10 Cheap S&P 500 Stocks to Invest in Now

6. EQT Corporation (NYSE:EQT)

Forward P/E Ratio as of January 12: 12.11

Number of Hedge Fund Holders: 82

EQT Corporation (NYSE:EQT) is one of the cheap S&P 500 stocks to invest in now. On January 5, Bernstein analyst Bob Brackett raised the firm’s price target on EQT Corporation to $73 from $72, while maintaining an Outperform rating on the shares.

Earlier on December 12, UBS raised its price target on EQT Corporation to $76 from $67 and while maintaining a Buy rating on the shares. The firm noted that after 3 years of limited gains, the energy sector appears positioned for a stronger 2026. This outlook is supported by improving oil and natural gas outlooks, value creation from M&A, cost and capital expenditure efficiencies, emerging oilfield services opportunities, and attractive valuations.

Mizuho also increased its price target for EQT Corporation on the same day to $68 from $60, with an Outperform rating on the shares. This adjustment was part of the firm’s broader 2026 outlook for the E&P sector. The firm acknowledged that current sentiment regarding US oil and gas companies is largely negative due to concerns over oil market oversupply and high levels of natural gas storage. However, the firm noted underappreciated value within the group, particularly in E&P companies, based on long-term fundamentals that are expected to begin materializing in 2026.

EQT Corporation (NYSE:EQT) produces, gathers, and transmits natural gas. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers located in the Appalachian Basin.