Market cap of EQT Corporation [EQT] reaches 12.24B – now what?

EQT Corporation [NYSE: EQT] surged by $1.33 during the normal trading session on Monday and reaching a high of $35.33 during the day while it closed the day at $34.67. The company report on January 4, 2023 that EQT Eliminates Nearly 9,000 Natural Gas-Powered Pneumatic Devices.

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Company-Wide Initiative Reduces EQT’s Methane Emissions By 70%.

EQT Corporation (NYSE: EQT), the largest producer of natural gas in the United States, today announced the completion of a $28 million company-wide initiative to eliminate 100% of its natural gas-powered pneumatic devices from its production operations. As a result of the initiative, EQT has reduced its methane emissions by 70%1 and reduced its annual carbon footprint by 305,614 metric tons of CO2e.1.

EQT Corporation stock has also gained 2.48% of its value over the past 7 days. However, EQT stock has declined by -19.69% in the 3 months of the year. Over the past six months meanwhile, it has gained 0.32% and gained 2.48% year-on date.

The market cap for EQT stock reached $12.24 billion, with 369.99 million shares outstanding and 365.47 million shares in the current float. Compared to the average trading volume of 6.59M shares, EQT reached a trading volume of 7162526 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $56.29 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 2.10. 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.

Wolfe Research have made an estimate for EQT Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 14, 2022. While these analysts kept the previous recommendation, Citigroup dropped their target price from $60 to $40. The new note on the price target was released on December 07, 2022, representing the official price target for EQT Corporation stock. Previously, the target price had yet another raise to $57, while Jefferies analysts kept a Buy rating on EQT stock. On September 19, 2022, analysts increased their price target for EQT shares from 50 to 65.

The Average True Range (ATR) for EQT Corporation is set at 1.74, with the Price to Sales ratio for EQT stock in the period of the last 12 months amounting to 1.56. The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 0.25. Price to Free Cash Flow for EQT in the course of the last twelve months was 6.04 with Quick ratio for the last quarter at 0.60.

EQT stock trade performance evaluation

EQT Corporation [EQT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.48. With this latest performance, EQT shares dropped by -5.61% in over the last four-week period, additionally plugging by 0.32% over the last 6 months – not to mention a rise of 59.18% 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 45.11, with the RSI for the last a single of trading hit 48.84, and the three-weeks RSI is set at 43.95 for EQT Corporation [EQT]. The present Moving Average for the last 50 days of trading for this stock 38.76, while it was recorded at 33.02 for the last single week of trading, and 41.14 for the last 200 days.

EQT Corporation [EQT]: An insightful look at the core fundamentals

EQT Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

EQT Corporation [EQT]: Insider Ownership positions

There are presently around $12,493 million, or 99.20% of EQT stock, in the hands of institutional investors. The top three institutional holders of EQT stocks are: BLACKROCK INC. with ownership of 45,624,743, which is approximately -25.646% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 38,038,225 shares of the stock with an approximate value of $1.32 billion in EQT stocks shares; and STATE STREET CORP, currently with $820.15 million in EQT stock with ownership of nearly 78.074% of the company’s market capitalization.

Positions in EQT Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 350 institutional holders increased their position in EQT Corporation [NYSE:EQT] by around 58,104,004 shares. Additionally, 239 investors decreased positions by around 50,864,841 shares, while 65 investors held positions by with 251,370,124 shares. The mentioned changes placed institutional holdings at 360,338,969 shares, according to the latest SEC report filing. EQT stock had 136 new institutional investments in for a total of 10,459,363 shares, while 49 institutional investors sold positions of 4,690,567 shares during the same period.

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