EQT Co. (NYSE:EQT) Short Interest Update

EQT Co. (NYSE:EQT) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 19,490,000 shares, a drop of 9.8% from the September 30th total of 21,600,000 shares. Based on an average trading volume of 6,880,000 shares, the days-to-cover ratio is presently 2.8 days.

EQT Trading Up 3.4 %

EQT stock traded up $1.26 during midday trading on Wednesday, hitting $38.57. The stock had a trading volume of 9,987,915 shares, compared to its average volume of 7,039,858. The firm has a market cap of $17.03 billion, a P/E ratio of 27.85 and a beta of 1.06. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. EQT has a 1-year low of $30.02 and a 1-year high of $45.23. The business has a fifty day moving average price of $35.02 and a two-hundred day moving average price of $36.59.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. EQT’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, sell-side analysts predict that EQT will post 1.4 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is currently 45.65%.

Institutional Investors Weigh In On EQT

Several hedge funds and other institutional investors have recently bought and sold shares of EQT. HM Payson & Co. bought a new stake in EQT in the third quarter valued at $25,000. Innealta Capital LLC bought a new stake in shares of EQT during the second quarter worth about $28,000. Hexagon Capital Partners LLC increased its position in shares of EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 904 shares in the last quarter. Wolff Wiese Magana LLC increased its position in shares of EQT by 936.1% during the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 908 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 598 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EQT has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $40.00 to $42.00 in a research report on Wednesday, August 14th. Truist Financial cut their target price on shares of EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. raised their target price on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Wolfe Research initiated coverage on shares of EQT in a research report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 target price on the stock. Finally, UBS Group cut their target price on shares of EQT from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.17.

About EQT

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.