The Vanguard Group, Inc. recently announced the acquisition of new stake in EQT Corporation (NYSE:EQT). The institutional investor has increased its shareholding in the Energy company by 19.24% to 37.35 million shares with purchase of 6.03 million shares. This fresh investment now brings its stake to 10.18% valued currently at $1.56 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 10.37 million to 23.66 million shares. And ClearBridge Investments LLC has lifted its position by 7.00% or 0.75 million shares – to 11.47 million shares.
With over 7.16 million EQT Corporation (EQT) shares trading Tuesday and a closing price of $43.78 on the day, the dollar volume was approximately $313.29 million. The shares have shown a negative half year performance of -2.97% and its price on 11/22/22 gained nearly 5.93%. Currently, there are 369.99M common shares owned by the public and among those 365.47M 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: 23 analysts who have offered their price forecasts for EQT have a consensus price objective of $61.80. The analysts have set the share’s price value over the next 12 months at a high of $82.00 and a low of $50.00. The average price target is 29.67% above its recent price level and an upside to the estimated low will see the stock gain 12.44% over that period. But an upside of 46.61% will see the stock hit the forecast high price target while median target price for the stock is $60.00.
Insiders at the company have transacted a total of 30 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 12 of these insider trades were purchases, accounting for 354,839 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 299,370 shares.
The top 3 mutual fund holders in EQT Corporation are American Balanced Fund, Vanguard Total Stock Market Index, and SPDR Series – Energy Select Secto. American Balanced Fund owns 12.57 million shares of the company’s stock, all valued at over $526.1 million. The company sold -0.7 million shares recently to bring their total holdings to about 3.43% of the shares outstanding. Vanguard Total Stock Market Index bought 68853.0 shares to see its total holdings expand to 10.0 million shares valued at over $418.36 million and representing 2.72% of the shares outstanding. SPDR Series – Energy Select Secto bought 954.0 shares to bring its total holdings to over 9.08 million shares at a value of $379.79 million. SPDR Series – Energy Select Secto now owns shares totaling to 2.47% of the shares outstanding.
Shares of EQT Corporation (NYSE: EQT) opened at $41.95, up $0.62 from a prior closing price of $41.33. However, the script later moved the day high at 44.59, up 5.93%. The company’s stock has a 5-day price change of 0.05% and -11.89% over the past three months. EQT shares are trading 100.73% year to date (YTD), with the 12-month market performance up to 109.57% higher. It has a 12-month low price of $17.95 and touched a high of $51.97 over the same period. EQT has an average intraday trading volume of 8.89 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 6.00%, 3.21%, and 11.95% respectively.
Institutional ownership of EQT Corporation (NYSE: EQT) shares accounts for 99.10% of the company’s 369.99M shares outstanding. Mutual fund holders own 44.46%, while other institutional holders and individual stakeholders account for 55.02% and 1.68% respectively.
It has a market capitalization of $16.33B and a beta (3y monthly) value of 1.17. The stock’s trailing 12-month PE ratio is 9.53, while the earnings-per-share (ttm) stands at $4.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.65% over the week and 5.46% over the month.
Analysts forecast that EQT Corporation (EQT) will achieve an EPS of $1.82 for the current quarter, $3.92 for the next quarter and $9.87 for 2023. The lowest estimate earnings-per-share for the quarter is $0.96 while analysts give the company a high EPS estimate of $3.23. Comparatively, EPS for the current quarter was $0.41 a year ago. Earnings per share for the fiscal year are expected to increase by 3.60%, and 149.42% over the next financial year.
Looking at the support for the EQT, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on October 19, 2022, with the firm’s price target at $57. BMO Capital Markets coverage for the EQT Corporation (EQT) stock in a research note released on September 19, 2022 offered a Outperform rating with a price target of $65. BofA Securities was of a view on September 19, 2022 that the stock is Buy, while Scotiabank gave the stock Sector Outperform rating on July 25, 2022, issuing a price target of $54. Citigroup on their part issued Buy rating on July 21, 2022.