EQT Corporation (NYSE:EQT) Sees Significant Drop in Short Interest

EQT Corporation (NYSE:EQT) was the target of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 22,156,524 shares, a drop of 15.5% from the January 15th total of 26,231,103 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average daily volume of 13,820,896 shares, the short-interest ratio is currently 1.6 days. Based on an average daily volume of 13,820,896 shares, the short-interest ratio is currently 1.6 days. Approximately 3.6% of the shares of the company are short sold.

Hedge Funds Weigh In On EQT

A number of institutional investors have recently bought and sold shares of EQT. Sound Shore Management Inc CT acquired a new position in shares of EQT in the second quarter valued at $67,539,000. Reaves W H & Co. Inc. increased its stake in EQT by 213.3% during the 3rd quarter. Reaves W H & Co. Inc. now owns 1,029,234 shares of the oil and gas producer’s stock worth $56,021,000 after acquiring an additional 700,732 shares during the period. SG Americas Securities LLC raised its stake in EQT by 1,286.2% in the second quarter. SG Americas Securities LLC now owns 735,936 shares of the oil and gas producer’s stock valued at $42,920,000 after purchasing an additional 682,844 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of EQT by 116.4% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 534,485 shares of the oil and gas producer’s stock valued at $29,092,000 after buying an additional 287,538 shares in the last quarter. Finally, KTF Investments LLC bought a new stake in EQT during the fourth quarter worth $8,885,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Up 2.7%

Shares of NYSE EQT opened at $58.72 on Monday. The firm’s 50-day moving average is $54.50 and its 200-day moving average is $54.35. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29. EQT has a 1 year low of $43.57 and a 1 year high of $62.23. The firm has a market capitalization of $36.64 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 0.47 and a beta of 0.74.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 17th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, February 17th. EQT’s payout ratio is currently 22.60%.

Analyst Ratings Changes

A number of research firms have weighed in on EQT. Zacks Research downgraded EQT from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. Citigroup cut their target price on shares of EQT from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, December 19th. Sanford C. Bernstein increased their price objective on EQT from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Mizuho upped their price target on EQT from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Finally, Wall Street Zen upgraded shares of EQT from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Nineteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.27.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.