Why EQT Stock Is Losing Gas Today
Natural gas producer EQT (NYSE: EQT) has a deal in place to buy pipeline operator Equitrans Midstream (NYSE: ETRN) for $5.5 billion, bringing a former subsidiary back in-house. Investors reacted by sending shares of EQT down about 7% as of 10:18 a.m. ET.
EQT is a natural gas production company focused on the Appalachian Basin, including the Marcellus shale basin. In 2018, the company spun its pipeline operations out as an independent business under the watchful eye of activist investor Jana Partners.
On Monday, the EQT announced plans to reacquire the business. Terms of the deal call for EQT to pay 0.3504 of its shares for each share of Equitrans, or about $12.50 per share based on Friday closing prices, a premium of 12% over Equitrans' $11.15 Friday close.
Source Fool.com
EQT Corp. Stock
With 20 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 42 € shows a slightly positive potential of 12.24% compared to the current price of 37.42 € for EQT Corp..
