Short Interest in EQT Co. (NYSE:EQT) Decreases By 5.8%

EQT Co. (NYSE:EQT) saw a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 19,300,000 shares, a decline of 5.8% from the August 31st total of 20,480,000 shares. Based on an average daily volume of 8,050,000 shares, the short-interest ratio is currently 2.4 days.

EQT Stock Performance

Shares of NYSE:EQT traded down $0.57 on Tuesday, hitting $36.07. 1,249,193 shares of the company were exchanged, compared to its average volume of 7,064,512. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average price is $33.29 and its 200 day moving average price is $36.46. EQT has a 1-year low of $30.02 and a 1-year high of $45.23. The firm has a market capitalization of $15.93 billion, a P/E ratio of 26.55 and a beta of 1.06.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The business had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the business earned ($0.17) EPS. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. Sell-side analysts predict that EQT will post 1.37 EPS for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Wednesday, August 7th. EQT’s dividend payout ratio is presently 45.65%.

Institutional Trading of EQT

Several large investors have recently made changes to their positions in EQT. California State Teachers Retirement System boosted its holdings in EQT by 3.6% in the fourth quarter. California State Teachers Retirement System now owns 538,463 shares of the oil and gas producer’s stock valued at $20,817,000 after purchasing an additional 18,804 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of EQT by 421.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 64,900 shares of the oil and gas producer’s stock valued at $2,509,000 after buying an additional 52,443 shares during the period. Cibc World Markets Corp lifted its holdings in shares of EQT by 162.4% in the 4th quarter. Cibc World Markets Corp now owns 52,370 shares of the oil and gas producer’s stock valued at $2,025,000 after buying an additional 32,409 shares during the period. Third Point LLC purchased a new stake in shares of EQT in the fourth quarter worth about $75,387,000. Finally, Cetera Investment Advisers acquired a new stake in EQT during the first quarter worth about $2,274,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EQT. Piper Sandler cut shares of EQT from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $43.00 to $32.00 in a research note on Thursday, August 15th. Truist Financial lowered their price objective on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. UBS Group decreased their price target on EQT from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Citigroup reissued a “neutral” rating and set a $37.00 target price on shares of EQT in a research note on Friday, August 23rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $45.00 price target on shares of EQT in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $42.29.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.