EQT Co. (NYSE:EQT) Sees Significant Increase in Short Interest

EQT Co. (NYSE:EQT) saw a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 22,540,000 shares, a growth of 15.8% from the October 31st total of 19,470,000 shares. Based on an average trading volume of 7,210,000 shares, the short-interest ratio is presently 3.1 days.

Analysts Set New Price Targets

EQT has been the subject of a number of recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research report on Tuesday. Citigroup raised EQT from a “neutral” rating to a “buy” rating and raised their price target for the stock from $37.00 to $44.00 in a report on Thursday, October 3rd. Piper Sandler upped their price objective on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their target price on shares of EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Bank of America started coverage on shares of EQT in a research note on Monday, October 28th. They set a “buy” rating and a $50.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.83.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. HM Payson & Co. acquired a new stake in shares of EQT during the 3rd quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in EQT in the second quarter valued at approximately $28,000. Truvestments Capital LLC purchased a new stake in shares of EQT in the third quarter valued at approximately $30,000. Hexagon Capital Partners LLC raised its stake in shares of EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 904 shares during the period. Finally, Quarry LP lifted its position in shares of EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 578 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Performance

Shares of EQT stock traded up $0.28 on Tuesday, hitting $44.81. The company had a trading volume of 4,867,765 shares, compared to its average volume of 7,162,207. EQT has a twelve month low of $30.02 and a twelve month high of $48.02. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market cap of $26.74 billion, a P/E ratio of 53.35 and a beta of 1.14. The company has a 50-day moving average price of $39.71 and a 200-day moving average price of $37.21.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. EQT’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. As a group, equities research analysts predict that EQT will post 1.36 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 6th were given a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.41%. EQT’s dividend payout ratio is presently 75.00%.

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.