EQT Corporation Is Buying Rice Energy For $6.7 Billion

ProShare Advisors LLC now owns 14,953 shares of the oil and gas producer’s stock worth $354,000 after buying an additional 1,084 shares during the last quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company.

EQT said the deal would give it access to Rice Energy’s midstream assets, including a 92 percent interest in Rice Midstream GP Holdings. Highbridge Capital Management LLC increased its position in Rice Energy by 547.6% in the third quarter. Boston Partners now owns 4,729,542 shares of the oil and gas producer’s stock worth $112,090,000 after buying an additional 843,462 shares during the last quarter. Eaton Vance Mngmt reported 0.01% of its portfolio in Rice Energy Inc (NYSE:RICE). Lone Pine Capital LLC purchased a new position in Rice Energy during the fourth quarter worth approximately $79,743,000. Rice Energy has $43 highest and $9.50 lowest target.

Engineers Gate Manager LP acquired a new stake in Rice Energy Inc. The company’s 50-day moving average is $20.86 and its 200 day moving average is $21.40. Moreover, Jane Street Grp Inc Ltd Liability Company has 0.01% invested in Rice Energy Inc (NYSE:RICE).

Blackrock Group Incorporated Limited has invested 0% in Rice Energy Inc (NYSE:RICE). They expect $0.17 earnings per share, up 342.86 % or $0.24 from last year’s $-0.07 per share. The company had revenue of $393.81 million for the quarter, compared to the consensus estimate of $364.60 million. Florida-based Raymond James Associate has invested 0% in Rice Energy Inc (NYSE:RICE).

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RICE has been the topic of a number of analyst reports. Drexel Hamilton initiated the shares of RICE in report on Thursday, February 18 with “Buy” rating. (NYSE:RICE) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission.

EQT Corporation shares fell $3.24 (-5.51%) in premarket trading Monday. Finally, Royal Bank Of Canada set a $28.00 price objective on shares of Rice Energy and gave the stock a “buy” rating in a research report on Friday, June 2nd. Barclays PLC reiterated a “buy” rating on shares of Rice Energy in a research report on Wednesday, March 1st.

Among 22 analysts covering Rice Energy (NYSE:RICE), 16 have Buy rating, 0 Sell and 6 Hold. Deutsche Bank AG reduced their price target on Rice Energy from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, March 7th.

The deal announce Monday will see EQT buy all outstanding shares of Rice common stock for about $6.7 billion and assume $1.5 billion in net debt and preferred equity. Already a leading producer in the Appalachian basin, this acquisition will make EQT the largest natural gas producer in the United States.