EQT buys Rice Energy to create shale gas drilling giant
EQT buys Rice Energy to create shale gas drilling giant
EQT's purchase of Rice Energy just created a new energy powerhouse
28 June, 2017, 16:09
Its down 0.06, from 1.56 in 2016Q3. At Monday morning prices, that's equal to $25.01 per Rice share. New York State Teachers Retirement System raised its position in Rice Energy by 1.0% in the fourth quarter. (RICE) has the trading volume of 66.81 Million shares with the average trading volume of 3720 shares. State Street Corporation has invested 0.01% in Rice Energy Inc (NYSE:RICE). South Dakota Inv Council has 0.04% invested in Rice Energy Inc (NYSE:RICE) for 82,800 shares. Firefly Value Prtnrs L P holds 6.83% in Rice Energy Inc (NYSE:RICE) or 2.75M shares. Century Management Limited Liability Co accumulated 63,313 shares or 0.18% of the stock. Sg Americas Securities Limited Liability Com reported 60,309 shares. Stevens Mgmt L P reported 144,267 shares or 0.13% of all its holdings. Sg Americas Limited Company reported 60,309 shares stake. Passport Capital Ltd Llc reported 500,000 shares. Jvl Advisors Limited Com invested in 8.5% or 2.09 million shares. It also upped Endo Intl Plc (NASDAQ:ENDP) stake by 194,100 shares and now owns 209,900 shares. Thompson Siegel Walmsley Lc invested 0.21% of its portfolio in Rice Energy Inc (NYSE:RICE).
The offer translates to $27.05 per Rice Energy share, representing a premium of 37.4 percent to the stock's Friday closing price, according to Reuters calculations. The news of this change was revealed in a report today. If the share price is now hovering near the 52 week low and the value is achieved in the current past then it can suggest that the price of the shares is likely to go up. Finally, Scotiabank set a $30.00 price objective on Rice Energy and gave the company a "buy" rating in a research note on Monday, March 27th. Therefore 73% are positive.
Number of analysts are eying on this stock and after detailed observation, they have given the stock mean target price of $77.95 while their mean recommendation is 2.20 (1=Buy, 5=sell).
Analysts await Rice Energy Inc (NYSE:RICE) to report earnings on August, 2. The firm earned "Equalweight" rating on Thursday, July 14 by Barclays Capital. The stock had lost 7.8% year-to-date through Friday. The stock has "Hold" rating by SunTrust on Monday, January 30. The company was initiated on Thursday, October 6 by Mizuho. About 54.99M shares traded or 1536.61% up from the average.
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The Rating of Rice Energy (NYSE:RICE) shares have been downgraded by RBC Capital from a Outperform rating to a Sector Perform rating in a report issued to investors and clients on 20 June.
RICE has a 1-year high price of $ 29.36 and 1-year low price of $18.30. This is assuming the current $0.17 EPS is accurate.
Rice Energy - Based in Canonsburg, PA - also exploits oil and natural gas resources in the Appalachian Basin. The company has market cap of $1.17 billion. After all is said and done, EQT will be responsible for 5 percent of the nation's natural gas production. It now has negative earnings. The two companies are based in southwest Pennsylvania.
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The firm owned 130,991 shares of the basic materials company's stock after buying an additional 57,482 shares during the period. Therefore 41% are positive. 06/19/2017 - United States Steel Corporation was upgraded to "buy" by analysts at Longbow Research.
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