T. Rowe Price Associates, Inc. (I.. recently announced the acquisition of new stake in EQT Corporation (NYSE:EQT). The institutional investor has increased its shareholding in the Energy company by 1.67% to 29.22 million shares with purchase of 0.48 million shares. This fresh investment now brings its stake to 11.43% valued currently at $424.29 million. In addition, Dimensional Fund Advisors LP raised its holdings by 3.95 million to 10.15 million shares. And Fidelity Management & Research Co.. has lifted its position by 9.68% or 0.82 million shares – to 9.34 million shares.
With over 2.37 million EQT Corporation (EQT) shares trading Tuesday and a closing price of $15.60 on the day, the dollar volume was approximately $36.94 million. The shares have shown a negative weekly performance of -4.70% and its price on 09/01/20 lost nearly -1.70%. Currently, there are 255.52M common shares owned by the public and among those 252.65M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for EQT have a consensus price objective of $18.13. The analysts have set the share’s price value over the next 12 months at a high of $26.00 and a low of $12.00 should the stock experience a downside. Incidentally, analysts’ outlook for the EQT Corporation stock is 2.20 for the next 12 months. The average price target is 13.19% above its last price level and an upside to the estimated low will see the stock lose -30.0% over that period. But an upside of 40.0% will see the stock hit the forecast high price target while mean target price for the stock is $17.00.
Insiders at the company have transacted a total of 14 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 534,300 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in EQT Corporation are T Rowe Price Mid Cap Value Fund, Caisse de Dépôt & Placement du Qu, and Alecta Pension. T Rowe Price Mid Cap Value Fund owns 18.9 million shares of the company’s stock, all valued at over $274.44 million. The company bought an additional 32700.0 shares recently to bring their total holdings to about 7.40% of the shares outstanding. Alecta Pension bought 8.2 million shares to bring its total holdings to over 8.2 million shares at a value of $119.11 million. Alecta Pension now owns shares totaling to 3.21% of the shares outstanding.
Shares of EQT Corporation (NYSE: EQT) opened at $15.62, down -$0.25 from a prior closing price of $15.87. However, the script later closed the day at $15.60, down -1.70%. The company’s stock has a 5-day price change of -4.70% and 12.47% over the past three months. EQT shares are trading 43.12% year to date (YTD), with the 12-month market performance up to 55.69% higher. It has a 12-month low price of $4.21 and touched a high of $17.97 over the same period. Currently, 2.37 million shares have been traded, compared to an average intraday trading volume of 5.22 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.65%, 8.88%, and 41.72% respectively.
Institutional ownership of EQT Corporation (NYSE: EQT) shares accounts for 96.70% of the company’s 255.52M shares outstanding. Mutual fund holders own 40.73%, while other institutional holders and individual stakeholders account for 60.80% and 1.91% respectively.
It has a market capitalization of $4.02B and a beta (3y monthly) value of 1.50. The earnings-per-share (ttm) stands at -$7.71. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.38% over the week and 5.22% over the month.
Analysts forecast that EQT Corporation (EQT) will achieve an EPS of -$0.23 for the current quarter, $0 for the next quarter and $0.31 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.43 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was -$0.06 a year ago. Earnings per share for the fiscal year are expected to increase by 52.20%, and 226.10% over the next financial year. EPS should grow at an annualized rate of 5.00% over the next five years, compared to -31.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate EQT Corporation (EQT) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 5 of the 19 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the EQT, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on August 21, 2020, with the firm’s price target at. Mizuho coverage for the EQT Corporation (EQT) stock in a research note released on July 23, 2020 offered a Buy rating with a price target of. Evercore ISI was of a view on July 14, 2020 that the stock is In-line, while Piper Sandler gave the stock Overweight rating on July 09, 2020, issuing a price target of $16. Credit Suisse on their part issued Outperform rating on July 02, 2020.