EQT Co. (NYSE:EQT) Short Interest Down 19.8% in March

by · The Cerbat Gem

EQT Co. (NYSE:EQT – Get Free Report) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 16,140,000 shares, a decrease of 19.8% from the March 15th total of 20,130,000 shares. Based on an average daily trading volume, of 8,830,000 shares, the days-to-cover ratio is presently 1.8 days. Approximately 2.7% of the company’s stock are sold short.

Hedge Funds Weigh In On EQT

Institutional investors have recently modified their holdings of the business. Parkside Financial Bank & Trust lifted its holdings in shares of EQT by 22.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 193 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 205 shares during the period. Generali Investments Management Co LLC increased its position in EQT by 14.1% in the 1st quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer’s stock valued at $91,000 after acquiring an additional 211 shares during the period. Wilmington Savings Fund Society FSB raised its stake in shares of EQT by 4.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer’s stock valued at $218,000 after acquiring an additional 223 shares during the last quarter. Finally, Huntington National Bank grew its stake in shares of EQT by 7.4% in the fourth quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer’s stock worth $151,000 after purchasing an additional 224 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Price Performance

NYSE EQT traded up $0.16 during midday trading on Friday, hitting $51.01. The company had a trading volume of 5,000,185 shares, compared to its average volume of 7,784,209. EQT has a twelve month low of $30.02 and a twelve month high of $56.66. The firm has a 50-day moving average price of $50.75 and a 200-day moving average price of $46.68. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $30.47 billion, a PE ratio of 127.52, a P/E/G ratio of 0.64 and a beta of 1.35.

EQT (NYSE:EQT – Get Free Report) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.50 by $0.19. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. As a group, analysts anticipate that EQT will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be paid a $0.1575 dividend. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.24%. EQT’s payout ratio is 157.50%.

Analyst Ratings Changes

EQT has been the topic of several analyst reports. TD Cowen raised shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company raised their target price on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, March 19th. UBS Group lowered their price target on EQT from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday. Morgan Stanley reaffirmed an “overweight” rating and issued a $67.00 price objective (up from $63.00) on shares of EQT in a research report on Wednesday, March 26th. Finally, Stephens reduced their target price on EQT from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.56.

Check Out Our Latest Research Report on EQT

About EQT

(Get Free Report)

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.

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