EQT Corporation [NYSE: EQT] gained 4.45% or 0.75 points to close at $17.62 with a heavy trading volume of 4299573 shares. The company report on April 15, 2021 that EQT Announces Commitment to Seek Natural Gas Certification under Equitable Origin and MiQ Standards.
EQT Corporation (NYSE: EQT) announced its commitment to seek independent certification of a majority of its produced natural gas under certification standards developed by Equitable Origin and MiQ. The certification process is expected to commence this month, and it is anticipated that certification from Equitable Origin and MiQ will be obtained later this year.
Under the proposed project, EQT plans to obtain Equitable Origin and MiQ certification of the natural gas produced from over 200 of its well pads located in Greene and Washington Counties, Pennsylvania, which collectively produce approximately 4.0 Bcf/day from the wellhead (gross volume). These certifications will expand EQT’s growing portfolio of certified natural gas, sometimes referred to as responsibly sourced gas, having previously announced in January a separate project with Project Canary to certify gas produced from two of its well pads, also located in southwestern Pennsylvania. When its certification project with Equitable Origin and MiQ is completed, EQT’s certified natural gas production will comprise 4.5% of all natural gas produced in the U.S. This means EQT will be producing more certified gas than any other U.S. producer’s entire natural gas production (certified or uncertified). EQT is committing to produce certified gas under the Equitable Origin and MiQ certification standards initially for a one-year period in order to further explore the market for these differentiated natural gas products.
It opened the trading session at $17.00, the shares rose to $18.10 and dropped to $17.00, the range by which the price of stock traded the whole day. The daily chart for EQT points out that the company has recorded 14.42% gains over the past six months. However, it is still -67.49% lower than its most recent low trading price.
If we look at the average trading volume of 5.53M shares, EQT reached to a volume of 4299573 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $22.79 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.
Goldman have made an estimate for EQT Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 23, 2021. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on December 15, 2020, representing the official price target for EQT Corporation stock. Previously, the target price had yet another raise to $16, while Siebert Williams Shank analysts kept a Hold rating on EQT stock.
The Average True Range (ATR) for EQT Corporation is set at 0.97, with the Price to Sales ratio for EQT stock in the period of the last 12 months amounting to 1.66. The Price to Book ratio for the last quarter was 0.53, with the Price to Cash per share for the same quarter was set at 0.06. Price to Free Cash Flow for EQT in the course of the last twelve months was 10.38 with Quick ratio for the last quarter at 0.70.
Trading performance analysis for EQT stock
EQT Corporation [EQT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.44. With this latest performance, EQT shares dropped by -5.67% in over the last four-week period, additionally plugging by 14.42% over the last 6 months – not to mention a rise of 37.01% 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 47.37, with the RSI for the last a single of trading hit 46.52, and the three-weeks RSI is set at 48.76 for EQT Corporation [EQT]. The present Moving Average for the last 50 days of trading for this stock 18.00, while it was recorded at 17.24 for the last single week of trading, and 15.53 for the last 200 days.
EQT Corporation [EQT]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and EQT Corporation [EQT] shares currently have an operating margin of -30.36 and a Gross Margin at -23.79. EQT Corporation’s Net Margin is presently recorded at -36.38.
Return on Total Capital for EQT is now -5.49, given the latest momentum, and Return on Invested Capital for the company is -6.63. Return on Equity for this stock declined to -10.15, with Return on Assets sitting at -5.24. When it comes to the capital structure of this company, EQT Corporation [EQT] has a Total Debt to Total Equity ratio set at 53.49. Additionally, EQT Total Debt to Total Capital is recorded at 34.85, with Total Debt to Total Assets ending up at 27.33. Long-Term Debt to Equity for the company is recorded at 51.55, with the Long-Term Debt to Total Capital now at 33.59.
Reflecting on the efficiency of the workforce at the company, EQT Corporation [EQT] managed to generate an average of -$1,549,946 per employee. Receivables Turnover for the company is 3.60 with a Total Asset Turnover recorded at a value of 0.14.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 Corporation [EQT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, EQT Corporation posted 0.14/share EPS, while the average EPS was predicted by analysts to be reported at 0/share. 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%.
An analysis of insider ownership at EQT Corporation [EQT]
There are presently around $4,876 million, in the hands of institutional investors. The top three institutional holders of EQT stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 31,781,884, which is approximately 7.176% of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 25,382,520 shares of the stock with an approximate value of $447.24 million in EQT stocks shares; and BLACKROCK INC., currently with $435.45 million in EQT stock with ownership of nearly 14.925% of the company’s market capitalization.
Positions in EQT Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 205 institutional holders increased their position in EQT Corporation [NYSE:EQT] by around 51,239,768 shares. Additionally, 141 investors decreased positions by around 19,034,532 shares, while 47 investors held positions by with 206,447,490 shares. The mentioned changes placed institutional holdings at 276,721,790 shares, according to the latest SEC report filing. EQT stock had 79 new institutional investments in for a total of 17,743,077 shares, while 43 institutional investors sold positions of 7,435,438 shares during the same period.