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Short bettors exited EQT in droves as Rice Energy deal closed

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According to Market Intelligence, December 2022

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Short bettors exited EQT in droves as Rice Energy deal closed

EQT Corp. saw the largest decline in short interest relative to shares outstanding among SNL-covered midstream and related companies between Oct. 31 and Nov. 15.

The company saw short interest plummet by 1,142 basis points to 5.36% of shares outstanding at the end of the period. EQT closed its $6.7 billion acquisition of Rice Energy Inc. on Nov. 13.

Enbridge Energy Management LLC posted the largest increase in short interest relative to shares outstanding among SNL-covered midstream and related companies between Oct. 31 and Nov. 15. The company saw short interest rise 168 basis points to 2.89% of shares outstanding at the end of the period.

SemGroup Corp. topped the list of most-shorted midstream and related companies in the first half of November. The company saw short interest grow 5 basis points to 10.67% of shares outstanding.

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