The recent updates on EQT Co. (NYSE:EQT) illustrate a bustling series of activities revolving around acquisitions, divestitures, quarterly earnings, and stock market reactions. The notable information starts with the acquiring of Perficient by EQT for approximately $3 billion which made the stock to rally by 53%. Other entities such as the Retirement Systems of Alabama, Atria Wealth Solutions Inc., New York Life Investment Management LLC, Swiss National Bank, and Cwm LLC joining the bandwagon of solidifying their EQT stock positions. Notably, EQT's first-quarter 2024 results were released, although, the company lagged in Q4 earnings and revenue estimates. Also, the company declared a dividend payment.
The stock observed a more than 7% YTD spike. A downgrading of Perficient stock by William Blair amid the EQT acquisition had minimal effect on the positive run. Meanwhile, EQT's target was raised by Piper Sandler on strong earnings, after which its value dipped more than the broader markets. Continued stock purchasing by insiders and a surge in earnings estimates added up to the upward trend.
However, a swerve was observed as EQT's stock slightly lost momentum, it was downgraded by Mizuho following the Equitrans deal. EQT then extended its clout by acquiring Equitrans Midstream in an all-stock deal. Interestingly, EQT shares were also reported to be acquired by International Assets Investment Management LLC. EQT announced to pay a dividend of $0.1575 and it also forecasted to earn Q3 2024 earnings at $0.06 per share. Finally, EQT considered Azelis options amid suitor's interest and spotted a major AI opportunity in $5.5B Equitrans deal.
Eqt Stocks EQT News Analytics from Wed, 06 Dec 2023 08:00:00 GMT to Wed, 08 May 2024 11:44:25 GMT - Rating 7 - Innovation 6 - Information 9 - Rumor 3
