EQT Corporation [NYSE: EQT] stock went on an upward path that rose over 2.18% on Monday, amounting to a one-week price decrease of less than -1.02%. The company report on October 31, 2020 that EQT Announces Pricing Of Senior Notes.
EQT Corporation (NYSE: EQT) (the Company or EQT) announced today that it has priced an offering (the Offering) of $350 million in aggregate principal amount of its 5.00% senior notes due January 15, 2029. The notes are being sold to the public at par. EQT expects the offering to close on November 16, 2020, subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the Offering to partially fund the purchase price of the Company’s recently announced acquisition of certain upstream and midstream assets located in the Appalachian Basin from Chevron U.S.A. Inc. (the Chevron Acquisition). The consummation of the Offering is not conditioned upon the completion of the Chevron Acquisition and the consummation of the Offering is not a condition to the completion of the Chevron Acquisition. If the Chevron Acquisition is not consummated, the Company intends to use the net proceeds of the Offering to repay or redeem outstanding indebtedness, including those with near-term maturities, and for general corporate purposes.
Over the last 12 months, EQT stock rose by 46.50%. The one-year EQT Corporation stock forecast points to a potential upside of 20.67. The average equity rating for EQT stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $4.07 billion, with 255.59 million shares outstanding and 252.64 million shares in the current float. Compared to the average trading volume of 4.68M shares, EQT stock reached a trading volume of 5600959 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on EQT Corporation [EQT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EQT shares is $19.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EQT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for EQT Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 09, 2020. The new note on the price target was released on August 21, 2020, representing the official price target for EQT Corporation stock.
The Average True Range (ATR) for EQT Corporation is set at 0.90, with the Price to Sales ratio for EQT stock in the period of the last 12 months amounting to 1.44. The Price to Book ratio for the last quarter was 0.45, with the Price to Cash per share for the same quarter was set at 0.05. Price to Free Cash Flow for EQT in the course of the last twelve months was 20.27 with Quick ratio for the last quarter at 0.70.
EQT Stock Performance Analysis:
EQT Corporation [EQT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.02. With this latest performance, EQT shares gained by 21.52% in over the last four-week period, additionally plugging by 7.96% over the last 6 months – not to mention a rise of 46.50% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EQT stock in for the last two-week period is set at 53.68, with the RSI for the last a single of trading hit 53.68, and the three-weeks RSI is set at 53.47 for EQT Corporation [EQT]. The present Moving Average for the last 50 days of trading for this stock 14.84, while it was recorded at 15.62 for the last single week of trading, and 12.16 for the last 200 days.
Insight into EQT Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and EQT Corporation [EQT] shares currently have an operating margin of +1.54 and a Gross Margin at +8.20. EQT Corporation’s Net Margin is presently recorded at -32.15.
Return on Total Capital for EQT is now 0.37, given the latest momentum, and Return on Invested Capital for the company is -7.91. Return on Equity for this stock declined to -11.77, with Return on Assets sitting at -6.18. When it comes to the capital structure of this company, EQT Corporation [EQT] has a Total Debt to Total Equity ratio set at 54.89. Additionally, EQT Total Debt to Total Capital is recorded at 35.44, with Total Debt to Total Assets ending up at 28.61. Long-Term Debt to Equity for the company is recorded at 54.43, with the Long-Term Debt to Total Capital now at 35.14.
Reflecting on the efficiency of the workforce at the company, EQT Corporation [EQT] managed to generate an average of -$1,888,246 per employee. Receivables Turnover for the company is 3.33 with a Total Asset Turnover recorded at a value of 0.19.EQT Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.
EQT Stock EPS
With the latest financial reports released by the company, EQT Corporation posted -0.03/share EPS, while the average EPS was predicted by analysts to be reported at -0.21/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 85.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EQT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for EQT Corporation go to 5.00%.
EQT Corporation [EQT] Insider Position Details
There are presently around $3,843 million, or 96.70% of EQT stock, in the hands of institutional investors. The top three institutional holders of EQT stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 29,221,293, which is approximately 1.671% of the company’s market cap and around 1.22% of the total institutional ownership; VANGUARD GROUP INC, holding 24,613,953 shares of the stock with an approximate value of $372.65 million in EQT stocks shares; and BLACKROCK INC., currently with $340.55 million in EQT stock with ownership of nearly -1.056% of the company’s market capitalization.
Positions in EQT Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 156 institutional holders increased their position in EQT Corporation [NYSE:EQT] by around 38,473,108 shares. Additionally, 155 investors decreased positions by around 43,920,981 shares, while 49 investors held positions by with 171,445,353 shares. The mentioned changes placed institutional holdings at 253,839,442 shares, according to the latest SEC report filing. EQT stock had 64 new institutional investments in for a total of 18,390,767 shares, while 52 institutional investors sold positions of 11,793,062 shares during the same period.