EQT Co. (NYSE:EQT) Short Interest Update

EQT Co. (NYSE:EQT) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 20,480,000 shares, a growth of 11.7% from the August 15th total of 18,330,000 shares. Based on an average daily volume of 8,200,000 shares, the short-interest ratio is presently 2.5 days.

Analysts Set New Price Targets

Several research firms recently issued reports on EQT. Jefferies Financial Group boosted their price objective on EQT from $43.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Truist Financial cut their price target on shares of EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Scotiabank raised their price objective on shares of EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Friday, July 12th. Wells Fargo & Company raised shares of EQT from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $42.00 in a research note on Wednesday, August 14th. Finally, Piper Sandler cut shares of EQT from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $43.00 to $32.00 in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $43.71.

Hedge Funds Weigh In On EQT

Several hedge funds have recently made changes to their positions in EQT. Price T Rowe Associates Inc. MD boosted its position in shares of EQT by 22.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after purchasing an additional 11,993,729 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of EQT by 27.9% in the first quarter. Bank of New York Mellon Corp now owns 19,883,694 shares of the oil and gas producer’s stock valued at $737,089,000 after acquiring an additional 4,339,407 shares during the period. Vanguard Group Inc. grew its position in shares of EQT by 8.4% during the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after acquiring an additional 3,942,802 shares during the last quarter. Third Point LLC acquired a new position in shares of EQT in the 4th quarter valued at $75,387,000. Finally, Merewether Investment Management LP purchased a new stake in EQT in the 2nd quarter valued at $69,452,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Price Performance

Shares of NYSE EQT opened at $33.27 on Wednesday. The stock’s 50-day simple moving average is $33.44 and its 200-day simple moving average is $36.50. The firm has a market capitalization of $14.69 billion, a PE ratio of 24.11 and a beta of 1.06. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $45.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.12. The company had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The firm’s revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) earnings per share. As a group, equities research analysts forecast that EQT will post 1.44 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.89%. EQT’s dividend payout ratio (DPR) is presently 45.65%.

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.