T. Rowe Price Associates, Inc. recently announced the acquisition of new stake in EQT Corp (NYSE:EQT). The institutional investor has increased its shareholding in the Energy company by 33.39% to 49.2 million shares with purchase of 12.32 million shares. This fresh investment now brings its stake to 11.96% valued currently at $1.9 billion. In addition, The Vanguard Group, Inc. raised its holdings by 3.55 million to 43.73 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.38% or 0.6 million shares – to 25.6 million shares.
Currently, there are 411.33M common shares owned by the public and among those 384.15M shares have been available to trade.
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Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 1,827,600 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 20,843,171 shares.
The top 3 mutual fund holders in EQT Corp are Vanguard Total Stock Market ETF, Vanguard Wellington Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 12.89 million shares of the company’s stock, all valued at over $498.32 million. The company bought an additional 10869.0 shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard Wellington Fund bought 6.21 million shares to see its total holdings expand to 11.05 million shares valued at over $427.38 million and representing 2.69% of the shares outstanding. Vanguard 500 Index Fund bought 1.23 million shares to bring its total holdings to over 10.04 million shares at a value of $388.15 million. Vanguard 500 Index Fund now owns shares totaling to 2.44% of the shares outstanding.
The company’s stock has a 5-day price change of -6.45% and -17.89% over the past three months. EQT shares are trading -8.48% year to date (YTD), with the 12-month market performance up to 4.27% higher. It has a 12-month low price of $28.10 and touched a high of $45.23 over the same period. EQT has an average intraday trading volume of 5.46 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 -6.69%, -8.52%, and -9.39% respectively.
Institutional ownership of EQT Corp (NYSE: EQT) shares accounts for 97.57% of the company’s 411.33M shares outstanding. Mutual fund holders own 39.79%, while other institutional holders and individual stakeholders account for 57.98% and 12.44% respectively.
It has a market capitalization of $14.55B and a beta (3y monthly) value of 1.13. The stock’s trailing 12-month PE ratio is 4.79, while the earnings-per-share (ttm) stands at $7.38. The company has a PEG of 0.22 and a Quick Ratio of 0.59 with the debt-to-equity ratio at 0.42. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.57% over the week and 2.39% over the month.
Analysts forecast that EQT Corp (EQT) will achieve an EPS of $EQT Corporation for the current quarter, $35.38 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Equinox Gold Corp. while analysts give the company a high EPS estimate of $Equity Residential. Comparatively, EPS for the current quarter was $Brinker International, Inc. a year ago. Earnings per share for the fiscal year are expected to decrease by -24.74%, and 22.24% over the next financial year. EPS should grow at an annualized rate of 22.00% over the next five years, compared to -11.45% over the past 5-year period.
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 December 11, 2023, with the firm’s price target at $46.
