeline and the short-term opportunity we took advantage of. After all the hand wringing and stress with respect to that one project the whole business will end up right where it started, as part of EQT Corp. (EQT). In March, EQT announced they are acquiring each ETRN share for .3504 EQT shares. The transaction should close within the next several weeks.\nEQT is the top natural gas producer in the United States with a dominant position in the Appalachian Basin and will become one of the lowest cost gas producers in the US, if not the lowest, after consummating this merger. Our fund is going to exchange the ETRN shares and become EQT owners. The investment checks important boxes for us: 1) a disciplined management team focused on tangible value creation; 2) an ability to generate significant FCF that gets returned to shareholders; 3) exposure to a commodity with strong secular demand trends, which gives us a call-option on higher prices. At only 5% of our assets it will start as a small position for us, but with natural gas prices volatile and back in the low-$2’s we should have ample opportunity to exploit the volatility over time and hopefully make it bigger.\"\n\nOverall EQT ranks 8th on our list of the best data center stocks to buy. While we acknowledge the potential of EQT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than EQT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.\nREAD NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.\nDisclosure: None. This article is originally published at Insider Monkey.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2459434915"}