Unusual Put Option Trade in EQT Worth $504.5K

On May 2, 2023 at 11:34:21 ET an unusually large $504.50K block of Put contracts in EQT (EQT) was bought, with a strike price of $37.00 / share, expiring in 17 day(s) (on May 19, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 4.12 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in EQT options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1439 funds or institutions reporting positions in EQT. This is an increase of 131 owner(s) or 10.02% in the last quarter. Average portfolio weight of all funds dedicated to EQT is 0.42%, a decrease of 20.84%. Total shares owned by institutions decreased in the last three months by 2.49% to 403,719K shares. The put/call ratio of EQT is 0.62, indicating a bullish outlook.

Analyst Price Forecast Suggests 26.11% Upside

As of April 24, 2023, the average one-year price target for EQT is $43.22. The forecasts range from a low of $12.93 to a high of $64.05. The average price target represents an increase of 26.11% from its latest reported closing price of $34.27.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for EQT is $10,848MM, a decrease of 4.29%. The projected annual non-GAAP EPS is $9.98.

What are Other Shareholders Doing?

Amalgamated Bank holds 118K shares representing 0.03% ownership of the company. In it’s prior filing, the firm reported owning 128K shares, representing a decrease of 8.10%. The firm decreased its portfolio allocation in EQT by 16.59% over the last quarter.

Chatham Capital Group holds 27K shares representing 0.01% ownership of the company.

HITE Hedge Asset Management holds 381K shares representing 0.11% ownership of the company. In it’s prior filing, the firm reported owning 622K shares, representing a decrease of 63.19%. The firm decreased its portfolio allocation in EQT by 50.10% over the last quarter.

VANGUARD VARIABLE INSURANCE FUNDS – Equity Index Portfolio holds 86K shares representing 0.02% ownership of the company.

AAWVX – MID CAP CORE EQUITY FUND holds 2K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 1K shares, representing an increase of 15.28%. The firm decreased its portfolio allocation in EQT by 2.33% over the last quarter.

EQT Declares $0.15 Dividend

On April 19, 2023 the company declared a regular quarterly dividend of $0.15 per share ($0.60 annualized). Shareholders of record as of May 10, 2023 will receive the payment on June 1, 2023. Previously, the company paid $0.15 per share.

At the current share price of $34.27 / share, the stock’s dividend yield is 1.75%. Looking back five years and taking a sample every week, the average dividend yield has been 1.12%, the lowest has been 0.39%, and the highest has been 2.36%. The standard deviation of yields is 0.54 (n=147).

The current dividend yield is 1.18 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.05. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

EQT Background Information
(This description is provided by the company.)

EQT Corporation is a leading independent natural gas production company with operations focused in the cores of the Marcellus and Utica Shales in the Appalachian Basin. The company is dedicated to responsibly developing its world-class asset base and being the operator of choice for its stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, EQT seeks to continuously improve the way it produces environmentally responsible, reliable and low-cost energy. The company has a longstanding commitment to the safety of its employees, contractors, and communities, and to the reduction of the overall environmental footprint. Its values are evident in the way EQT operates and in how interacts each day – trust, teamwork, heart, and evolution are at the center of all the company does.

See all EQT regulatory filings.

This article originally appeared on Fintel

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