EQT Corporation (NYSE: EQT) stock fell -1.27% on Tuesday to $35.85 against a previous-day closing price of $36.31. With 4.72 million shares changed hands, the volume of the stock remained lighter than its average volume of 6.53 million shares. The 52-week range on EQT shows that it touched its highest point at $51.97 and its lowest point at $28.10 during that stretch. It currently has a 1-year price target of $44.41. With its current market cap of 13.18 billion, EQT has annualized dividend of $0.60 while the current yield stands at 1.67%. Beta for the stock currently stands at 1.17.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EQT was up-trending over the past week, with a rise of 2.99%, but this was up by 9.50% over a month. Three-month performance surged to 12.10% while six-month performance fell -12.62%. The stock lost -12.24% in the past year, while it has gained 5.97% so far this year. A look at the trailing 12-month EPS for EQT yields 10.43 with Next year EPS estimates of 4.79. For the next quarter, that number is 0.08. This implies an EPS growth rate of 223.20% for this year and 77.72% for next year. EPS is expected to grow by 29.11% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 47.00%.
Float and Shares Shorts:
At present, 361.46 million EQT shares are outstanding with a float of 358.63 million shares on hand for trading. On Apr 27, 2023, short shares totaled 17.62 million, which was 4.87% higher than short shares on Mar 30, 2023. In addition to Mr. Toby Z. Rice as the firm’s Pres, CEO & Director, Mr. David M. Khani CFA serves as its Exec. VP, CFO & Principal Financial Officer.
Through their ownership of 97.94% of EQT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 58.19% of EQT, in contrast to 36.98% held by mutual funds. Shares owned by individuals account for 1.99%. As the largest shareholder in EQT with 10.47% of the stake, The Vanguard Group, Inc. holds 37,729,024 shares worth 37,729,024. A second-largest stockholder of EQT, SSgA Funds Management, Inc., holds 26,074,595 shares, controlling over 7.24% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in EQT, holding 21,303,478 shares or 5.91% stake. With a 3.18% stake in EQT, the American Balanced Fund is the largest stakeholder. A total of 11,450,000 shares are owned by the mutual fund manager. The SPDR Series – Energy Select Secto, which owns about 2.84% of EQT stock, is the second-largest Mutual Fund holder. It holds 10,242,823 shares valued at 356.86 million. Vanguard Total Stock Market ETF holds 2.79% of the stake in EQT, owning 10,036,865 shares worth 349.68 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, EQT reported revenue of $3.37B and operating income of $2.25B. The EBITDA in the recently reported quarter was $2.25B and diluted EPS was $2.19.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EQT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With EQT analysts setting a high price target of $60.00 and a low target of $35.00, the average target price over the next 12 months is $44.25. Based on these targets, EQT could surge 67.36% to reach the target high and fall by -2.37% to reach the target low. Reaching the average price target will result in a growth of 23.43% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded EQT stock several times over the past three months with 12 Buys and 16 Sells. In these transactions, 1,621,580 shares were bought while 716,685 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 37 over the past year. The total number of shares bought during that period was 1,812,650 while 1,127,590 shares were sold.