$EQT Stock Dark Pool Buying, Goldman Buy Rating

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$EQT stock is testing a downtrend channel breakout on November 7, 2022, with evidence of dark pool buying after a Goldman Sachs upgrade.

Dark Pool Trading In $EQT Stock

Dark pool trading occurred in $EQT stock on November 4, 2022. We think the dark pool trade was a buy order because of how $EQT stock rose following the trade hitting the tape.

EQT stock chart on November 7, 2022, with dark pool trade shown with orange bar, with a table to the right with the text TIME SYMBOL MESSAGE PRICE 11/04/22 EQT 455,961 DARK BLOCK $18.0M 4.12% AvgVol $40.50

Make sure to review this lesson on dark pool trading so that you understand the chart above.

EQT AB reinstated with a Buy at Goldman Sachs

On November 1, 2022, Goldman Sachs analyst Oliver Carruthers reinstated coverage of EQT AB with a Buy rating and SEK 295 price target, implying 36% upside to the shares. The analyst says EQT is a leading global private markets platform that is well positioned.

EQT AB initiated with an Underperform at Credit Suisse

On October 27, 2022, Credit Suisse analyst Haley Tam initiated coverage of EQT AB with an Underperform rating and SEK 214 price target. The analyst notes Credit Suisse estimated 2023 EPS is 18% below consensus due to lower carried interest expectations, based on bottom-up fund-by-fund modelling. EQT VIII is the key source of Tam’s concern.

EQT Reports Third Quarter 2022 Results

On October 26, 2022, EQT Corporation (NYSE: EQT) announced financial and operational results for the third quarter 2022. EQT Corporation reported Q3 adjusted EPS of $1.04 which met the consensus estimate. The company reported Q3 revenue of $2.07B versus the consensus estimate of $1.76B.

President and CEO Toby Z. Rice stated, “Third quarter was an active one at EQT as we announced the accretive, bolt-on acquisition of Tug Hill and XcL Midstream. Alongside the announcement, we augmented our capital returns framework, with material increases to both our debt reduction goals and stock buyback authorization. Since last December, we have reduced our fully diluted share count by more than 19 million shares through common equity and convertible note repurchases at an average price of approximately $31 per share.”

Rice continued, “We also announced a collaboration with the State of West Virginia and various leading energy and technology companies to form the Appalachian Regional Clean Hydrogen Hub or ARCH2. Appalachia is ideally suited to lead the charge in clean hydrogen production in the United States and use of EQT’s extremely low emissions natural gas can act as a strategic foundation for America’s transition toward decarbonization. Lastly, we were honored to see EQT added to the S&P 500 earlier this month, which we view as another testament to our premier asset base, the success of our modern, digitally enabled operating model and the overall sustainability of our business.”

U.S. could be the natural gas champion, says EQT CEO

$EQT Stock Technical Analysis

$EQT stock is in a technical uptrend. Long-term indicators suggest a continuation of the uptrend. The stock is approaching downtrend channel resistance and tough horizontal resistance. A break above $45.89 would be very bullish for the stock.

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