EQT buys Rice Energy to create shale gas drilling giant

Gladys Abbott
June 19, 2017

The expected RICE's profit could reach $27.22M giving the stock 37.01 P/E in the case that $0.17 earnings per share is reported.

In energy ETFs, the United States Oil Fund ( USO ) was up 0.3% at $9.27 while the United States Natural Gas ETF ( UNG ) was down 4.4% at $6.53.

Analysts expect Rice Energy Inc (NYSE:RICE) to report $0.17 EPS on August, 2.They anticipate $0.24 EPS change or 342.86 % from last quarter's $-0.07 EPS. SG Americas Securities LLC boosted its stake in shares of Rice Energy by 129.3% in the third quarter. Texas Cap Natl Bank Tx holds 0.48% of its portfolio in Rice Energy Inc (NYSE:RICE) for 9,863 shares. It turned negative, as 41 investors sold Rice Energy Inc shares while 60 reduced holdings. Rice Energy Inc (NYSE:RICE) has risen 14.59% since June 19, 2016 and is uptrending. (RICE) traded down 0.15% during mid-day trading on Friday, hitting $19.69.

EQT Corporation shares fell $3.24 (-5.51%) in premarket trading Monday. The stock has a 50 day moving average of $20.86 and a 200-day moving average of $21.40. Blackrock Group Incorporated Limited has invested 0% in Rice Energy Inc (NYSE:RICE).

In the last earnings report the EPS was $-1.75 and is projected to be $0.55 for the current year with 205,060,000 shares outstanding. The company had revenue of $393.81 million during the quarter, compared to the consensus estimate of $364.60 million. Eaton Vance Mngmt reported 0.01% of its portfolio in Rice Energy Inc (NYSE:RICE). After having $0.12 EPS previously, Rice Energy Inc's analysts see 41.67 % EPS growth.

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Rice Energy Inc. has a 52-week low of $18.30 and a 52-week high of $29.36.

A number of brokerages have recently issued reports on RICE. Drexel Hamilton initiated the shares of RICE in report on Thursday, February 18 with "Buy" rating. Rice Energy presently has a consensus rating of "Buy" and a consensus price target of $30.24. Jefferies Group LLC set a $26.00 price objective on shares of Rice Energy and gave the stock a "buy" rating in a research report on Saturday, March 25th. Equity analyst Deutsche Bank upgraded the stock and raised the price target on November 21 boosting the price target from $23.00 to $33.00 and moving the rating from "Hold" to "Buy". Finally, Scotiabank set a $30.00 price target on Rice Energy and gave the company a "buy" rating in a research note on Monday, March 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock.

EQT Corporation (NYSE:EQT) will acquire Rice Energy Inc (NYSE:RICE) for a total of $6.7 billion in a blockbuster US natural gas shale deal.

Rice CEO Daniel J. Rice IV said the combination of the country's "largest, lowest-cost, and most responsible natural gas producers creates an unparalleled leader in shale gas development that will benefit the environment and our shareholders for many decades to come".

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