Could EQT Corporation (EQT) Recover After Forming a Bearish Wedge Down Chart Pattern?

July 17, 2017 - By Migdalia James

Investors sentiment increased to 1.38 in Q4 2016. Its up 0.21, from 1.17 in 2016Q3. It increased, as 40 investors sold EQT Corporation shares while 131 reduced holdings. 64 funds opened positions while 172 raised stakes. 159.74 million shares or 4.60% more from 152.72 million shares in 2016Q3 were reported.
Aureus Asset Management Llc reported 3,500 shares or 0.04% of all its holdings. Cornerstone Mngmt Lc, a New York-based fund reported 55,564 shares. Everence Mngmt stated it has 0.12% of its portfolio in EQT Corporation (NYSE:EQT). Plante Moran Advsrs Ltd Co owns 80 shares for 0% of their portfolio. Thompson Davis owns 14 shares. Loring Wolcott And Coolidge Fiduciary Advisors Limited Liability Partnership Ma accumulated 2,700 shares. 9,950 were accumulated by Livforsakringsbolaget Skandia Omsesidigt. Cwm Ltd reported 1,552 shares. Balyasny Asset Mngmt Ltd Co reported 6,892 shares stake. Mraz Amerine Associate has 3,900 shares for 0.08% of their portfolio. Sun Life Fincl holds 0% or 6 shares. State Of Tennessee Treasury Department holds 0.23% or 666,235 shares. Pax Lc reported 52,989 shares. Farmers Savings Bank holds 0.06% or 1,563 shares. Moreover, Dimensional Fund Ltd Partnership has 0.01% invested in EQT Corporation (NYSE:EQT) for 365,275 shares.

Since March 31, 2017, it had 1 buy, and 1 sale for $184,965 activity. 3,479 shares were sold by Hyland M Elise, worth $210,688 on Friday, March 31. 421 shares valued at $25,723 were bought by Cary A. Bray Jr. on Monday, April 3.

The stock of EQT Corporation (EQT) formed a down wedge with $58.40 target or 6.00 % below today’s $62.13 share price. The 9 months wedge indicates high risk for the $10.80 billion company. If the $58.40 price target is reached, the company will be worth $648.00 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

About 1.11 million shares traded. EQT Corporation (NYSE:EQT) has declined 18.61% since July 17, 2016 and is downtrending. It has underperformed by 35.31% the S&P500.

Investors wait EQT Corporation (NYSE:EQT) to report on July, 27. its quarterly earnings Wall Street analysts expect $0.15 EPS, up $0.50 or 142.86 % from last year’s $-0.35 same quarter earnings. This translates into $26.08 million profit for EQT giving the stock a 103.62 P/E. This is assuming the current $0.15 EPS is accurate. EQT Corporation’s Wall Street analysts see -65.91 % negative EPS growth, taking into account the $0.44 EPS reproted in the previous quarter,

EQT Corporation (NYSE:EQT) Ratings Coverage

Among 20 analysts covering EQT Corporation (NYSE:EQT), 11 have Buy rating, 0 Sell and 9 Hold. Therefore 55% are positive. EQT Corporation had 51 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of EQT Corporation (NYSE:EQT) earned “Sector Perform” rating by RBC Capital Markets on Wednesday, July 5. Deutsche Bank maintained the stock with “Buy” rating in Monday, September 28 report. JP Morgan initiated it with “Overweight” rating and $69 target in Wednesday, December 9 report. The stock of EQT Corporation (NYSE:EQT) has “Buy” rating given on Monday, July 10 by Stifel Nicolaus. The rating was downgraded by Howard Weil to “Sector Perform” on Thursday, August 11. On Friday, August 14 the stock rating was upgraded by Global Hunter Securities to “Buy”. RBC Capital Markets maintained the stock with “Buy” rating in Wednesday, April 26 report. The company was maintained on Friday, April 7 by Jefferies. The firm has “Buy” rating given on Wednesday, December 9 by Deutsche Bank. The rating was maintained by RBC Capital Markets with “Buy” on Friday, June 2.

More notable recent EQT Corporation (NYSE:EQT) news were published by: Nasdaq.com which released: “EQT Corp. to Expand in Marcellus & Utica, Debt a Concern” on June 26, 2017, also Streetinsider.com with their article: “JANA Partners Confirms 5.8% Stake in EQT Corporation (EQT); Is Against Rice …” published on July 03, 2017, Fool.com published: “EQT Corporation Is About to Become America’s Biggest Natural Gas Producer …” on June 19, 2017. More interesting news about EQT Corporation (NYSE:EQT) were released by: Investorplace.com and their article: “Why EQT Corporation (EQT), JC Penney Company Inc (JCP) and Regency Centers …” published on June 19, 2017 as well as Seekingalpha.com‘s news article titled: “The EQT Corporation Acquisition Of Rice Energy Is Smart” with publication date: June 21, 2017.

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