Dallas, Texas 11/06/2013 (Financialstrend) – In Tuesday’s trading, EQT Corporation (NYSE:EQT) dropped by 1.88%. The opening price of the shares was $85.98, which was the intraday high as well and dipped to a close of $84.48. Approximately 1.24 million shares were traded on Tuesday while an average volume of 1.29 million shares were traded over a 30 day period. The 52-week low of EQT Corporation (NYSE:EQT) shares is $56.45 and its 52-week high is $94.42. The company has a market capitalization of $12.73 billion.
About the company
EQT Corporation (NYSE:EQT) conducts its business via 3 business segments: 1- EQT Production, 2- EQT Midstream and 3- Distribution. EQT Production are the natural-gas producers located in the Appalachian Basin and have 5.4 trillion cubic ft-equivalent of proved-reserves across 3.5M acres. As of 31 December 2011, EQT Midstream provides gathering & transmission as well as storage services for EQT Corporation (NYSE:EQT)’s produced gas & to independent 3rd-parties in the Appalachian Basin. Via the Distribution segment, the company’s regulated natural-gas distribution subsidiary, Equitable Gas Company, LLC, distributes & sells natural-gas to residential & commercial as well as industrial customers across southwestern Pennsylvania, West Virginia & eastern Kentucky; it operates a small gathering-system in Pennsylvania, & provides off-system sales-activities. These include purchasing and delivering gas to customers. On 1 February 2011, EQT Midstream sold-off Langley and its associated NGL-pipeline to MarkWest Energy Partners. On 1 July 2011, EQT Corporation (NYSE:EQT) sold its Big Sandy Pipeline to Spectra Energy Partners. On 4 May 2011, via EQT Production Company, EQT Corporation (NYSE:EQT) acquired the Class-An interest in the trust, thus acquiring 100% of the NPI that was associated with producing properties .
EQT Corporation (NYSE:EQT)s production’s properties are primarily located in Pennsylvania, Kentucky, West Virginia and Virginia. This particular segment covers almost all of EQT Corporation (NYSE:EQT)’s acreage of proved-developed & undeveloped natural-gas and oil-production properties. Almost 530,000 of these acres are situated in the Marcellus.