We recently published a list of 10 Firms Stand Strong Amid Market Decline. In this article, we are going to take a look at where EQT Corp. (NYSE:EQT) stands against other firms stand strong amid market decline.
The US stock market finished the day on a sour note anew amid the lack of fresh catalysts to spice up trading while investors repositioned their portfolios ahead of 2025.
On Monday, the Dow shed 0.97 percent or 418 points, while the S&P’s broad index decreased 0.95 percent or 56.48 points. Nasdaq Composite registered the biggest decline, down 1.19 percent or 235.24 points.
Despite losses, 10 companies managed to eke out gains, with those in the energy sector posting notable performance. Let’s explore why.
To come up with Monday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A storage facility for natural gas, showing the vast reserves of this abundant energy source.
EQT Corp. (NYSE:EQT)
Natural gas producer EQT Corp. (NYSE:EQT) saw its share prices grow by 5.12 percent to finish Monday’s trading at $46.59 apiece.
Investor optimism was fueled by news of a spike in natural gas prices, spurred by higher electricity demand to beat the cold winter season, boding well for the company’s prospects.
In addition, EQT recently secured a fresh $3.5 billion in funding for its midstream joint venture from its affiliate Blackstone Credit & Insurance.
The company said proceeds from the transaction will be used to repay its term loan and revolving credit facility, as well as the bridge term loan facility that was used to fund the previously announced redemption and repurchase of certain senior notes of EQM Midstream Partners, LP.
Overall, EQT ranks 2nd on our list of firms stand strong amid market decline. While we acknowledge the potential of EQT as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than EQT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.