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Could Jana Partners Foil the EQT–Rice Energy Acquisition?

PART:
1 2 3 4 5 6 7 8 9 10 11 12 13 14
Part 12
Could Jana Partners Foil the EQT–Rice Energy Acquisition? PART 12 OF 14

What We Can Decipher from EQT’s Stock Movements

EQT’s stock drivers

In this part of our series on EQT (EQT), we’ll compare EQT’s stock movements compared to movements in the broader market, the broader industry, and energy prices (USO) (UNG).

Since the beginning of this year, EQT has fallen ~4.5%. The energy sector, or the Energy Select Sector SPDR ETF (XLE), has fallen ~18.0% since the beginning of 2017.

What We Can Decipher from EQT’s Stock Movements

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Natural gas prices and crude oil prices have also performed poorly compared to EQT stock, both falling 11.0% year-to-date.

However, when compared to the broader market, the S&P 500 ETF (SPY), EQT has clearly underperformed. SPY has risen ~9.0% since January of this year.

Recent trends in EQT stock

In the graph above, we can see that EQT stock has recently seen a massive spike. This followed the news of EQT’s intention to acquire Rice Energy (RICE) and the consequent news of activist hedge fund Jana Partners opposing the move. Investors could have two interpretations in this scenario. The appreciation could be driven by the market endorsing EQT’s move to acquire Rice Energy. Or we could blame the rally on Jana Partners’ interference to stop the deal from happening. Whichever way you look at it, EQT stock has risen ~14.0% since it announced its intention in June to acquire Rice Energy.

Investors should wait to see how the shareholders vote on this deal.

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