T. Rowe Price Associates, Inc. has recently announced that it has increased stake in EQT Corp (NYSE:EQT) by 33.39%. After grabbing 49.2 million shares, the institutional investor is now in possession of 12.32 million shares of the Energy Company. The new investment brought the stake of investor firm to 11.96% having worth around $1.97 billion. Moreover, The Vanguard Group, Inc. increased its share by 3.55 million to have a control over 43.73 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.6 million shares by acquiring 25.6 million shares or 6.22% of the stake.
EQT Corp (EQT) concluded trading on 12/27/23 at a closing price of $39.18, with 3.2 million shares of worth about $125.37 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -1.43% during that period and on Wednesday the price saw a loss of about -0.08%. Currently the company’s common shares owned by public are about 411.33M shares, out of which, 384.15M shares are available for trading.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 50 times over the past 12 months. They bought 1,827,600 shares in 20 of the transactions. In 30 selling transactions, insiders dumped 20,843,171 shares.
Vanguard Total Stock Market ETF, Vanguard Wellington Fund, and SPDR Series – Energy Select Secto are the top 3 mutual funds which are holding stakes in EQT Corp Vanguard Total Stock Market ETF is currently holding 12.88 million shares of worth totaling $514.64 million. The company recently came buying 15759.0 shares which brought its stake up to 3.13% of the company’s outstanding shares. Vanguard Wellington Fund bought 6.21 million shares, after which its hold over company’s outstanding shares expand to 2.69%, leaving 11.05 million shares with the mutual fund that have a worth of about $441.75 million. SPDR Series – Energy Select Secto, after selling 10.18 million shares, have now control over 2.48% of the stake in the company. It holds -0.11 million shares of worth $406.92 million.
EQT Corp (NYSE: EQT) started trading at $39.53, above $0.32 from concluding price of the previous day. However, the stock later moved at a day high price of 39.66, or with a loss of -0.08%. Stock saw a price change of 0.88% in past 5 days and over the past one month there was a price change of -2.61%. Year-to-date (YTD), EQT shares are showing a performance of 15.81% which increased to 8.20% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $28.10 but also hit the highest price of $45.23 during that period. The average intraday trading volume for EQT Corp shares is 5.38 million. The stock is currently trading 1.96% above its 20-day simple moving average (SMA20), while that difference is down -2.87% for SMA50 and it goes to 1.84% higher than SMA200.
T. Rowe Price Associates, Inc. acquired 49.2 million shares of EQT Corp having value of about $1.97 billion. Data submitted at the U.S SEC by T. Rowe Price Associates, Inc. revealed that the firm now holds 12.32 million shares in the company valued at close to $482543700.96, or have control over 33.39% stake in the company. EQT Corp (NYSE: EQT) currently have 411.33M outstanding shares and institutions hold larger chunk of about 97.08% of that. Holding of mutual funds in the company is about 41.13% while other institutional holders and individual stake holders have control over 56.70% and 12.44% of the stake respectively.
The stock has a current market capitalization of $16.12B and its 3Y-monthly beta is at 1.10. PE ratio of stock for trailing 12 months is 5.31, while it has posted earnings per share of $7.38 in the same period. Its PEG reads 0.20 and has Quick Ratio of 0.59 while making debt-to-equity ratio of 0.42. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EQT, volatility over the week remained 2.02% while standing at 2.71% over the month.
Analysts are in expectations that EQT Corp (EQT) stock would likely to be making an EPS of $0.49 in the current quarter, while forecast for next quarter EPS is $1.27 and it is $3.38 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.3 which is $0.78 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.42 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -26.54% while it is estimated to increase by 44.88% in next year. EPS is likely to grow at an annualized rate of 27.00% for next 5-years, compared to annual growth of -11.45% made by the stock over the past 5-years.
Analysts at 27 brokerage firms have issued recommendations for the EQT Corp (EQT)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.74. Out of those 27 Wall Street analysts, 16 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on December 11, 2023 offering a Buy rating for the stock and assigned a target price of $46 to it.
