In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), EQT Corporation (NYSE:EQT) reported that JANA Partners has picked up 10,000,000 of common stock as of 2017-07-03.
The acquisition brings the aggregate amount owned by JANA Partners to a total of 10,000,000 representing a 5.8% stake in the company.
For those not familiar with the company, EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin. The EQT Production segment also includes the marketing activities of the Company. EQT Production’s properties are located in Pennsylvania, West Virginia, Kentucky and Virginia. The operations of EQT Gathering include the natural gas gathering activities of the Company, consisting solely of assets that are owned and operated by EQT Midstream Partners, LP (EQM). The operations of EQT Transmission include the natural gas transmission and storage activities of the Company, consisting solely of assets that are owned and operated by EQM. EQT Transmission focuses on various transmission projects, including Mountain Valley Pipeline and Transmission Expansion.
A glance at EQT Corporation (NYSE:EQT) key stats reveals a current market capitalization of $10.28 Billion based on $173.32 Million shares outstanding and a price at last close of $59.75 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-06-23, Cary picked up 5,373 at a purchase price of $53.99. This brings their total holding to 28,000 as of the date of the filing.
On the sell side, the most recent transaction saw Hyland unload 3,479 shares at a sale price of $60.56. This brings their total holding to 15,941.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an EQT Corporation (NYSE:EQT) as things move forward to see if its progress aligns with these transactions.
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